The Warren Conundrum

As I mentioned last evening, we were trying to get more clarity about what power Elizabeth Warren would be able to wield in her new, yet-to-be-announced advisory position at Treasury. That has not been easy to do. The White House isn’t talking, and three of senators most involved in the passage of financial regulatory reform told us this morning that they have no idea what position Warren is reportedly being given or what it entails. Hill aides are also unclear whether the position that’s been described is intended to run the new consumer protection bureau or just help set it up, as the reports suggest. If this was a trial balloon, I’m not sure it was airworthy enough even to get off the ground.