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Monday, March 21, 2011

postheadericon Rep. Frank: Obama doesn't have stomach for Elizabeth Warren fight

President Obama does not have the willingness to endure an ideological battle in Congress, like nominating Elizabeth Warren to head the new consumer protection agency, a top Democrat said Monday.

Rep. Barney Frank (Mass.), who co-authored the law creating the Consumer Financial Protection Bureau, said that if she was nominated, Warren might not be confirmed to head the agency. While Frank argued that's a fight worth having, he cautioned that the president might disagree.

{mosads}"I think the president is too unwilling to make the kind of fights that don't necessarily win. And I'm not sure she couldn't be," he said on MSNBC's "Morning Joe" program. 

Frank's comments could add pressure on the administration to nominate Warren, a consumer advocate and Harvard Law School professor who has advised Obama in the past.

Warren is a favorite of liberal lawmakers and activists, who say she would hold financial institutions accountable, and curr! ently works as a special adviser helping to establish the new agency. The White House has not yet selected a nominee to permanently lead the CFPB and some lawmakers, like Frank, are still pushing for Warren.

"She's an enormously popular, very thoughtful woman," Frank said.

Other Democrats in Congress have said nominating Warren would be unwise because she could not gather enough support in the Senate to be confirmed due to her views. Then-Sen. Chris Dodd (D-Conn.), who co-authored the financial reform bill with Frank, made that argument last summer.

Frank said it's possible she could win confirmation.

"The Republican Party is united agains! t healthcare, united against the environment. They are not uni! ted agai nst financial reform," he said. "The Tea Party people did not send people to Washington to defend derivatives.

"I think the fight over Elizabeth Warren would be worth having and I'm not sure how all the Republican senators would vote."

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