Mr. Johnson, let me suggest a small, but not insignificant correction to your title; "Treasury makes another mistake".

Johnson sez: "Failing to appoint Elizabeth Warren would be the straw that breaks the camel's back. It will go down in the history books as a turning point - downwards - for this administration."

***
Ahem.
The "turning point - downwards" for this administration came between its election and its inauguration, while its current lineup was being assembled.

FISA was the last straw.
Anyone, like this author, who supported Obama after that
was either a sap, or playing others for a sap.

Please!!
If anyone saw who paid for Obama campaign and his voting record and his advisors and still hoped for real change, you were already a "sap".

Revolution is the only solution!!

Meet you in the streets!

The Glass-Steagall Act of 1933 signed by President Roosevelt remains at least in a tie as the most important economic legislation of the last 75 years. The Gramm–Leach–Bliley Act of 1999 signed by President Clinton which repealed the Glass-Steagall Act and enabled the current depression/recession is second most important if not tied with the 1933 bill. The recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act, which neither seriously reforms Wall Street nor protects consumers, isn't even in third place. The 1944 Servicemen's Readjustment Act (GI Bill of Rights) which provided funds that opened up higher education to masses of veterans was a more serious and genuine reform than the Obama's Dodd bill ever pretended to be.

Some grave robber who gave Obama a lot of money will get the job, not Elizabeth Warren. Obama will wonder what all the fuss is about. He will give one of his usual phony speeches.

Petition for Elizabeth Warren

http://act.credoaction.com/campaign/pick_warren/?r_by=10087-2937758-KhhElvx&rc=confemai

the author's 1st mistake is thinking that obama will do ANYTHING for WE THE PEOPLE....

the 2nd is thinking that warren has ANY chance at all.....

screw obama - screw geitner - screw summers!

The "tipping point" and downward spiral for this administration began long before this.

A deliberate cross-posting by Trylon:

I wouldn't wish the job of heading the new Consumer Financial Protection Bureau upon my worst enemy. I predict it will soon become a psychological nightmare for the incumbent.

Elizabeth, by a chance of my procuring, you will be visited by three ghosts - the Ghost of Consumer Protection Past, the Ghost of Consumer Protection Present, and the Ghost of Future Consumer Protection. Expect the first when the bell tolls ONE.

(Back of hand to pained forehead) LOOK TO SEE ME - - NO MORE!!!

"The straw that broke the camel's back," and what's anybody going to do about it? Unless we have violent revolution and the rich get what's coming to them, we'll just have to toady along.

When, if ever, are we going to cease and desist from giving His Imperial Highness Barack Obama a free pass and call him on what he is and what he is doing to this country?

Hellllloooo Chris Matthews, Keith Olberman, Ed Schultz, Rachel Maddow, Brian Williams, Katie Curic, Dianne Sawyer and the unnamed cadre of sychophants that keep trying to convince us that Obama is actually the Second Coming.

Please!

Excellent by Simon Johnson! I hope Obama will take his advice and exercise option 1

Better to be outside than a part of this corrupt administration. If you have scruples you are not wanted by --look whose a part of it. Capture does not begin to describe the members of this administration, nor deep capture, nor even corrupt, for that would assume the person had some greater sense of duty or obligation to start with. Just assume that whoever gets this job is ready, willing and able to serve banker's interests first and foremost.

> This can now go only one of two ways.

Option 3

Elizabeth Warren makes a deal from behind closed doors and gets the job. One month later, she's becomes a part of them or goes her own way and gets fired.

The problem with our present capitalist government-by-maladministration, even a supposedly Lesser Maladministration, is that seeding the ranks with a token worthy administrator here and there isn't going to make much of a difference.

Ms. Warren may be the second coming of Brooksley Born, a seemingly honest reformer run out of town by the über-banksters*.

But if Warren IS installed as administrator of this cockamamie regulatory agency-- which is ultimately another governmental front or cover for Wall Street-- it won't be because Team Obama is genuinely interested in rigorous regulation and reform.

If it happens, it will happen because of some insane, wretched Team Obama "realpolitik" logic-- perhaps Warren will be lowered like a handful of sweetened feed into the Veal Pen to take the bitter Dawn Johnsen taste out of the mewling calves' collective mouth.

And once in place, as the Born travesty reveals, Warren will either be subject to the death of a thousand cuts or maneuvered into a bureaucratic corner treadmill and invited to knock herself out.
_____________________

* See: http://en.wikipedia.org/wiki/Brooksley_Born

In any other country our Treasurey Secretary would currently be incarcerated and unable to block anything. But, unfortunatly, money still talks and bull shit still walks.

Or maybe Barak O'Bush will surprise us and pick William K. Black, Yeh right.

By the way, does anyone know if that Congressional Committee investigating the finanical collapse is actually doing anything? Maybe they will bring the "change" that the savior promised. I am not going to recommend holding your breath.

Elizabeth Warren has absolutely NO chance. She is first "NON" crimminal to graduate from HARVARD in several years.

Barak O'Bush will up the anty from the boys over at Wall Street. This presidency will become the richest bunch of thieves in the history of our country. They are going to give George W. and President Chaney a run for their money.

Elizabeth Warren and her tiny band of 'consumer protectors' versus Big Bankster.

It's just like David and Goliath - except David is an ant and Big Bankster is that planet eating thing from Star Trek episode 35, 'The Doomsday Machine.'

I feel super extra protected already...

Wake up Simon, this administration turned downward from the beginning. Unfortunately docile people will increasingly be hammered. The system is rigged to reward the rich and to punish working people. It's been doing so in flashing lights since the beginning. Those who cannot see it choose not to see it. Yes, you too should be worried as the rich eat from the bottom and work their way upward ultimately even consuming themselves. It's an orgy of greed.

Preaident Obama. I am a progressive. Whatever you do, DO NOT nominate Elizaeth Warren for CFP agency head.

Maybe that'll work.

Two things that no longer matter much, if anything at all–

"...and the White House needs to understand this, plain and clear - there will be complete and utter revulsion at its handling of financial regulatory reform."

"Failing to appoint Elizabeth Warren would be the straw that breaks the camel's back."

These pathetic hopes are indicative of how Progressives–confronting a desert of options– continue to grasp at straws and hope for saviors, when there are none.

A Warren appointment would only be a craven act of opportunism and cynicism of political PR. It would be similar to appointing a well intentioned, but disempowered 'liberal' to plug the dam after the flood gates have long ago opened leaving a lunar surface of utter destruction in their wake.

The White House does not care about "complete and utter revulsion," when it has almost set the gold standard for atrocity? From whom, pray tell, will this disgust come? The New York Times?

And there never was a "camel" with a "back to break" to begin with.

There is only America.

At first I thought the phrase "tin ear" applied to the
administration. But that is too weak. Maybe going over to
the "Dark Side" is appropriate.

I couldn't care less about Barakus Obombus, but Elizabeth Warren deserves this appointment. If she doesn't get it, that should shatter the illusions of those so easily deluded.

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HOPE in Obama is worth as much as the CHANGE in your pocket.

HOPE in Obama is worth as much as the CHANGE in your pocket.