BURLINGTON, Vt., Aug. 13 – Sen. Bernie Sanders (I-Vt.) today pressed for President Obama to name consumer advocate and Harvard Professor Elizabeth Warren to head a new Consumer Financial Protection Bureau created by the new Wall Street reform law.
“Elizabeth has played a great role in standing up to Wall Street. Given that the outrageous greed, recklessness and illegal behavior on Wall Street caused the horrendous recession that we are still suffering through, it is absolutely necessary that we have a strong, smart consumer advocate who will look out for their needs as the head of the Consumer Financial Protection Bureau,” Sanders said.
“Maybe the biggest reason to support her is that the big banks are pulling out all the stops to block her nomination. They are afraid of having someone looking over their shoulder who knows the ways they rip off consumers and will make them stop it,” Sanders added.
Sanders took note of concerns voiced by some about whether Warren could win Senate confirmation. “She has a very good chance to be confirmed, but it is a fight worth having. This is a debate that has to happen.”