How The Federal Reserve’s Failed Consumer Protection Alone Makes Elizabeth Warren The Only Choice

.com? It was a bold move, saying to reporters and their funders that they would kill this. And they didn’t. But it is in the Federal Reserve. It isn’t an independent agency. The Federal Reserve could be a powerful place for this agency, perhaps even more so than if it was independent, but it is far more crucial that the first appointment is an outsider. The Federal Reserve’s track record has been horrible, and it has been horrible in the worst of crony ways. An outsider with a bold plan for the agency could use the strengths of the Federal Reserve with incorporating few of the weaknesses.

There are certainly a lot of people qualified on the inside. But if all these people want to do is climb the Federal Reserve’s ladder, keeping this agency quiet and unproductive is going to be a major gold star on the resume. Elizabeth Warren is an outsider here, and her actions on the Congressional Oversight Panel show that she can stand up to the Federal Reserve. And without an outsider to the regulatory apparatus leading the CFPA, with a generic Federal Reserve choice, we could end up with yet another person nodding along with the banking executives at how all these lucky duckies don’t appreciate anything.