Bloomberg: Obama Eyes Ex-Banker for Consumer Chief

[flpoljunkie]

It would be refreshing for President Obama to visibly fight for Elizabeth Warren to head the CFPB and recess appoint her, if need be--especially if Republicans have vowed to block anyone he nominates to head the agency. That said, if Elizabeth Warren say she does not want the job and recommends her deputy Raj Date, I will respect her decision.

Obama Eyes Ex-Banker for Consumer Chief

By Carter Dougherty, Robert Schmidt and Mike Dorning -
Jun 8, 2011

President Barack Obama is considering nominating Raj Date, a former banker with Capital One Financial Corp. (COF) and Deutsche Bank AG, as head of the Consumer Financial Protection Bureau, according to a person briefed on the process.

Date is already at the consumer bureau, working as a top deputy to Elizabeth Warren, the Obama administration adviser who is setting up the new agency. He is on a short list of candidates to become director, the person said.

Obama hasn’t made a final decision on who to nominate to the post, which requires Senate confirmation, the person said. The agency is to begin formal operations on July 21, one year after Obama signed the Dodd-Frank financial regulatory overhaul into law.

Date’s nomination could be a way for the Obama administration to tamp down political controversy over the leadership of the consumer agency, which is one of the centerpieces of Dodd-Frank. Warren could urge her supporters to endorse his nomination, and his industry experience has been praised by banks that would fall under the bureau’s oversight.

Still, after 44 Republican senators announced last month that they wouldn’t vote to approve any candidate to run the bureau without changes in its structure, the White House might have to resort to a temporary appointment during a congressional recess. Sixty of the 100 senators are effectively required to vote for a nomination due to procedural rules.

http://www.bloomberg.com/news/2011-06-08/obama-eyes-ex-banker-for-consumer-chief.html

[OKNancy]

1. He can't do a recess appointment. The Republicans aren't going to recess n/t

[flpoljunkie]

2. Maybe, maybe not. We will see.

[ProSense]

3. When Warren selected Date

the NYT did a hit piece on Date that also tried to tarnish Warren.

This is interesting from the OP: "Warren could urge her supporters to endorse his nomination, and his industry experience has been praised by banks that would fall under the bureau’s oversight."

President Obama hasn't made a decision. If Warren wants the job, why would the President not appoint her? Whether it's Warren or Date, Republicans are not going to approve.

[OKNancy]

4. I hate to post this because who knows who reads, but

this would be a cool subterfuge. Obama could make noise about giving up on Warren, then the Repubs could think they won.. then they go ahead and recess thinking plans are to nominate Date instead. They had previous planned to stop any recess appointments by not officially calling a recess. Then BOOM.. Obama appoints Warren on recess.

Edit to add this:
Rumor has it there’s still a Democratic majority in the Senate, but the GOP-led House is considering a plan to not send an adjournment resolution to the Senate, and either way, Senate Republicans object to the unanimous consent agreement that’s required to adjourn.

Ergo, there will be no literal recess and no opportunities for recess appointments.
http://www.washingtonmonthly.com/political-animal/2011_05/no_recess_appointments_for_you029867.php

[vroomvroom]

5. Let's be honest...Obama is no strategist...His decisions are mostly to please Republican Backers

this is the real reason he is not going to ever apoint Warren. He only needs Warren to rally his base .but seeing as how July is coming and he most definitely doesnt want to upset republican backers (eg banks he will choose a bank friendly replacement and then have Warren come out to endorse him.

He will NEVER come out to endorse Warren...never!

Obama's decisions are always the same...if in the end it doesnt hurt banks/big business he will go that way....republicans will always be against Obama but republican backers are what matters to him.

[flpoljunkie]

7. Then why would Obama choose Elizabeth Warren to set up the CFPB knowing big banks would disapprove

[flpoljunkie]

6. I agree.