by John Nichols
Wall Street speculators, big bankers and all the other insiders who make money by gaming the system -- rather than innovating, creating or contributing anything of value to the economy or the nation -- objected to being regulated by someone who would use not just the the rules but the bully pulpit to hold the robber barons to account.
So Obama went with a safer choice: former Ohio Attorney General Richard Cordray. The head of the CFPB's enforcement division, Cordray was hired by Warren and is a capable and honest player -- so honest that he is all but certain to face a confirmation fight of his own before he can take charge of the new agency, which will be up and running on July 21.
As Progressive Change Campaign Committee co-founder Stephanie Taylor, whose group led a campaign that collected 350,000 signatures backing Warren's nomination said, "Rich Cordray has been a strong ally of Elizabeth Warren's and we hope he will continue her legacy of holding Wall Street accountable."