Officials in the Democratic Party are wooing Elizabeth Warren to run for the Senate against the Massachusetts Republican Scott P. Brown rather than have her continue to set up the new Consumer Financial Protection Bureau. ...NYT
Republican senators are blocking her nomination to set up the CFPB. The possibility of losing a Republican seat to her may force them to give in or, if she wins, staying in the minority in the Senate.
In seeking to enlist Ms. Warren for a different campaign, Democrats are taking aim at two birds. They can lay the groundwork for a potential compromise over a different candidate to lead the new agency and, they hope, they can increase their chances of reclaiming Mr. Brown’s seat by sending against him a woman who has won considerable acclaim and popularity among liberals for taking on the financial industry.
So, what are the odds that she'll accept? According to the Times, "party officials say she is intrigued but far from decided."
What about the CFPB?
Under the law that created the Consumer Financial Protection Bureau, it will assume authority on July 21 for enforcing a wide range regulations. But it will not gain the authority to write new rules until a permanent director is in place. That has left Mr. Obama with a choice between appointing Ms. Warren during a Congressional recess or looking for a compromise candidate.
