Chris Dodd warns White House on Elizabeth Warren move

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Senate Banking Committee Chairman Chris Dodd (D-Conn.) said Thursday the Obama administration is leaving a new consumer protection bureau "vulnerable" by circumventing a confirmation process to name Elizabeth Warren to help create the new agency.

 

The top Senate negotiator on the Wall Street reform law has repeatedly expressed his opposition to naming an interim or recess appointee to run the agency. But sources say President Barack Obama plans to name Warren as a presidential adviser, charged with setting up the agency in a position that would not require Senate confirmation.

 

"We need a director. And you need someone that's confirmable. And anything short of that, I think, you put this bureau in some jeopardy. Without it being established and up-and-going. it's vulnerable," Dodd told reporters. "We still need a nominee. I hope that they send up a nominee sometime in the next few weeks, even in the lame duck, I don't see why [we] can't have hearings and consider who should actually run the place."

 

 

 

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