Outstanding – thanks David!

Excellent, David!

Boy, something tells me that neither Geithner’s people nor Senior White House Official wasn’t expecting to see the intensity of the pushback on this anti-Warren musing. It was obviously floated as a trial balloon, but the fact that it was immediately attacked from all sides meant that Timmeh’s spokesflack had to be rolled out to officially deny it.

Great post, David. Would you care to speculate why Obama hasn’t already named her instead of this trial balloon?

Obama could end the speculation by immediately naming Warren

Not going to happen. It take much time to consider all the ramifications and consistencies, possible interest groups, perfect futures, future imperfects, and eleventy seven dimensions of chess to arrive at precisely the wrong correct person.

The bill isn’t even law yet. But the speculation about Geithner’s intentions has led to a situation that has made this a political test.

I guess he has to make sure that everyone approves right down to the White House chef. It’s the bi-partisan thing to do!

Obama will not get involved. He’s on vacation.

Fox Nooz is stalking the chef right now for comments.

The bill isn’t even law yet. But the speculation about Geithner’s intentions has led to a situation that has made this a political test.

You mean like the public option in healthcare?

I love Elisabeth Warren. I would go to work for her in a heartbeat if she needed me, but I don’t think she does.

I want to hear Geithner with his own mouth, not some underling, support Warren.

Hear, hear. Let this slimy little son of a bitch speak for himself.

Your last point makes clear that Geithner’s input is extremely important. This will be considered a position ultimately within Treasury’s bailiwick, or one that could adversely impact its job or its relations with what it considers its key constituency – Wall Street – regardless of its formal place within the government. Just as important as who runs this new org will be its budget – look at the mischief Congress did with the lowly PBS by manipulating its budget.

Moreover, Geithner is a follower; he represents the views of much stronger players, most of whom come out of Goldman Scratch. It is their attitudes about Warren and consumer protection generally that should be examined over a coal fire, not just Geithner’s. But many thanks for a job well done on a hard to see, moving target.

It’s all optics. Geithner will prevail because that’s what Obama wants. Doesn’t matter what they say in public through a spokesperson. It’s what’s decided behind closed doors between Obama/rahma and Timmy. Think health insurance reform. Obama was for the public option before he was against it.

Dawn Johnsen.

Until Prof. Warren has had her backbone surgically removed as well as shedding any shred of integrity she doesn’t serve the right interests to be appointed.

Just because there is no requirement for a “plain vanilla” contract on financial products, in readable English for consumers, doesn’t mean the chief regulator couldn’t make a rule mandating one.

First, a law is stronger than a rule.
Second, a law can take place immediately. A rule goes through a process that can take a year.
Third, that lag time can give Congress plenty of time to attach an amendment killing it to any number of pieces of must pass legislation.
Fourth, the way the CFPA is set up some rules can be killed administratively by other boards.
Fifth, we do not know what the CFPB’s budget will be and if it will have the means to enforce its regs.
Sixth, what penalties can the CFPB exact for non-compliance?

I have a bigger crush on Elizabeth Warren than you do! Not only would I work for her, I’d clean her house and please her in any way she asked!

Elizabeth. (sigh)

Until Prof. Warren has had her backbone surgically removed as well as shedding any shred of integrity she doesn’t serve the right interests to be appointed.

Ding! We have a winner!

I wonder if the WH is aware of, and taking into consideration at all, the faint murmurings out in the hinterlands and blogosphere of Warren In 2012? She was actually asked about this on an interview with Bill Moyers awhile back, and of course, demurred…”flattered by the mention…have a job to do…happy where I am…etc.”

It still takes 60 votes or the financial industry Senators standing down to get her confirmed. If the leak was a quid-pro-quo for the 60th vote on the financial industry regulation law, the person who provided that 60th vote is more likely a bigger obstacle than Geithner.

Even if Warren is appointed and approved, it may be just for show, a more nuanced, yet more cynical treatment than was handed out to Dawn Johnsen. Ms. Johnsen never had the pulpit, though, that Ms. Warren has or uses. If she gets this, she will use it to the best of her ability and won’t go down without a well-mannered shouting match.

OK, that update says it all for me.

No recess appointmet happening here

Yeah, she’s being considered right there along with Jane Hamsher and Simon Johnson…with Obama’s track record it will probably be Ben Nelson’s niece! Snowball’s chance in hell!

That surgery was particularly effective on Mukasey and Holder. It’s bipartisan!

“Half a year after some pundits were predicting he would be booted from the Obama administration for poor performance, Geithner is poised to inherit authority to shape bank regulations, financial market oversight and a new consumer protection agency. Few treasury secretaries have ever had such sweeping influence over such a wide realm.”
Let’s see now..the last time Timmeh had a big important wide-ranging job with huge authority like this was…oh, yes, when he was the President of …the Federal Reserve Bank of NY. And look at what he did with THAT.

With David Axelrod leaking that Geithner likes Warren, shows that Obama political team is feeling a lot of heat.

Obama knows he can get another trojan horse, like him in the senate to sank the Warren nomination.

The white house knows they are becoming a joke, and are going to lose control of the entire democratic party, because there is no trust, loyalty, love, among crooks ie the current batch of democrats. (a lot of dems will start attacking the white house soon, trying to improve their creditability with the base)

how many democrats really want Obama to campaign for them this fall? “these dumb dems must can’t read poll numbers! Obama poll numbers are in the toilet.

Obama is on the verge of a bigger crashed than Carter.

Obama and Rahm have no clue about the current political climate. From day one David Axelrod, Robert Gibss, have made huge mis-calculations politically

the mythical middle does not exist in a depression

Has Vegas posted any odds on this, ’cause folks could make some big money betting that Obama doesn’t appoint her. Of course I don’t know who would risk $$$ betting the other way.

This is Geithner politi-speak. He doesn’t want Warren but he thinks she is “well qualified”. Doesn’t he want – what’s his name – Barr? Is it Barr? I thought I saw something of HuffPost about it.

“One thing I just learned: until the Senate confirms a director of the consumer protection bureau, it will be run by… Tim Geithner.”

A waste of Warren’s talent. The new “Bureau” is going nowhere.

Sounds like your sparkling wit is also on holiday, tinman.

Is it possible Obama sent out the trial balloon so that progressives would get pissed, then he could appoint Warren in order to give progressives SOMETHING, since he has given them NOTHING so far? Just a thought.

What speculation?

Obama will name a corporate shill, end of story.

Warren will not get the job.

Great read David, nice work and thanks so much.

I see spin galore, and concur although you don’t say it outright, that Barr or his ilk will get the nod.

And yes, the base (us progs anyway) of the dem’s got eyes on this, but we know it’s another kick in our asses to knock us down.

’10 and ’12 are shaping up to be dem bloodbaths, and I for one am glad to see it coming.

As long as we’re doomed, let’s get it over with fast and then start the change.

But it takes NO time to appoint Barr, or another corporate shill.

Obam will stall this as long as he can, especially if he keeps Geithner at the helm until after Nov. elections.

THEN he appoints a GOP or corporate thug.

A test Obama has failed since he announced his staff and cabinet picks. And continues to fail, at every turn since.

Yep, the kind of fail that corporations buy on a daily basis, and at every election and appointment.

NIcely crafted comment, really nice.

Thanks!

Too eleventy . . . so far, we’ve seen NO evidence of this eleventy process being played since day one of his staff and cabinet announcements.

Great post, GREAT snark and insights from all you who comment, too.

Made my day!!!

Thanks again to David and all who bring it to us, so we can vent and learn . . . and at times, break down and sob.

I’m gonna go water the garden and pick some herbs to sniff, chop and cook with for tonight. That always makes me feel better. ;-)

It would set the bureau on a course as a powerful regulator for the next several decades,

And we certainly can’t have that.

Warren would be a constant thorn in Obama’s side and could use the position as a launchpad for a presidential campaign. If you were Obama as we’ve come to know him, what would you do?

Make her disappear, appoint her to a shit position, which she might decline, end of story.