by Jeff Sovern
The prospect of Elizabeth Warren heading the Consumer Financial Protection Bureau continues to elicit discussion. Two Bloomberg columnists have weighed in recently: Jonathan Alter wrote Why Obama Should Fight Hard for Elizabeth Warren, while William D. Cohan countered with Elizabeth Warren Should Bow Out for Change. Cohan's argument is that Warren "has made herself so bloody disagreeable on Capitol Hill that she has obliterated her chance of winning the Senate votes she needs to be confirmed." He cites the McHenry disgrace of last week as evidence. In other words, it somehow became Professor Warren's fault that a Congressman apparently reneged on a deal with her and effectively called her a liar for objecting to his behavior. Of course, as Cohan noted, that Congressman wouldn't have been able to vote on her confirmation anyway, because he's in the House, not the Senate. Meanwhile, 44 Republican Senators have said they won't vote to confirm aynone to head the Bureau unless the Bureau's power is reduced--meaning that the President has nothing to lose by nominating Elizabeth Warren because neither she nor anyone else can be confirmed.