Excuse Me While My Head Explodes

So, someone in the Obama administration is floating the idea that it would be a good to make (likely soon to be former her election is still to close to call) Congress woman Melissa Bean head of the Consumer Financial Protection Bureau? (CFPB)

Yes, the Democrat most hostile to both to banking regulations in general and to the CFPB in general, is being mooted by some idiot in the Obama administration economic team *cough* Timothy "Eddie Haskell" Geithner *cough* being the first official head of a bureau dedicated to protecting consumers from predatory lenders.

If Elizabeth Warren played the role of Martin Luther, protesting the corruption in the system by nailing her 95 theses to the door of the church, then Melissa Bean is the Church of Wall Street's Temple Prostitute, selling indulgences.^*

And someone in the Obama white house wants her to head the CFPB.


Never heard of Melissa Bean? Well Jane Hamshire has the bill of particulars: (quoting)

• Bean voted AGAINST Audit the Fed.
• Melissa Bean and the New Democrats were able to shoot the House derivatives plan full of holes.
• Melissa Bean introduced an amendment to gut a House bill to limit bonuses for TARP recipients. It passed.
• Melissa Bean “earned the most support of any incumbent from the US Chamber of Commerce.”
• Bean received over 40% of her 2009 campaign contributions from the finance, insurance and real estate sector.
• She led the charge on behalf of the Wall Street banks to include “federal preemption” in the legislation, meaning that state regulations could be no tougher than the federal guidelines. Heather Booth, director of Americans for Financial Reform, said that “Bean’s amendment was considered the biggest threat to the CFPA.”

Seriously, if Barack Obama nominates her for this post, it will show that he is completely in the pocket of the banking industry.

To be fair, this could be an administration official, *cough* Timothy "Eddie Haskell" Geithner *cough*, free lancing, but I am inclined to see this as deliberate and calculated. This administration revels in message control.

^*Yes, I know, this is a badly mixed metaphor.