The Associated Press: Obama names consumer advocate Warren to new post: "WASHINGTON — President Barack Obama has named Wall Street critic Elizabeth Warren to help oversee creation of a new agency to look out for the interests of consumers in their dealings with banks, mortgage companies and other financial institutions.
Obama says the agency was Warren's idea so it only makes sense that she be 'the architect' working with Treasury Secretary Timothy Geithner to get it up and running.
Despite her many critics on Wall Street and in the financial industry, Obama says that both he and Geithner agree that Warren is the best person for the job.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
WASHINGTON (AP) — President Barack Obama has named Wall Street critic Elizabeth Warren to help oversee creation of a new agency to look out for the interests of consumers in their dealings with banks, mortgage companies and other financial institutions.
Obama says the agency was Warren's idea so it only makes sense that she be 'the architect' working with Treasury Secretary Timothy Geithner to get it up and running."
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