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. doug

    She is a GSP, like our pResident, and all of his hateful clones spewing their lib lies at the ticker, George Soros Puppets!

    July 29, 2010 01:19 pm at 1:19 pm |
  2. katiec

    Well, if the republicans are against her that is all the more reason for the American people to support her.
    That tells us she does not fall in in line with their undying love and support of Wall St, the rich, and will most likely rule in our behalf.

    July 29, 2010 01:24 pm at 1:24 pm |
  3. Rick in OP

    QUESTION – What's so scary about Elizabeth Warren?

    ANSWER – She is a flaming liberal and if appointed will have virtually unchecked power.

    July 29, 2010 01:25 pm at 1:25 pm |
  4. EddieInRI

    Many Republicans won't trust anyone who isn't an outspoken right-wing extremist.
    Just like many Democrats who only trust left-wing extremists.

    Warren would be a good choice for the position (in my opinion) and if she is nominated, will be easily confirmed.

    July 29, 2010 01:27 pm at 1:27 pm |
  5. Victim of GOP Taliban

    Nothing. The Neo-Confederates just want one of their own activists in charge to work with Wall Street Lobbyists.

    July 29, 2010 01:30 pm at 1:30 pm |
  6. nini

    Another Radical like the rest of the people around this President.

    The Obama and his cronies all have a few things in common and no matter how much CNN, MSNBC and NBC spin this you can not hid the truth.
    1-They all have a deep dislike for AMERICA
    2-They all share a lack of respect for our Constitution
    3-They all have revolutionary and Radical past or associate with people as such
    4-They all believe in distribution of wealth
    5-They all seem to admire Mao and Marx,
    6-They are all fascinate by socialism
    7-They all see this nation either as unjust or the "Nation of Cowards"

    I find Media's cover-up unconscionable.

    July 29, 2010 01:30 pm at 1:30 pm |
  7. steve

    When Republicans start complaining about someone who will protect consumers before there is a candidate is named, you can bet she/he who will be great for US citizens. I saw Warren interviewed once. It was pretty clear she knew what she was doing and could hold banks accountable if given the chance. Isn't this what we have been waiting 2 years for! Trouble is Republicans in DC think like Wall St. CEOs because they don't have a Main St life.

    July 29, 2010 01:31 pm at 1:31 pm |
  8. Grundoon

    They don't trust her becuse they know she's sharp and woudl make them be honest!

    Remeber: A vote for republican in Novenber is a vote to coorporate greed and ruin for the middle class.

    July 29, 2010 01:31 pm at 1:31 pm |
  9. Marcus

    '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.'

    Which means that she's a decoy?
    Makes sense in a way. Put a highly provocative name in the ballot, everybody will look for it and those who have complains will make them loud and clear...
    Then you show the alternative, a less 'heated' name...

    July 29, 2010 01:31 pm at 1:31 pm |
  10. Dutch/Bad Newz, VA

    "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."

    Hey Mitch, I'm sure Ms. Warren is fully capable of handling the position since it was her idea to begin with idiot. I'm sure you will like to have one of your Wall St. cronies in that position so they can screw the taxpayer even more.

    July 29, 2010 01:35 pm at 1:35 pm |
  11. MikeH

    What's so scary??? How about that she's honestly commtted to protecting American citizens from predatory financial institutions.

    Reason enough for the RepubliKlans to oppose her appointment.

    All kidding aside, this is an important moment for Obama. If he caves and does NOT appoint Warren to head the Consumer Financial Protection Agency (Capital letters for official names – take note CNN), he will lose the 2012 re-election.

    July 29, 2010 01:38 pm at 1:38 pm |
  12. Shucks

    Funny how the republicans think that during a democratic administration that they should be the ones profiling the appointees. I guess that's what Bush did for 8 years. This guy and his righties are morons.

    July 29, 2010 01:41 pm at 1:41 pm |
  13. Jess C.

    Here comes GOP fear-mongering at it's best, especially when it comes to keeping Wall St. honest. GOP will sweat bullets over this. Bring on Elizabeth Warren, we need her!

    July 29, 2010 01:42 pm at 1:42 pm |
  14. katiec

    Your headline should have read "What's so scary about Warren to the republicans"??
    The majority of the American people want, admire and respect somone who is not a slave to Wall St.

    July 29, 2010 01:43 pm at 1:43 pm |
  15. Video Guy

    The fact that Mitch McConnell does not trust her is enough for me. She is one to head the new agency. I am sure he got the message from Rush and Sarah. If she cleaned up Wall Street, Glen Beck would not have any gold to sell.

    July 29, 2010 01:46 pm at 1:46 pm |
  16. Wisconsinite - Vote NO to the GOteaP in November & 2012

    Oh PLEASE! The GOteaP is going to object to ANYONE who is not a fellow GOteaP or straight out of Wall St! ENOUGH already with the obstrucionism! I am sick and tired ot it and this is one Democrat who is going to use my right as an American citizen to send a clear message to the GOteaP by voting against them and FOR middle income Americans as often as I possibly can!

    July 29, 2010 01:47 pm at 1:47 pm |
  17. thor

    The reason is that this lady is a cog in the wheel to transform our free market system into Obama "socialist utopia" We just discovered a provision in the financial overhaul bill says that the SEC no longer has to comply with requests for information from the public,including the Freedom of Information Act.And this lady has said that she would be the person that to head an agency that she in effect created called "the Consumer Financial Protection Bureau"Only she and Obama would know what powers would be granted or what the job would entail.

    July 29, 2010 01:48 pm at 1:48 pm |
  18. Dan

    They're scared she might actually do the job. So pathetic.

    July 29, 2010 01:49 pm at 1:49 pm |
  19. malcolm in St Louis

    When you establish a new agency you do not want a lapdog. You need to stake out territory and establish precedents.

    She sounds exactly right for the job.

    ,Quote: "the person that does serve in that capacity is going to have to be trusted by everyone." The word is not trust but respect.....

    If rules are soft and lines are squishy the banks will take advantage, stating that is their obligation to their shareholders. If the boundaries are firm they have no excuse they obey the rules and follow the law.

    Congress has a habit of passing laws that sound good then underfunding the agency or putting weak administrators in charge.

    That way they tell the electorate they have done right ..... and at the same time appease the lobbyists who bribe them with campaign donations.

    July 29, 2010 01:50 pm at 1:50 pm |
  20. Liz the First

    There go the fearmongers again! no concrete evidence against this intelligent, hard-working woman, just throw crap out against her and hope the ditto-heads pick it up and run with it. the Obama administration should declare the rethuglitards a terrorist organization and be done with it. all they can do is try to scare people into supporting them or doing things their way. much to the shame of this country, this sorry tactic works waaaay too well on waaaaaaaaaaaaaay too many people.

    July 29, 2010 01:51 pm at 1:51 pm |
  21. Johnathan

    Nothing wrong with this lady, Mr. McConnell, nothing at all. If you want someone everyone will like, no one will ever fit that criteria, which is what you and your insurgent, anti-american tea taliban party wants you dumb neanderthal. Go crawl under the rock that you live under you piece of fecal matter.

    July 29, 2010 01:52 pm at 1:52 pm |
  22. NVa Native

    Warren scares the heck out of right wingers because she is educated, intelligent, and engaging. Anybody who is the opposite of the "typical" conservative scares the heck out of them. She won't follow the ideology of ignorance.
    Plus she most assuredly would succeed as head of the Consumer Financial Protection Bureau, which is the opposite of what they want.

    The thing the Repubs fear most is success.

    July 29, 2010 01:54 pm at 1:54 pm |
  23. Eric

    ... uh, let me render a guess...

    Maybe because she's an idealogue and unrepentant socialist like her future boss, who is hellbent and will not rest until we are ALL standing in lines for bread and soup and milk, like in the old Soviet Union, and all in the name of "fairness?"

    Call me crazy, just a guess.

    July 29, 2010 01:54 pm at 1:54 pm |
  24. Rob NY

    Nothing is scary about her. She is the best person for the job. If capable smart and most qualified is scary, then she is scary as hell.

    July 29, 2010 01:57 pm at 1:57 pm |
  25. Kevin in Ohio

    Another Harvard liberal progressive socialist to carry out Obama's plan to utterly destroy America.

    July 29, 2010 01:57 pm at 1:57 pm |
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