Financial reform legislation has been signed by President Obama — and whether some critics want to accept it or not, this is another huge success for the administration.
While President Obama’s successes could have been bigger in my view, better sequenced, bolder, and done in such a way to boost American jobs and infrastructure — and designed to enhance America’s global position — it is clear that his successes in health care, financial reform, and his nuclear summitry are important landmarks for a presidency trying to work its way out of the deep ruts left by the last administration.
Now that financial reform is enacted into law, the President must nominate a strong leader to run the new consumer protection bureau.
The Bob Rubin-raised and cultivated economic team surrounding President Obama that thinks that a job is a job, in contrast to what Leo Hindery has been saying — high-wage jobs and manufacturing and innovation-related jobs matter more than cheap service sector jobs — needs to be balanced with economic governance approaches that put America’s working middle class first.
The best champion of American consumers and the American middle class on the scene today is clearly Elizabeth Warren.
Warren should be the head of this new consumer protection bureau.
I have just signed Senator Bernie Sanders‘ (I-VT) petition that his team sent me yesterday.
If you feel so inclined, feel free to add your name to the petition. If not, I respect those who see the situation differently — but its about time that at minimum, the White House got a ‘team of rivals’ on economicy policy rather than just a ‘Team of Rubins.’
— Steve Clemons