Tuesday, July 20, 2010

Fighting Wall Street

Sign the petition:
"Elizabeth Warren has proven that she is willing to stand up to Wall Street on behalf of consumers. Please appoint her to the Consumer Financial Protection Bureau."

Sign the petition
Watch Warren on the Daily Show:

Dear MoveOn member,

Have you ever seen Elizabeth Warren on the Daily Show?

She's the Harvard professor and super-compelling consumer advocate who's been pushing for laws to rein in Wall Street and protect everyday Americans.

And last week, Congress passed one of the biggest ideas she's been championing: It created a new federal agency solely to protect consumers. Now, the Obama Administration has to decide who's going to lead this important new agency. Elizabeth Warren is the obvious choice.

But Republicans and Wall Street bankers are fighting her nomination. And even some in the administration are pushing back.1 Why? Because they know she'll hold their feet to the fire.

Americans deserve a tough advocate on their side. That's why we're joining allies across the progressive movement in sending a petition to President Obama and Congress showing that voters overwhelmingly want Elizabeth Warren to head up the Consumer Financial Protection Bureau. Can you add your name? Click below to watch a clip of her on the Daily Show and sign the petition:


The petition says: "Elizabeth Warren has proven that she is willing to stand up to Wall Street on behalf of consumers. Please appoint her to the Consumer Financial Protection Bureau."

Why is Warren facing so much opposition? Because she is a really tough consumer watchdog and advocate.

In her role at the head of the Congressional bailout oversight panel she's been incredibly tough on the Treasury Department for how they spent our money and critical of a housing program that failed to protect homeowners.

And Wall Street knows that she is deeply concerned about banks that are "too big to fail" and would use her role at the head of the Consumer Financial Protection Bureau to hold them accountable.

But she has a lot of support too. A lot of members of Congress support her, including Rep. Barney Frank—the head of the House Financial Services Committee.

And here's what Rep. Brad Miller of North Carolina had to say about Warren:2

"We wouldn't have had a financial crisis if the supposed watchdogs hadn't been ventriloquists' dummies for the banks. The CFPB is a huge win for consumers, but it will have been a waste of time if the CFPB is just one more agency controlled by the banks," Miller told HuffPost. "We need someone to head the CFPB who is smart, tough and independent-minded. Professor Warren fits the bill."

But Wall Street has a lot of friends in Washington. And they're fighting against her nomination.

That's why we need to show our support now. Click below to sign the petition:


Thanks for all you do.

–-Nita, Jeff, Joan, Duncan, and the rest of the team


1. "Tim Geithner Opposes Nominating Elizabeth Warren To Lead New Consumer Agency," Huffington Post, July 15, 2010

2. "Elizabeth Warren to Head Consumer Protection Bureau?" Huffington Post, July 12, 2010

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