Good News for Massachusetts, Bad News for America (sort of)
The Bad News: With President Obama nominating former Ohio Attorney General Richard Cordray to be the head of the new consumer financial protection agency, it means the mastermind of the agency herself, one Elizabeth Warren, will not execute the plans she has been putting in place. Though Cordray could be a great guy, he is no Elizabeth Warren.
The Good News: Massachusetts just picked up its Democratic candidate for Senate in 2012 to face-off against Scott Brown. She would make a different breed of politician in that she is earnest, contrite, thoughtful, sincere, and has enough understanding of what is wrong with America that she may be able to actually fix some of it. Oh, and she is not in the pocket of any interest, that is, except the consumers, and possibly her 6.5 million constituents of the Commonwealth.
So instead of overseeing her own federal agency, she could advocate for a state’s people and probably be a fairly good national trustee. Though I will enjoy seeing her on the Senate floor or grilling someone in a committee, her power as a Senator will be 1 of 100, whereas she would have been able to unilaterally perform several functions. However, when she gave her speech at Berkeley in October 2010, she made the agency seem pretty weak, with “transparency” being their number one tool.
Either way, as long as she is in government with some power I will be happy. Also, facing Scott Brown will be make for a pretty entertaining Senate race, full of disgusting ad hominen attacks toward her and one sided debates (if he agrees to any).