Letter to President Obama on Professor Elizabeth Warren

Dear President Obama:

It is time for you to give taxpayers, consumers, and investors a reason
to believe that you are truly interested in consumer protection by
nominating Professor Elizabeth Warren to be the Director of the
much-anticipated Consumer Financial Protection Bureau (CFPB).

Warren combines rigorous scholarship, a superb sense of needed change
and clear ways to communicate those needs to families and individuals
around the country. Consumer leaders know that Professor Warren has been
a strong and talented Chair of the Congressional Oversight Panel (COP)
reviewing the current state of financial markets and the regulatory

In addition, Professor Warren had the vision and good sense to propose
and advocate for the creation of an entity much like the Consumer
Financial Protection Bureau.

It is troubling that Shahien Nasiripour, Huffington Post business
reporter, wrote in a July 15, 2010 article: "Treasury Secretary Timothy
Geithner has expressed opposition to the possible nomination of
Elizabeth Warren to head the Consumer Financial Protection Bureau,
according to a source with knowledge of Geithner's views."

It is equally troubling that on NPR's Diane Rehm Show, Senator
Christopher Dodd, Chairman of the Banking, Housing and Urban Affairs
Committee attempted to further undermine Professor Warren. Today's
National Journal Online reports that when "Asked about Warren, who is
chairing a special commission created to oversee the bank bailouts, Dodd
said that 'no idea is terribly creative if it can't sell' and he asked
rhetorically about Warren, 'Is she confirmable?'"

With Senator Dodd showing a lack of leadership or willingness to fight
for Professor Warren, and with Treasury Secretary Geithner seemingly
preferring someone who is more willing to fight for Wall Street
speculators with other peoples' money than consumers and investors on
Main Street, it is imperative that you issue a strong and clear
statement of support for Professor Warren now.

Wall Street's "picks" for high positions in your administration have met
with your concurrence again and again. Now it is time for the
overwhelming choice of Professor Warren by consumer groups in Washington
and all the country to be respected.

If you wish to make this an adverse political issue for November, you
can. Or you can be a responsive leader and secure Senate confirmation
for the peoples' choice.


Ralph Nader

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