July 30, 2010


Elizabeth Warren and the Democratic Base

Paul Krugman makes the political case for picking Elizabeth Warren as the head the new consumer financial protection agency.

"Mr. Obama's attempts to avoid confrontation have been counterproductive. His opponents remain filled with a passionate intensity, while his supporters, having received no respect, lack all conviction. And in a midterm election, where turnout is crucial, the 'enthusiasm gap' between Republicans and Democrats could spell catastrophe for the Obama agenda."

"Which brings me back to Ms. Warren... protecting consumers, ensuring that they aren't the victims of predatory financial practices, is something voters can relate to. And choosing a high-profile consumer advocate to lead the agency providing that protection -- someone whose scholarship and advocacy were largely responsible for the agency's creation -- is the natural move, both substantively and politically. Meanwhile, the alternative -- disappointing supporters yet again by choosing some little-known technocrat -- seems like an obvious error."










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