CFPB Rumors Baffling

I just don't get it. Why is the White House floating Raj Date, one of Elizabeth Warren's top lieutenants at the Consumer Financial Protection Bureau, as the agency's potential director?

Don't get me wrong, Date is eminently qualified for the job. A former banker and financial analyst, Date no doubt has the chops for the post. What I don't understand is the political motivations behind floating his name.

Last week, Bloomberg News caused a stir by reporting that Date was on the shortlist to head the agency, along with his boss Warren. The news sent the media into a flurry, mentioning that Date may be a compromise candidate who pleases liberals but soothes anxieties among Republicans because of his solid financial experience.

For starters, I don't think liberals will be pleased if anyone but Warren gets the job, even if she gives Date her blessing. And perhaps more important, it is doubtful Republicans will suddenly embrace Date. The Senate GOP has vowed to oppose anyone — anyone — Obama nominates unless he agrees to structural changes at the agency. Does anyone believe that if Date were nominated, the Republicans would suddenly withdraw their objections and approve him?

The White House won't say what it's up to. The only explanation that would make sense to me is that the White House decided to encourage Warren to run for Senate in Massachusetts against Scott Brown. Such a move would at least pacify her liberal supporters, who want to see Warren head the agency on a formal basis. But polls show she would start a hypothetical campaign trailing Brown by about 14 points. Not very encouraging for her.

I can't understand why else the White House would tout a potential replacement for Warren, even one as well suited for the job as Date. It's the kind of thing that makes the Obama White House — which has inexplicably failed to nominate the heads of several key banking regulators — look even more disorganized than it did before.

— Rob Blackwell

Agreed. This move makes no sense. Frankly, Warren needs to be confirmed to head the agency she pretty much created and then — finally — allowed to do her job. If politicians in Congress want to obstruct her, the administration needs to single them out and embarrass them for their obstruction.