Now that radical, anti-Wall Street professor Elizabeth Warren will circumvent senate confirmation and run the new Bureau of Consumer Financial Protection, it might be good to look at just what we can expect from her as far as how she will run this massive new agency.
Judd Gregg knows:
"My concern is that she would use the agency for the purpose of promoting social justice," Gregg said on ABC's "Top Line" webcast. The agency, Gregg said, should promote improving access to credit, as well as other financial services.
Liberals had ramped up pressure on Obama and some Democrats in favor of Warren, but Republicans and some Democrats - most notably Senate Banking Committee Chairman Chris Dodd (Conn.) - had raised questions about her confirmability and relative fitness for the position.
Gregg lambasted Obama for picking Warren as an unconfirmable "adviser," calling the selection a "terrible adulteration of the process."
Just what we need; another federal effort to compel financial institutions to lend people money based on skin color, sex, and other non factors instead of an objective evaluation of whether they will be able to pay the money back.
I wonder how many bubbles the new agency will be able to create?