July 31, 2010
The WSJ has an article today about Senate Banking Committee Chairman Chris Dodd’s efforts to promote FDIC Chair Sheila Bair as the head of the new Consumer Financial Protection Bureau. Near the end, it notes the support for Harvard Professor Elizabeth Warren, the leading contender, but then tells readers that: “others worry that choosing someone seen as too activist—a charge leveled at Ms. Warren—could turn public sentiment against from the agency.”
This naturally leads readers to wonder about the identity of these mysterious “others.” Do they have names? Do they have specific positions relevant to this discussion (e.g. CEOs at Bank of America and Citigroup) or are they just a random cross-section of America?
And what does it mean that activism will “turn public sentiment from the agency?” It is believable that the financial industry will be upset about the agency if they block many of their initiatives, but do we really think this would spark a mass uprising?
If only we knew who these mysterious others are then we could ask them such questions. But as it stands — it’s all so mysterious.
Hat tip to Gary Therkildson.
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