Tim Fernholz has cannily obtained some video of Elizabeth Warren speaking at the progressive Roosevelt Institute about the Obama administration’s record on consumer financial protection issues. She seems pretty enthusiastic:
My read is that this is probably the banking-related topic on which there’s the least daylight between the Obama administration and the left. For example, last week I spoke to Assistant Secretary Michael Barr and asked him, given that you never get 100 percent of you want out of the Senate, what specific congressional action most disappointed him and he cited the auto dealer carveout from consumer protection rules. On something like breaking up the biggest banks, the left and the administration were on different sides of the fight. But on consumer protection, there’s little if any daylight. If you click over here you can download Lawrence Summers’ Okun lectures on “Learning from and Responding to Financial Crises” from way back in spring 2008 and see him talk about how consumer protection functions need to be handed to an independent agency.