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."
Obama did the right thing bypassing Senate confirmation. The GOP would have definitely stalled, played games and try to throw her under the bus to score points.
This "appointment" is nothing more than a sleezy bypass of the Constitution. Obummer is not above the law.
Looks like President Obama made a pretty good appointment.
Another end around the constitution by the master of illusions, who has no respect for the constitution whatsoever. These corrupt chicago style politics need to go
good thing they found a way around that pesky constitution
How absurd, a presidential label reader, just what the country needs to spend money on and as a bonus, Obama continues to "grow government" with jobs that never existed. Like a drunken sailor ..............
I am not a banker and I dont like you
It must be nice to write your own rules for a job in effect you created. Exactly where is the government's oversight for this job?Or is Obama making up the rules as time goes by?
again Mr Obama has picked just the right person for the job. Great lady