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Tuesday, 20 July 2010 03:15

Senator Bernie Sanders Urges President to Name Elizabeth Warren to Head Consumer Protection Agency

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BuzzFlash couldn't agree more with the following news release from the office of Senator Bernie Sanders, a BuzzFlash reader.

WASHINGTON, July 20 – Sen. Bernie Sanders (I-Vt.) urged President Obama to pick Elizabeth Warren to be the first director of a new consumer protection bureau.

Obama on Wednesday plans to sign into law a bill overhauling financial regulations that would create the new Bureau of Consumer Financial Protection.

In a letter sent to the White House on Monday, Sanders wrote that “at a time when doubts about Wall Street and its practices run very deep … American consumers need a federal government that is looking after their best interests.”

Sanders acknowledged that some senators may oppose Warren. “Good!” he wrote. “It will allow for a serious debate as to the role that government should play in protecting the American people against the outrageous behavior we have seen on Wall Street.”