An increasing number of Washington observers see improving odds that Elizabeth Warren will become the head of the important new Consumer Financial Protection Bureau, surviving mixed feelings from the Obama administration and determined opposition from bank lobbyists and Republicans.Senator Richard Shelby has the correct take on Warren. He told Bloomberg TV:
I would hope she's not confirmable. I would not support Warren. She's the guru dealing with behavioral science, trying to change everything. This is a power grab. Whoever has that job has awesome power over our economy.During the height of the financial crisis, she wanted to nationalize the big banks. She is as interventionist as it comes and doesn't understand basic economics, starting with the price system and supply and demand. She's one dangerous woman.
Now there are some murmurs that President Obama may make her a recess appointment, which would me she could serve as the head of CFPB for about a year and a half before any confirmation would be required.