July 29th, 2010
01:16 PM ET
12 years ago

What's so scary about Elizabeth Warren?

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/07/23/art.warren.gi.file.jpg caption ="Elizabeth Warren is among those being considered by President Obama to head the Consumer Financial Protection Bureau."]

Washington (CNNMoney.com) - Elizabeth Warren doesn't look or sound scary. She's a 61-year-old Harvard Law School professor from Oklahoma who has written personal finance books, some with her daughter.

But conservatives and some bankers are trying to kill any chance that Warren – a consistent critic of the financial sector before it was cool to be one – will run the consumer financical protection agency that's part of the Wall Street reform measure just signed into law by President Obama. Naysayers, such as Senate Minority Leader Mitch McConnell, R-Ky., say they just don't trust her – although he doesn't say why.

"I think there's a lot of controversy around Elizabeth Warren's services," McConnell said Tuesday in a media briefing. "It is an
extraordinarily powerful position with an incredibly large budget and authority that is constrained by almost nothing. And, therefore, the person that does serve in that capacity is going to have to be trusted by everyone."

Warren, who chairs a congressionally appointed watchdog panel over the federal bailout, is not the only candidate for the job. But she is the one everyone is watching.

Full story

Filed under: issues • Wall Street
soundoff (49 Responses)
  1. informed voter

    She is the right person for this position, that's why conservatives are so afraid of her.

    July 29, 2010 01:59 pm at 1:59 pm |
  2. jim atmadison

    Elizabeth Warren would be able and eager to protect the consumer in the capacity of chair of the Consumer Financial Protection Bureau.

    Of course McConnell and the rest of the (mostly) Republican corporatists don't want her.

    July 29, 2010 01:59 pm at 1:59 pm |
  3. hobart

    Well, Mitch, you've made if abundantly clear that you will never ever trust anyone this administration nominate for anything, just because you know they're evil.

    Well guess, what, Mitch? You're the one who is evil, you lying sack of stool samples. You so want to regain power that you've said NO to each and everything this administration has proposed. You literally cheer for the economy to fail, just so you can regain power more quickly. All the while, you don't give a rodent's buttocks that YOUR policies (Bush, McConnell, Boehner) ran our economy into the ground, and led to millions of us losing our jobs, our homes, our life savings and our health care, and YOUR policies, Bush/McConnell/Boehner, killed the Gulf of Mexico, and all the non-oil jobs that depend on it.

    Why do you hate Main Street America, Mitch?

    Ditch Mitch!

    July 29, 2010 02:04 pm at 2:04 pm |
  4. The Other Micheal in Houston

    CNN, water is wet, the sky is blue. of course Republicans cannot give their reasons why they dont trust her, THEY DONT HAVE ONE! As usually, obstruct, block, fillabuster, same ole Republican Jihadist who hate America. I cannot wait until November when we cripple the Republican Facsit for good.

    July 29, 2010 02:05 pm at 2:05 pm |
  5. Sniffit

    Let's translate "trusted," shall we?

    Trusted (in GOPer-speak): "In our pockets and/or beholden to us an/or big business and the finance sector in some way that makes it impossible for them to do their job objectively...be it through bribes, blackmail via having "dirt" on them, or otherwise."

    The Harvard professor part doesn't help either...the GOP and conservatives clearly have a long-standing preference for poorly educated, misinformed morons....they too are more easily manipulated and corrupted.

    July 29, 2010 02:07 pm at 2:07 pm |
  6. Shibumi

    Another butttt-ugly lib female.

    July 29, 2010 02:08 pm at 2:08 pm |
  7. Cosmo

    "Naysayers, such as Senate Minority Leader Mitch McConnell, R-Ky., say they just don't trust her – although he doesn't say why."

    Rule of Thumb #1 – If McConnell is against something, it is good for the American public.

    Mr. President, please give Ms. Warren the job.

    July 29, 2010 02:13 pm at 2:13 pm |
  8. Beverly - NYC

    Of course Republicans are scared of her nomination, unlike them she knows what's she's talking about, and would effectively run this agency. Why would the Republicans want someone competent looking out for main street Americans? We all know the Republican will vote NO on anyone with a brain who does not worship at the Wall Street ,big buiness altar . Mr. President save yourself a year of bickering, t get it over with and make this a recess appointment. Republicans will whine either way.

    July 29, 2010 02:13 pm at 2:13 pm |
  9. sonny chapman

    It's called xenophobia. Fear of everything that seems different. Usually found in primitive cultures. Also appears among the powerful who don't share their toys very well. Oh, and Jesus said, "Welcome the stranger",Matthew 25,35.

    July 29, 2010 02:16 pm at 2:16 pm |
  10. harold

    Of course the republicans do not trust her....The Republicans are holding hands with business that likes to take the USA for a ride like they took us all for a ride in the Great Recession.. So Republicans... does anyone really trust a republican and their Great Recession buddies?... I do not...The Republicans do not like us ordinary folks in the USA.. They do not even think we need or deserve health Insurance unless its a Private Health insurance.. Government raking in the money.. and their fine frint policies.....Now you don't trust me ... do you republicans? Huh?

    July 29, 2010 02:19 pm at 2:19 pm |
  11. Hap

    Just like their politics. Don't trust her, no reason. Take America back, from who? We'll fix health care, immigration, banking, wall street, social security, spending, taxes, how? No answers. The party of no, anti middle class, lying, theives, that work for big business have no answers cause their real bosses have not told them what to say yet. Worse yet are the middle class morons that vote for them expecting a differnt result. If nothing else sinks in your thick heads realize that the last three republican administrations left us with bigger government and in debt while saying they stood for the opposite. So are you blind or stupid?

    July 29, 2010 02:19 pm at 2:19 pm |
  12. a health economist

    I cannot think of anyone that would be a better choice for this position. She is a constant advocate of consumer rights and protections. Being against her nomination says a lot about someone. Although it really does come at no surprise that the Republicans and the financial sector is against her.

    July 29, 2010 02:22 pm at 2:22 pm |
  13. ja

    Ms Warren should only be feared by crooks, senator

    July 29, 2010 02:25 pm at 2:25 pm |
  14. Independent In Albany

    "And, therefore, the person that does serve in that capacity is going to have to be trusted by everyone."

    In other words: The GOP wants her to be a figurehead and not actually perform the duties for which she is being hired.

    I'm not a fan of either party, but I could not have less respect for the GOP than I have now. God what has happened to the great party of Ronald Reagan??

    July 29, 2010 02:27 pm at 2:27 pm |
  15. Sorensen

    The corrupt bunch of ultra right wing politicians, who are totally in
    the pockets of the bunch of equally corrupt Wall-Street types, are of
    course scared shitless by a hihgly intelligent and professional
    woman, a lot smarter than any of them.
    Nothing is more obvious and revealing, than a bunch of sleasy
    slimeballs with a bad conscience, if they have any, trying to cover
    up their corrupt behaviour.
    Give Elisabeth Warren that job now!!!

    July 29, 2010 02:32 pm at 2:32 pm |
  16. sensible Cape Coral Fl

    Elizabeth Warren is INTELLIGENT and that's what scares the living s–out of the Republicans

    July 29, 2010 02:33 pm at 2:33 pm |
  17. La Piovra

    I'd be scared if bankers, conservatives, and Mitch McConnell weren't against her. Since they say they are, I think it more likely than not she'd do her job.

    July 29, 2010 02:35 pm at 2:35 pm |
  18. chill

    Clearly the GOP doesn't want anyone in that job who actually supports the consumer. A full month recess is coming up in August. Sounds like a plan to me since the Repubs will simply stall forever if anyone is chosen that might actually do the job.

    July 29, 2010 02:39 pm at 2:39 pm |
  19. BobH


    McConnell doesn't "trust" Warren, though he can't say why. But there is "a lot of controversy" about her, so let's not approve her. Of course, it's controversy that he and his colleagues created, with no grounds.

    The real reason McConnell and company don't want her is that she is smart and effective– from their perspective, a complete nightmare.

    July 29, 2010 02:39 pm at 2:39 pm |
  20. Michael from Ventura

    She's the right person for this important job.

    July 29, 2010 02:39 pm at 2:39 pm |
  21. Carol

    Elizabeth Warren should be nominated. A smart common sense woman.
    Phillip Swagel, from the Bush years of course, says some loan won't be made, cars won't be bought. Some shouldn't be. I worked in the sub-prime mortgage industry, what a bunch of crooks. They knew they were making bad loans, they didn't care, as long as they lined their own pockets. Mitch McConnell better shake in his boots, Elizabeth will take care of his banking industry contributers. Time he things abouit the American people rather than his own interests.

    July 29, 2010 02:41 pm at 2:41 pm |
  22. Pkm

    Go for it girl if the gop does like you you murt be doing some thing right

    July 29, 2010 02:54 pm at 2:54 pm |
  23. sharon

    mcc onnell will not say why , first because she is female.....therfore the satement that incluses....."has to be trusted by all" , and a "powerful position",etc.
    But mostly because she WILL ask the tough questions......and get the answers.
    Now there is a "new" thought.

    July 29, 2010 02:57 pm at 2:57 pm |
  24. kay

    If conservatives and bankers don't want her then she would be perfect for the job. They know she has their number.

    July 29, 2010 03:00 pm at 3:00 pm |
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