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Opinion: Consumer Lending at Risk
By Marty Robins - AOL NewsAnyone with an interest in maintaining the positive economic momentum we've recently seen should pay close attention to the startup of the Consumer Financial Protection Bureau. The CFPB was created as part of the so-called Dodd-Frank law enacted last year to rectify the practices that led to the 2008 financial crash, with the goal of preventing abuse of consumers in financial transactions. But while the role these sorts of abuses played in the financial crisis isn't at all clear -- authoritative analyses tell us that it was much more the levels of debt, particularly low-quality mortgage debt ...
Holly Petraeus, Wife of Afghan War Commander, in Line for Consumer Post
By Politics Daily Staff - Politics DailyHolly Petraeus, wife of the top NATO commander in the Afghanistan war, is expected to be named this week to a post with the newly created Consumer Financial Protection Bureau, specializing in protecting military families from predatory lenders. The Huffington Post and Politico on Tuesday reported the likely move. The start up of the financial consumer-protection agency, a key element in the new Wall Street reform law, is being overseen by Elizabeth Warren, an assistant to President Obama and adviser to the Treasury Department. Petraeus' husband, Gen. David Petraeus, leads the U.S. war effort ...
Afghan War Casualties, Stuxnet, Student Loans: Stories We Didn't Hear Enough About
By Eleanor Clift - Politics DailyIn a world of wrap-around media and 24-hour connectivity, it's hard to believe that anything is under-covered. One man declaring, "If you touch my junk, I'm going to have you arrested," launched a pseudo nationwide panic about Transportation Security Administration pat-downs that fizzled faster than anyone dared hope. Lindsay Lohan, as she went in and out of rehab, got way more attention than any poor little rich girl should. The stories that are under-covered tend to be more sobering. They lack entertainment value, or they're too complicated for a quick hit on cable television. But they're ...
Elizabeth Warren: A Post-Election Weapon for Obama?
By David Corn - Politics DailyEveryone is a little fixated on those elections happening on Tuesday, right? But in the middle of the final crunch, I spent a few hours with Elizabeth Warren, the families-friendly, populist Harvard law professor, whom President Obama recently tapped to be both an adviser to him and to Treasury Secretary Timothy Geithner. In that latter role, she is setting up the new Consumer Financial Protection Board, which was created by the Wall Street reform bill passed this past summer. In the former role, she will be discussing middle-class and consumer economics with the president and his top aides. ...
Elizabeth Warren Weighs in on New Consumer Protection Bureau
By Alex Wagner - Politics DailyIn her first high-profile public appearance since she was named the White House "consumer czar," Elizabeth Warren said Tuesday that one goal of the new Consumer Financial Protection Bureau she is setting up is to help people navigate the complexities of financial products such as mortgages and credit cards. Speaking at the Fortune magazine "Most Powerful Women Summit" in Washington, Warren displayed marked enthusiasm for her new role, saying, "It is an enormously exciting time," but cautioning that the agency offered an "opportunity for great failure. And an opportunity for great success." ...
Opinion: Washington Still Suffers From Economic ADD
By Marty Robins - AOL News(Oct. 1) -- Have you seen the recent news from the White House about a new federal professional sports task force to formulate rules on NFL overtime and the use of instant replay in Major League Baseball? Well, it hasn't happened ... yet! But given the lack of focus we see in Washington, I wouldn't be at all surprised to see something like that any day now. With the economy in a state of emergency, we need our leadership to be unswervingly focused on the steps needed to promote recovery. But Washington continues to operate as if it's business as usual. Part of the problem is that when ...
Sen. Ted Kaufman to Replace Elizabeth Warren On Bailout Oversight Panel
By Christopher Weber - Politics DailySen. Ted Kaufman (D-Del.) has replaced Elizabeth Warren on the panel that oversees the federal government's Wall Street bailout program. Kaufman was appointed Thursday to the Congressional Oversight Panel by Senate Majority Leader Harry Reid, MarketWatch reported. COP is charged with keeping track of the $700 billion spent as part of the Troubled Asset Relief Program at the height of the financial crisis. It will oversee TARP and report on its effectiveness until its authority expires on April 3, 2011. The outgoing senator, a longtime aide to Vice President Joe Biden, fills the seat left ...
The New Stepford Wives Party, Starring Sarah Palin (Also Gidget)
By Donna Trussell - Politics DailyI loves me some mama grizzly Sarah Palin and her adorable Republican bear cubs running for national office -- Delaware's Christine "Never Mind What I Said Back Then" O'Donnell, South Dakota's Kristi "I Forgot My Court Date" Noem and Nevada's Sharron "Unemployed People Are Spoiled" Angle. And no, I don't love them because they're "unelectable." If you said that, bite your tongue. MSNBC pundit Chris Matthews bet Politics Daily's own David Corn that O'Donnell will win in November. Maybe that's a fake-out, but at this point in American politics, the fake is real, the real is fake, and the law of ...
Critics Slam Obama Over Warren Appointment
By not in system - AOL NewsIn Elizabeth Warren's 2007 article in the journal Democracy, the Harvard University professor decried what she called the "tricks and traps" some financial institutions used to lure consumers into mortgages, credit cards or other financial agreements they couldn't afford. Warren proposed creating a government watchdog group to help guard the public against them. ...
Obama Picks Consumer Adviser, Dodging Senate Fight
By not in system - AOL NewsWASHINGTON (Sept. 17) -- In a poke in the eye to the financial community, President Barack Obama on Friday named Elizabeth Warren, an aggressive consumer advocate and Wall Street adversary, to oversee creation of a new agency to regulate banks, lenders and credit card companies. Sidestepping a Senate confirmation fight - for now - Obama stopped short of nominating Warren to actually head the new Bureau of Consumer Financial Protection. Instead, his action will let the Harvard Law School professor and expert on bankruptcy move quickly to shape the bureau. Senate Republicans view her as too ...
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