Warren: 'I really don't get it'
July 18th, 2011
04:13 PM ET
12 years ago

Warren: 'I really don't get it'

(CNN)-White House adviser Elizabeth Warren will not helm the new Consumer Financial Protection Bureau permanently after all, but she's not losing sleep over it. Instead, she plans on thinking of another kind of political future once she passes on the baton of leading the agency.

She wouldn't confirm or deny current thoughts of a Senate challenge to Massachusetts GOP Sen. Scott Brown, but she did reveal where heavy thinking may take place in an interview with CNN anchor Wolf Blitzer Monday.

"I've got to go home to Massachusetts. I've got to get back in the house I've lived in for 15 years and settle in. And then I'll think about my future," she said.

What is troublesome to the acting head of the agency are charges that she is controversial in any way.

"I really don't get it," she stated. "The stuff I work on are things like how bad fine print is…and why it shouldn't take an army of folks, of lawyers, to be able to interpret a mortgage agreement for you," she said.

"What is the one thing I've done that makes me controversial? I think this is politics," she continued.

President Obama nominated current bureau chief enforcement officer Rich Cordray to become director of the bureau Monday. A former Ohio attorney general, Cordray received vocal support for his new role from Warren, who issued a written statement Sunday.

"Rich has always had my strong support because he is tough and he is smart-and that's exactly the combination this new agency needs," the former law professor said.

She echoed those sentiments Monday, refuting any disappointment over not receiving the nomination herself. "My job was to set this agency up and it was an enormous privilege to be able to do that," she said in an interview for CNN's Situation Room.

"One of the people I recruited right from the beginning was Rich Codray…This is the week that the president makes a nomination for someone to lead this agency going forward. That's a good thing."

Warren also held nothing back while addressing threats by top Republicans to block confirmation of any person nominated to lead the new agency.

"We started this fight two years ago," she said, recalling resistance to calls for a protective agency following the nation's financial crisis.

"Senator Shelby and others who were his allies did not want any consumer agency at all. And if it absolutely was the case politically that there had to be one, they wanted some weak agency that couldn't get anything done. We had that fight and then we had a straight-up vote on it…That side lost," Warren asserted.

"And here we stand, a year later with the minority saying 'I don't like how that came out.

I think I have the capacity to stick a stick in the spokes, unless the majority will do what the minority wants it to do.' That's not how democracy works," she countered.

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soundoff (36 Responses)
  1. they call me "tater salad"

    Warren for President 2016!!!

    July 18, 2011 06:22 pm at 6:22 pm |
  2. terry,va

    She was thrown under the bus by Obummie so he could compete in Ohio. All political and cheap BS by Obummie.

    July 18, 2011 06:37 pm at 6:37 pm |
  3. Republican Robber Baron

    I don't get it either. She is simply a stereotype of a highly educated, intelligent liberal...too smart for the dumbed-down Fox "News" indoctrinated zombies to understand. Gee maybe the GOP Big $ constituents got nervous that she was going to figure out their ponzi schemes and scams...to actually make some real regulations.

    July 18, 2011 06:41 pm at 6:41 pm |
  4. Patrick from Minnesota

    Congress seriously lacks people like her.

    July 18, 2011 06:47 pm at 6:47 pm |
  5. Snooze70

    Yes, Ms. Warren, it is politics pure and simple. It's the politics of corporate fascist traitors, the Republican party, in a cabal with corporate interests, against the Amreican citizenry. How does it play out? It depends on how well that citizenry is informed come Election Day. I genuinely fear for this country. People like gt just don't understand where we are. Thank you for your tireless work on our behalf. Now, go beat Senator Brown!!

    July 18, 2011 06:47 pm at 6:47 pm |
  6. The Real Tom Paine


    Bloated crap? You consider holding banks accountable " bloated crap" after the mess they created? Its clear the Banking Comminttees cannot be trusted with oversight, due to the flood of special interest money, so this is the only alternative. I see you never held Phil Gramm responsible, even though he authored the legislation that permitted the distinctions between commercial and savings banks to be dropped, but you certainly made sure to mention Dodd and Frank again. You certainly can't win points for objectivity. Btw, how do you tie the missions in Iraq and Afghanistan to this? Why stop there? Why not talk about the subsidies to the oil industry, or the holes in the tax code that allow corporations to evade taxes here? I'm waiting.

    July 18, 2011 06:50 pm at 6:50 pm |
  7. Four and The Door

    $1 billion more cost a year along with 2,500 more federal government employees to duplicate regulation? These are the kind of programs we should be cutting right now, not creating.

    July 18, 2011 07:10 pm at 7:10 pm |
  8. DOCinPA

    God, I love this woman! And, I certainly don't mean that in a romantic way. She is one of the smartest, most compassionate, understanding, erudite, "for the people" individuals I have ever seen in the political realm in my sixty-one years. Wait a minute? Maybe I DO love her!

    July 18, 2011 07:18 pm at 7:18 pm |
  9. Jack V

    Why is the GOP wanting to push America back to the 19th century?

    July 18, 2011 07:51 pm at 7:51 pm |
  10. nobama

    Items you won't see in this forum

    1) Obama's lying about his mothers health insurance and shamefully using her death for political gain
    2) Follow-up on Fast and Furious fiasco, who knew what, when?
    3) The continued extensive access to the White House by lobbyists
    4) Obama granting himself the power to appoint czars and provide waivers for lobbyists
    5) Financial ties to the waivers granted from Obamacare.

    A free press is granted by the Constitution, a complicit press is an enbarassment.

    Will anyone in the media have the guts to ask the questions and demand the answers? I doubt it. Todays press is lazy and ill prepared by our increasingly liberal universities and colleges. Step up CNN,

    July 18, 2011 07:54 pm at 7:54 pm |
  11. Whoosh

    A very intelligent and smart lady. Unlike these other female fools (gt, 4 and the door, glenda, Va;) She is able to think for herself and form her own opinions without prefabricated sound bites. Those Punk A$$ committe members were absolutely out of it. They should bow their heads in shamed. People do not like dumb women, Palin, Bachmann, Romney and that crowd included. Period! Go forth Senator Elizabeth Warren your day on the mountain top is coming. Don't treat them the way they treated you.

    July 18, 2011 08:28 pm at 8:28 pm |
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