President Obama appointed Elizabeth Warren to a key role crafting the consumer financial protection bureau . (PHOTO CREDIT: Erika Dimmler/CNN)
Washington (CNNMoney.com) - President Obama announced Friday that he's appointing Harvard law professor Elizabeth Warren to a key role crafting the consumer financial protection bureau that was her idea in the first place.
"Getting the agency off the ground is a task that can't wait," Obama said. Warren "is the best person to stand this agency up...it only make sense that she should be the architect," he added.
Warren, 61, said she "enthusiastically agreed" to serve as a special adviser in the Obama administration, in a blog post appearing on the White House Website."He has also asked me to take on the job to get the new CFPB (Consumer Financial Protection Bureau) started right now," Warren said. "The President and I are committed to the same vision on CFPB, and I am confident that I will have the tools I need to get the job done."
Our colleagues at Time have much of interest on the web too. Two we're reading here:
Remember Martha Coakley? Michael Crowley does. Will the Christine O'Donnell juggernaut blow past snickering Democrats and candidate Chris Coons like this fall's Scott Brown? Crowley suggests this is a real possibiliy in his analysis at Time.com.
Elizabeth Warren has a funny new title: Assistant to the President and Special advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau. Massimo Calabresi explains the reasoning for her not to get the job as head of the actual agency. He's written a piece for Time's Swampland.
(CNN) – Two years is a long time in politics.
The man who was on then-candidate Barack Obama's shortlist for a running mate in 2008 is now touting his staunch opposition to the president.
Democratic Rep. Chet Edwards – the longtime congressman who faces an uphill battle for reelection in his conservative-leaning Texas district - launched a new ad Friday that declares, "When President Obama and Nancy Pelosi pressured Chet Edwards, Chet stood up to them and voted no."
The ad – among the toughest this election cycle from a Democrat who is distancing himself from the president – specifically touts Edwards' no votes on health care reform and cap and trade, as well as several other votes the Democratic leadership has opposed.
Washington (CNN) - A senior GOP aide tells CNN that Christine O'Donnell postponed her meeting that was planned today with NRSC John Cornyn, citing scheduling conflicts because of her speech at the Values Voters summit in Washington.
This aide said staff from both camps still intends to meet Friday, and that they hope to reschedule to meet with her personally "in the near future."
CNN first reported earlier that this first meeting between the two, who have publicly sparred from afar, was set to take place in Washington.
(CNN)–Pop singer Lady Gaga took to the web Friday, telling Congress "to do your job" - calling specifically on Sens. John McCain, Mitch McConnell, James Inhoffe, and Jeff Sessions to vote on the defense authorization bill, which includes authorization to repeal 'don't ask, don't tell' after a Pentagon review. Republicans have been blocking the bill from reaching the Senate floor. 'Don't ask, don't tell', is the law that was created in 1993 and bans openly gay, lesbian and bisexual people from serving in the military.
In the almost 8-minute video posted on her website, the artist asks her fans to call their representatives and let their voice be heard: "Our fight is a continuum of the ever present equal rights movement, everyday we fight to abolish laws that harbor hatred and discrimination against all people, laws that infringe on our civil liberties," she says.
The singer, who in recent days has taken to her twitter account engaging Senate Majority Leader Harry Reid to schedule a vote to repeal 'don't ask, don't tell," asks the senators these questions: "Senators when you are sending our men and women into war, sending our wives, husbands, sons, and daughters into combat, will you honor their service? Will you support repealing this law on Tuesday and pledge to them that no American's life is more valuable than another?"
(CNN) – A spokesman for Republican Christine O'Donnell's Senate campaign is suggesting nothing improper was committed when it paid out funds to O'Donnell's mother, Carole, earlier this year.
"Carole O'Donnell, Christine's mother, did receive money for her services rendered on accounting and the FEC reporting for the campaign before the treasurer came onto the campaign," a spokesman told CNN Friday.
As first reported by The Daily Beast, records filed with the Federal Elections Commission show the campaign paid $3,500 to Carole O'Donnell between February and July of this year. The expenses are listed under "bookkeeping" and "financial consulting services."
(CNN) - It appears Bill Clinton is letting bygones be bygones.
As our friends at Time.com first reported, the former president will appear with California gubernatorial candidate Jerry Brown in mid October. Brown's campaign has also announced the upcoming visit.
This comes a week after Brown misfired with a joke about Clinton's involvement with then-White House intern Monica Lewinsky.
San Francisco Mayor Gavin Newsom will also be on the stump with Clinton and Brown.
Washington (CNN) - Hotly energized social conservatives took aim at Washington's political establishment Friday, gathering to celebrate a string of GOP primary upsets this year and promising a revolution at the polls in November.
Speaker after speaker slammed the Obama administration for advancing what was characterized as a left-wing agenda threatening to undermine the country's economy, security and moral foundation.
The fifth annual Values Voters Summit, held in the nation's capitol, is a veritable "who's who" of rising Republican stars and possible 2012 presidential contenders: Sens. Jim DeMint of South Carolina and Jim Inhofe of Oklahoma, Gov. Bob McDonnell of Virginia, former Arkansas Gov. Mike Huckabee, former Massachusetts Gov. Mitt Romney, Rep. Mike Pence of Indiana, Rep. Michele Bachmann of Minnesota and former House Speaker Newt Gingrich, among others.
Also scheduled to appear at the two-day gathering is the right's newest celebrity, surprise Delaware GOP Senate nominee Christine O'Donnell.
Washington (CNN) - As Christine O'Donnell grabbed national headlines this week, another Republican Senate nominee who enjoys strong backing from Tea Party activists, quietly came through the nation's capitol to meet with top GOP insiders.
Sharron Angle, Nevada's Republican Senate nominee, spent much of Thursday at the National Republican Senatorial Committee, huddling with senior party staffers and meeting with a number of GOP senators. A fundraiser on Angle's behalf was held Thursday night, with Senate Minority Leader Mitch McConnell of Kentucky, Sen. Tom Coburn of Oklahoma, Sen. Lamar Alexander of Tennessee, and Sen. John Ensign, among others, in attendance.
The Angle campaign tells CNN that "way more than we expected" was raised at the event. The fundraiser follows similar functions in New Jersey and New York City on Wednesday. The campaign tells CNN that they've been very successful raising money on-line and that much of what they have brought in is small dollar donations.
While most polls, including a new CNN/Time/Opinion Research Corporation survey out this week, indicate that the race is a deadheat, Angle trails when it comes to money in the bank. As of the end of June, Reid had nearly $9 million cash on hand, with Angle's campaign holding just under $2 million cash on hand.
(Updated with response with the NRSC)
Washington (CNN) – Just 48 hours after Christine O'Donnell won the Republican nomination for Senate in Delaware, Sen. Jim DeMint says his political action committee has already reached his goal of raising $174,000 for her campaign.
And in a statement, DeMint took a shot at his Republican leadership for leaving a "fundraising gap" for the candidate because they do not think she can win in November.
"This specific goal was set because national Republicans have decided not to invest the $174,000, which is the legal limit for 'coordinated' funds the party can spend on O'Donnell's behalf," read the statement.
"Despite what some Beltway pundits think, Americans clearly believe that Christine can and should win it," said DeMint.