Exclusive: President Obama to This Week Name Elizabeth Warren to Special Advisory Role to White House/Treasury Dept to Form New Consumer Agency - ABC News

President Obama will announce this week that Elizabeth Warren, the Harvard Law School professor who first proposed the Consumer Financial Protection Bureau, will be named to a special position reporting to both him and to the Treasury Department and tasked with heading the effort to get the new federal agency standing, a knowledgeable Democrat told ABC News.

Should Obama bypass Warren, he’ll be savaged by his liberal base for days—a huge August distraction from other priorities. It’ll be the public option on health care times 10. The White House assertion in 2009 that the votes weren’t there in the Senate for a public option didn’t satisfy liberals, but at least it had the benefit of being true. The big question for Obama is how he wants his landmark financial bill to be remembered. If he hopes to imprint it on the national consciousness, the choice is clear. Warren would be like Dr. C. Everett Koop as surgeon general or Dr. David Kessler at the FDA—personifying the message and driving change.

Jonathon Alter - Pick Elizabeth Warren - Obama should relish the fight. - Newsweek