From ABC News. (H/T Verum Serum)

Excerpt:

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.

Warren currently chairs the Congressional Oversight Panel of the Troubled Assets Relief Program and has been seen by many on the Left as a force for greater accountability and transparency, and a check against the forces in the Obama administration more closely allied with the financial sector. Many officials in that sector eye her warily as too anti-business…

Naming Warren as an assistant or counselor to both the president and Treasury Secretary Tim Geithner would allow the president to bypass a Senate confirmation process that could prove lengthy and contentious.

Morgen writes:

The official White House announcement tomorrow will no doubt emphasize Warren’s role in originating the idea for this agency, and her impressive academic credentials. (Credential number one – she’s a “dear friend” of Obama’s dating back to law school.)

But expect there to be major fireworks over this appointment. Just how anti-business is Warren? Here is only a preview, from her blog on TPM in 2005 (emphasis added):

The middle class is being carved up as the main dish in a corporate feast.  Strugging with flat incomes and rising costs for housing, health care, transportation, child care and taxes (yes, taxes), these folks are under a lot of financial strain.  And big corporate interests, led by the consumer finance industry, are devouring families and spitting out the bones.

Well, I think it’s safe to say she isn’t a fan of this particular industry, if not corporations in general. But with the Consumer Financial Protection Agency charged with regulating everything from mortgages to credit cards, and the companies who market them, you would think it would be helpful to have someone with at least a semblance of impartiality heading it up.

Apparently the White House disagrees.

This is why corporations aren’t hiring. They’re waiting for anti-business Obama to get voted out in 2012.