Statement: Sanders on Consumer Financial Protection Director Nomination

Sen. Bernie Sanders made the following statement at a Capitol Hill press conference alongside Sen. Tom Harkin and members of the U.S. House of Representatives:

"I think most Americans believe that the Wall Street Reform bill signed into law yesterday by President Obama is a step in the right direction. 

"But, I also believe most Americans feel that 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.

"The American people want someone who is prepared to represent them vigorously and someone who, when appropriate, is prepared to stand up to the enormously powerful CEOs on Wall Street who have fought so hard against any meaningful consumer protections.

"It's clear to me that Professor Elizabeth Warren is that person.

"Number one, she understands what this Consumer Financial Protection Bureau is all about because it was her idea in the first place.

"Second of all, as a Professor at Harvard and as an author of several books on the decline of the middle class, she has real world experience as to what corporate abuse in financial services means to ordinary Americans.

"And, third, putting aside her knowledge and legal background for a moment, what I like most about Professor Warren is her capability to relate to ordinary Americans in a language that everybody can understand.  Professor Warren visited Vermont a couple of years ago and held several town meetings with me on economic issues and I was very impressed at how she could discuss complicated issues in a language that everyone could understand.

"So, it seems to me that if we are serious about this agency truly representing working families; if we want someone who is knowledgeable about consumer protection and the needs of the middle class; if we want someone who has the courage to stand up to the powerful special interests on Wall Street; and if we want someone who is a great communicator; then I think the logical choice for this position is Elizabeth Warren."

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