Editor's Note: John King's interview with Elizabeth Warren will air today at 7pm Eastern on CNN's John King, USA.
Washington (CNN) – Consumer advocate Elizabeth Warren, appointed today by President Obama to launch the new Consumer Financial Protection Bureau, tells CNN Chief National Correspondent John King that her "nomination was on the table" but would have meant "spending a lot of energy fighting" to get the votes necessary in the Senate to secure her nomination as the agency's first official director.
"Millions of American families are hemorrhaging money today and tomorrow and next week on tricks and traps and credit products. We can fix that. That's what this agency is about and we're not going to wait a year to get started," said the harsh critic of Wall Street.
Warren jokingly feigned innocence when asked why bankers do not like her, but admits "there are bankers sure who don't like me. Some of them haven't met me. Some of them have seen enough." But she says that there are people in the financial sector who "welcome this consumer agency, because they're going have a better shot at a competitive marketplace where they're not competing against bankers who've figured out how to make their profits on tricking people and trapping them."