Monday, July 18, 2011
Elizabeth Warren Going Back to Massachusetts
Cue the Bee Gees who sang the mega hit "Massachusetts" back in 1970s. Having missed out on the nomination to be the head of the Consumer Finance Protection Bureau -- an agency that was her brainchild -- Warren will be packing up and going back to her home state.
She declined to say if she was planning to run for the Senate and lauded the new agency. She dodged a question about JP Morgan Chase's Chairman and CEO Jamie Dimon's criticism of heavy regulation coming from the Dodd-Frank Act, which Dimon said last month was impeding the progress of the recovery.
Although Warren was believed to be the Obama Administration's favorite to head the agency, she was hugely unpopular in Congress and faced fierce opposition.