Elizabeth Warren testified before Congress Thursday that the government isn’t doing their job investigating the nation’s big mortgage companies on their potentially illegal conduct in mortgage cases and illegal foreclosures. Warren appears to be throwing caution to the wind by taking on the government and the Big Banks. Her role as head of the new Consumer Financial Protection Agency has been hopelessly stalled in Congress, and President Obama (no surprise here) appears unwilling to stand up against the objections of Republicans and the banking establishment.
The Wall Street Journal and Bloomberg News reported Friday that Obama has chosen a candidate for head the CFPB and it won’t be Elizabeth Warren, the main force in creating and developing the consumer agency. A heroic figure like Warren standing up for consumers apparently has no place in our Capitol, where Business rules everything.