Due Diligence [1]

Elizabeth Warren To Head Consumer Protection Agency

Some brokers and banks will be disappointed to learn that Elizabeth Warren will probably head up her Consumer Protection Agency after all. So says an article in today's New York Times. The Harvard law professor conceived the idea for the agency.

According to the article, she would oversee the creation of the agency as an assistant to President Obama, thereby circumventing a potentially contentious confirmation process in the Senate. Some have complained that she's too pro-consumer to do the job. But it seems like a pro-consumer bent would be the first prerequisite to run an agency meant to protect consumers.

Here is the Times story [2].