According to Prof Krugman’s blog, Prof Warren will be a member of the bailout oversight board! (Krugman links to a short article at The Politico)
For more about Prof Warren, see wikipedia.
Non-professors out there (like myself) might recognize her from her interview in the mediocre credit documentary, Maxed Out.
For more about Ms. Warren, here is a transcript of an interview she did with PBS Frontline – Secret History of the Credit Card (available for viewing in its entirety online. God bless PBS).
Does Joe Biden know about this? As VP, I assume he no longer cares about the support of his corporate sponsors in Delaware?
Will the powers of the oversight board be significant enough for Prof Warren to exert enough influence to counter all the forces that will be arranged against her in Washington (and Wilmington).
Anyways, like Krugman, I am blowns aways. This is fantastic news and a great gesture even if her position is not one of great authority. It also reflects a willingness to accept those of differing viewpoints in the Obama administration (I would imagine Warren and Biden could not differ more on bankruptcy laws and credit card policy, based on Joseph Biden’s repeated votes for the bankruptcy bill which I mentioned previously here). It should be safe to assume that Reid and Pelosi did not nominate Prof Warren without input from the President and Vice President-elect.
UPDATE:
Elizabeth Warren is quoted in the New York Times article here (found at Calculated Risk). CR’s post discusses bankruptcies further and the impact the 2005 bankruptcy law that Biden was so fervently in support of passing.
… and the cow goes moo
[...] to his inauguration, he made surprising and commendable moves such as appointing Elizabeth Warren to oversee the never-ending bank bailout. Even Krugman was surprised and impressed by [...]
[...] move that will have a long-lasting positive effect for America as a whole. This is like the Elizabeth Warren call-up from a few months back. Easily overlooked, but a substantive move towards restoring the concept of real public [...]
[...] had celebrated Warren’s appointment as the one Obama appointment I was definitely happy with at the time. Now it sounds like she will last barely past the first 100 days of the administration, if what [...]