From the NY Times:
President Obama is expected to announce in a Rose Garden ceremony Friday afternoon that he is appointing Elizabeth Warren to head the Consumer Financial Protection Bureau as his assistant. But hours before the formal announcement, Ms. Warren issued a folksy message on the White House Blog about why she is taking on the job.
I'm not sure how one achieves "folksiness" in the NY Times' view, but I conclude it must be by referencing one's grandparents. There is little that is folksy about her post to the WH blog.
President Obama understands the importance of leveling the playing field again for families and creating protections that work not just for the wealthy or connected, but for every American. The new consumer bureau is based on a pretty simple idea: people ought to be able to read their credit card and mortgage contracts and know the deal. They shouldn’t learn about an unfair rule or practice only when it bites them—way too late for them to do anything about it. The new law creates a chance to put a tough cop on the beat and provide real accountability and oversight of the consumer credit market. The time for hiding tricks and traps in the fine print is over. This new bureau is based on the simple idea that if the playing field is level and families can see what’s going on, they will have better tools to make better choices.
Or maybe "folksy" is code for "language everyone can understand." If so, we should all be more folksy. It would go a long way toward improved market efficiency and equity.
This and Jon Stewart's Rally to Restore Sanity have provided me with the first real audacious hope I have felt since the turn of the century.
Addendum: It appears I may have misread this. Here's Yves Smith suggesting this is a way to sideline Warren. I'll continue to hope it's a way to get her in the back door. If not, then shame on BHO. Where's the audacity? Where's the change?