WASHINGTON, DC - President Barack Obama this week will tap Harvard Law professor Elizabeth Warren. When the First Lady heard about it, she went through the White House roof.
White House officials haven't formally ruled out the possibility of tapping her at a later date, but the move could quell an uprising by anti-tapping advocacy groups.
The move came after Mr. Obama said to White House Chief-of-staff Rahm Emanuel "I'd tap that", when asked what he thought of Ms. Warren.
The bureaucracy was created by the Dodd-Frank financial overhaul law enacted in July. The agency will now have a broad write and enforce rules tied to mortgages, credit cards, and other consumer products. Ms. Warren could end up working to both set up the agency and to apparently satisfy the President's desires.