caller: elizabeth warren should be chosen. i am amazed that the entire country seems to agree about it. host: why do you say that? why are you amazed? caller: republicans, democrats, and independence never agree on anything. that is my experience. i think that we need about 50 of her. i saw her performance in congress. she may be the only one looking out for the american people, it seems to me. host: seattle, washington, john, republican line. we are talking about whether or not elizabeth warren should head the consumer protection agency. caller: i think that she would be good for the american people and she has a nice rack. host: we will go to newport beach, florida. steve, you have voted for democrats and republicans in the past? caller: yes. host: what are you making of some republicans saying that they do not want her heading this agency because they feel she would be more of an activist? caller: i think that that is good. she speaks truth the power. i will also like to suggest that they should also throw brooksly bourne i

fight that's going on today behind the scenes as i and others are pushing for a woman named elizabeth warren to head the consumer protection agency created by this bill she is by far the most qualified candidate and a strong passionate supporter of consumer the bank robber is against and there are rumors which i personally believe that treasury secretary geithner a friend of the bank lobby is against her so let's see if the president does the right thing which i am urging them to do and many of the democrats are urging them to do and names to the strongest consumer advocate elizabeth warren if he does the bill suddenly becomes powerful because they've powerful voices representing consumers if he gives in to the banking lobby and the lobbyists and the lawyers and the bank c.e.o.'s and doesn't name them and they can defeat their own regulator then the delusion continues and this bill will turn out to be a big disappointment so it's with a name to these jobs that's the most important thing but watch the debate about elizabeth warren and the consumer agency it's going to come to a head in a minu

guest: that is one thing in elizabeth warren has of the credit for. it will be to improve disclosures and simplify the process for credit cards and mortgages. everyone who has bought a house knows how much paper work is involved. the agency will be tasked with eliminating the fine print. making sure people know the fees there will be hit with. the mortgage area, because of what we just went through with the subprime lending crisis, will be a primary focus of the agency. host: people have also said the new agency could focus on palance. guest: it is a little awkward how they set it up. it can get big payday loan companies, but not smaller ones. there has been a big push by the left to regulate these payday loans stores which they say charged astronomical rates for short-term loans. the pay the loan industry and many others say these are fees. it is not fair to say they charge 400% of a loan, and is access to credit for people who can get loans from banks. the new agency can go after the big payday loan companies and write rules that probably make it ha

especially that of elizabeth warren. i think she would be an excellent head of that bureau. with that, let me introduce the attorney general from the state of massachusetts, martha copley. she has been engaged in numerous substantial significant lawsuits and settlements tralee holding wall street accountable for their practices. she has been a great partner with the other state attorneys general in this fight. we are proud to have her here today. >> it is a pleasure to be here with my colleagues on this day, the signing of this bill. our congratulations to congressman frank and senator dodd for the tireless work they did. the work they did in this process in working with attorneys general and the reason we are here today is because of the city's financial problems first. you heard tom talk about his work and lisa talk about her work. when i came in as attorney general in massachusetts, where were beginning to look at subprime mortgages. we began and continue to look at how this came about that so many homes are ending up in foreclosure. what is the history behind it? frankly

. >> here is elizabeth warren. banking is based on trust and the basket our page 6 and hold our savings and know how we spend our money. we don't trust them, the whole system breaks down. wall street ceo's have thrown away trust. how can you get that back? >> regulation makes it so they cannot act like casinos and nothing happens. >> i trust the bank, i am not sentimental. i don't care who is in charge. i might leave my money with them if they have money. >> i don't trust anybody. when you end up putting your money in cd's for less than 1% interest, you realize how little trust there are -- there is in the economy. >> we trust you. see you next week for a transcript of this broadcast, log onto inside

we got, in fact elizabeth warren again a great consumer advocate said the committee that i chair passed the consumer bill and told me not even to try because the banks always win but they didn't win today. >> charlie: why were they so insent tinsistent to be inside e federal reserve and not independent. >> because the federal reserve is not being a very effective regulator. the consumer regulation powers are with the bank regulations and the consumer regulation for the bank regulators is an afterthought. i want it totally independent. what we have in fact is total independence. the bureau is housed physically at the federal reserve but no federal reserve towers can be exercised. what it is is a way to get some of the revenue that the federal reserve had been getting for consumer protection and not using very well. and putting them into there. the way i put it is that the mailing awe stress for the consumer bureau will be the federal reserve. no one at the federal reserve can open any of that mail. it's a fully independent consumer agency and there was no power on any federal reserve, in

the leading candidate is clearly elizabeth warren. the agency was her idea, it her brain child, she's a long-time consumer advocate. she would be probably a very effective watch dog. but as you can imagine there's a lot of pushback from the banks. they don't want a watch dog, they want a lap dog. so it remains to be seen whether the administration will have the current to follow through on this agency and put it in hands that are going to make sure it really effective. >> philip swagel, how do you see this consumer protection bureau? >> it one of those things that cob good or it could be harmful, and it depends on how it implemented. the key is that there's a tradeoff between protecting some people, but harming others. that if you crack down too hard, then that means that some people will be protected, but others won't get a loan or won't get a credit card. and that has negative effects, and it's hard to strike the right balance. what i think is the most important is that whoever is in charge of this new agency focus on the substance,

elizabeth warren, a harvard law professor, is considered a leading candidate for that job. >>> a tropical storm gathering 1,000 miles from the gulf oil leak is bringing work at the site to a standstill. some ships could start heading to safe harbor today. and it could be two weeks before they are back in business. the latest satellite image shows a nor organized system that could drench the keys tomorrow before heading into the gulf. john hendren has the latest from venice, louisiana. >> reporter: good morning, rob and vinita. with that oil spill seeming closer than ever to end for good, today, there is the prospect of more delays? and worse. more crude in the gulf of mexico. a gathering storm threatens to set back the clock on the oil cleanup. at sea, these ships could evacuate their post, when relief well work is stopped just days before connecting with the oil. and the cap that stopped oil from spewing into the gulf of mexico. if the storm reaches the gulf, monitoring that leaky cap would stop. >> if we had to leave the well unattended, we would have a gap of three or four days when we

i think the next step has to do with to name elizabeth warren to head the consumer financial protection bureau, which is newly created entity. she's the outspoken harvard, i think she is an american government. that is a big plus. she is the voice of main street. she really does relate to the american people. i think she broken through on television. so i think this is a legislation that doesn't need much. but when it filters down, it will take a while. i think it's a good thing for the consumer and i think banks and wall street and business will learn to live with it. they can have the unfettered free ride they had, which took us into this phi the last couple of years. okay, welcome. >> another star is born. >> all right. >> i don't want to lead the financial reform body, though. i think it would be bad for everybody. i think the problem is wall street will learn to live with it. they'll learn to profit from it. they'll make money from it. they'll make money and consumers will suffer from it. as the restrictions come in and as it becomes more complicated and as this becomes another lay

perpetrators of crime well in the bill there's a provision for a financial consumer watchdog agency elizabeth warren's name has been bandied about clearly if the american people wanted to relieve themselves from being victimized by financial terrorists they would put william k. black in that position he put over a thousand bankers in jail after the s. and l. crisis and you get rid of some of these opportunistic financial terrorists that are stealing your money but i'm not convinced that the average american is truly. truly seeking freedom from this i think they think they at this point they've got now a taste of what a life what it's like to be subjected to this kind of tyranny and i think i think they like it well the way that's all the time we have for today michael kroger thanks again for being on the kaiser report thanks max and stacy appreciate it already and that's going to do it for this edition of the kaiser report with max kaiser and stacy herbert if you want to send me an e-mail please do so at kaiser report at r t t v are you it's all next time this is nice guys are saying by. every month w

. >> after the bill signing, they endorse elizabeth warren to head the financial agency. she currently heads the congressional oversight panel on the tarp program. this is 15 minutes. >> good morning. what a great day this is for consumers of our country. the this is massive legislation. people have focused on various parts of it. what is lost in the shuffle is the tell and how -- is details and how important it is for consumers of our countries. three things to come together in a way that has not happened before to get consumers protection in their transactions. one of the most basic is the creation of a consumer financial protection bureau with in the federal reserve in doing it in a way that has some independence. what have been for so long is that financial regulatory agencies like the comptroller had the authority for consumer protection in these transactions whenever the comptroller of person they are regulates the savings and loan, what is their first priority? it is the safety of their institution . that is the way it should be. it the worst could happen is have o

so, everybody wants to know, will you nominate elizabeth warren to head this agency that she thoughtf? >> i have the highest regard for elizabeth. we have not made a decision about who we're going to appoint yet. but here's my guarantee. elizabeth is going to be working with me, working with tim geithner, the treasury secretary, thinking about how do we make this consumer agency as effectively possible looking out for consumers. she will be actively involved in the process. >> reporter: i wanted to ask you. what are you and the first lady teaching your daughters? >> that's a great question. what i'm doing with malia and sasha, is they get an allowance. they are making money baby sitting. they have their own savings accounts. >> reporter: i have a job for them baby sitting. >> there you go. and what i'm trying to explain to them are basic concepts about savings. about interest. if they keep $100 in their bank account at 2% or 3% interest at six months, this is how much money they'll have at the end of it. >> reporter: has your own retirement fund taken a hit? in other words, can you f

guest: elizabeth warren is such a leader. my time as a staff person on the senate, i got to see her work and she is just a terrific advocate for working people and doing the right thing. in terms of secretary dieter -- geithner, to be honest my only interaction with him is when we have to sign the checks for those borrowing out of treasury. i know the department of labor undersecretary solis is working on fraud to make sure we get every ounce of money the taxpayers are asked us to oversee with such care to the benefit of the american people. i have to assume that directive is coming from the president, and i have to assume secretary geithner and his dad is doing it with the same diligent efforts that we are. host: texas, tammys a democratic caller. good morning. tammy, hello. you are on with jane oates. caller: i just have a couple of questions. one, there are a lotf people in texas who have lost their unemployment benefits and there are no jobs down here. president obama is trying to do hisob. has congress ever tried about t

elizabeth warren has a commitment so we will try to accommodate that obligation. ms.ar and why don't you first begin and mr. barofsky and then we will go down the line there. >> thank you mr. chairman. chairman baucus, ranking member grassley thank you for giving us an opportunity to come back. is a privilege to testify before this committee to release her most quarterly report and i do want to thanyou and this committee for your tremendous leadership in support of our office. our ability to accomplish what we do derives directly from he support of the committee and i'm happy to report senator grassley that we don't have, haven't had any issues or problems getting information in large part because i think those we deal with know that this committee is standing squarely behind us and the repercussions would be severe. our quarterly report to give an update on the previous quarter and has a chairman and ranking member noted for both sigtarp and-- the chairman noted more monies that that is currently outstanding. the loss projections are going down and the cap is getting

elizabeth warren. the woman who thought it up. do you support that? >> she's one of the biggest advocates. she has huge credibility. she played a decisive role. in helping make the public case for reform. she was very early on in this. >> >> 2007. >> she has enormous credibility. he itution.d be an excellent leader make.at institution. that's a decision the president the make. >> some in the white house have aid you have concerned. concerns. she's been a critic of you, and of policies. do you have concerns? >> i don't. oversiplayed an important role in providing oversight to the programs we put in place to break the back of the financial crisis and put out the financial .ire. >> ken feinberg said u.s. banks set out $1.3 billion in bonuses. uring the height of the a.r.p.wn. 17 banks made the payoffs after getting t.a.r.p. funds, after getting bailout funds. >> it's an incredible thing. >> it's that's what he reminded us of. in early '09, on the basis of basismance in '08, in the middle of the worst financial crisis since the great depression, firms tha

. >> charlie: will professor elizabeth warren be the new director of the consumer agency? >> let me just say, she is an incredibly capable, effective advocate for reform. she was way ahead of her time. way ahead of the country in pointing out what was actually happening in the credit business. all the bad stuff was happening -- the looming housing crisis she was pioneering and pointing ought those risks and she is a -- i think probably the most effective advocate of reform we have in the country on these questions, so obviously, i think she would do a great job in that position. >> charlie: is she a candidate? >> that's a judgment the president has to make and we just signed this into law today, looking at how we're going to make sure we put people in all these new jobs who are going to be able to come with great confidence and trust and credibility, and we want to restore the confidence of the american people that the people in these jobs are up to the challenge of providing the protection -- >> charlie: but she has the qualities you're looking for? >> absolutely, without

guest: elizabeth warren is such a leader. my time as a staff person on the senate, i got to see her work and she is just a terrific advocate for working people and doing the right thing. in terms of secretary dieter -- geithner, to be honest my only interaction with him is when we have to sign the checks for those borrowing out of treasury. i know the department of labor undersecretary solis is working on fraud to make sure we get every ounce of money the taxpayers are asked us to oversee with such care to the benefit of the american people. i have to assume that directive is coming from the president, and i have to assume secretary geithner and his dad is doing it with the same diligent efforts that we are. host: texas, tammy is a democratic caller. good morning. tammy, hello. you are on with jane oates. caller: i just have a couple of questions. one, there are a lot of people in texas who have lost their unemployment benefits and there are no jobs down here. president obama is trying to do his job. has congress ever tried a

>> i think elizabeth warren is a terrific candidate. i do not think any criticism in any way by any one would disqualify her. i think she is very confirmable. >> if you have said a couple of times now a fellow this information is not really new. the name of u.s. government officials have said some of the same information. >> i said there were not any new revelations. >> we have known this already. >> it is not the contents. it is the names, the operations, sources, all', the of that information out in a public way which has the potential to do harm. if someone is cooperating with the federal government and of their name is listed in an action report, i do not think it is a stretch to believe that could potentially put a group or individual at a great individual rest. >> this could embarrass officials because this war is in worse shape than the administration and the previous administration had let on. >> in terms of broad regulations, there are not any we see in these documents. we talk about the way of the war is going in afghanistan,

it is harvard law school professor elizabeth warren. treasury department secretary michael barr.e kimmelman. kress, from jackson, mississippi, thanks for waiting. go ahead. "caller: my kids came from the oilfields. i am worried about the future of the people that will come after us. they should not have been there in the first place. if you have the equipment to keep from causing a disaster, they should not have been out there in the first place for the governor and the oil companies should be held liable and shut down. we are talking about millions and millions of lives. we are talking about our ecosystem. it does not matter -- find something else to do. find another job. people go through that all the time. as far as who's fault is, it is all of their fault. these people eat lunch and dinner together. it is a soap opera. they are all involved. nobody should take full blame. most people don't pay attention to what is going on in the world except to watch 50 minutes of it on the news before they go to work. they don't actually know what is going on they can say it is anyone's fau

elizabeth warren, who is a harvard law professor, is considered a leading candidate for that job. >>>r millions who have been out of work for a while. prhe will quickly sign that legislation. >>> a storm gathering 1,000 miles from the gulf oil leak has already stopped work on those relief wells. today the system will bring high winds and heavy showers to the bahamas and florida. but it could drive oil and disperse it onto the shore if it pushes into the gulf. the fleet of cleanup ships could start moving out today ahead of the storm, abandoning the operation altogether. >> if we had to leave the well capped and unattended right now we'd probably be looking at a gap of three to four days where we would not have surveillance on scene. >> if a hurricane does come by it would probably be safer to release some of the pressure by releasing some of the oil to protect that cap and to protect the wellheads. >> some boat captains hired to help skim the oil have already been sent home as the storm approaches. if operations at the site are halted it could take two weeks to get them running again.

>> i think elizabeth warren is a terrific candidate. i do not think any criticism in any way by anybody would disqualify her. i think she is very confirmable for this job. >> a lot of this information is not really new. government officials have said some of the same information. >> i said there were not any new revelations. it is not the content as much as it is their names, their operations. there is logistics, their sources. all of that information out in a public way has the potential to do harm. if somebody is corroborating with the federal government and their name is listed in an action report, i do not think it is a stretch to believe that that could potentially put a group or individual at great personal risk. >> is your concern as well that this is going to embarrass the government officials? did the war in afghanistan is a lot worse off. >> documents purportedly cover from i think january of 2004 to december 2009. i can't speak for the conduct of that war from an operational perspective for most of that time. i do know that w

agency, "the wall street journal" says many in congress, democratic leaders are looking for the elizabeth warren to lead the consumer protection agency. she is a frequent guest on "washington journal." pine hearst, north carolina, republican line, donna, good morning. caller: good morning, greta, how are you doing today? i am a libertarian. it seems like to me, none of them know what they are doing. really and truly. it and you -- you vote republican, they don't know what they're doing. democrat, a bit like to spend money to goods. independents like joe lieberman, he does not know where he is going. take charlie rangel, they have not figured out what to do with him. i just don't know. this is one time where i really don't know who to vote for. i listened to the calls, maybe eventually i will figure out. thank you. have a good day. host: "the washington post" this morning has a front-page story about bp. also this morning on bp, "the financial times" this morning said bp stop refueling iranian airliners. it has also taken out a full- page ad in today's "financial times," making this right. a full

thank you elizabeth warren if you are here. know she will be here later today. for her leadership. [applause] that bill was the most substantial reform in the financial services industry in decades and the most important consumer protection in history, in history. the leverage has change. health care for all americans. no longer will we be deprived of health insurance because of a preexisting medical condition. no longer will a woman be of preexisting medical condition and. but you know the list of things on the house house bill with a rate review and medical loss ratio i'm holding the insurance companies accountable, the leverage has change. this doesn't happen in a republican congress under a republican at illustrion. when they talked about reining in big oilith our bill, what we did take great courage in the use for the members to say no to big oil. big car patch, the oil patch the gas patch, we have every patch in the world but they managed to resolve many of our differences because we had a bigger goal. and the leverage has change. so underand what is at risk when we go into t

that is elizabeth warren standing behind the president. the story today -- larry bird and from the business roundtable -- table said the work that the president to sustain economic growth and job creation. the article tells us the first visible results of the new law may come in about two years, the deadline for the consumer regulator to create a simplified disclosure form for mortgage loans. that is from the president yesterday. on fannie and freddie reform, this is from "the financial times" today. pittsburgh, good morning to you. howard on our democrats line. caller: two things. the first thing is, can you do a "washington journal" evening edition? your program is so popular. i wonder if you could go out at 7:00 a.m. at not -- at night and do a "washington journal" evening program. host: our problem with being consistent about it is that we guarantee live coverage of the house and senate. it would get interrupted many nights in the middle of the week. that is why we started and stopped that idea a few times over the years. caller: liste

i urge the president to appoint elizabeth warren to the post. i yield back. the speaker pro tempore: the gentlelady yields back her time. pursuant to clause 8 of rule 20, the chair will postpone further proceedings today on motions to suspend the rules on which a recorded vote or the yeas and nays are ordered or on which the vote incurs objection under clause 6 of rule 20. record votes on postponed questions will be taken later. for what purpose does the gentleman from michigan seek recognition? mr. leaven: i move to suspend the rules and pass -- mr. levin: i move to pass the bill h.r. 4380 as amend the. the speaker pro tempore: the clerk will report the title of the bill. the clerk: h.r. 4380, a bill to amend the whom niesed schedule of the united states to modify temporarily certain briefs of duty and for other purposes. the speaker pro tempore: pursuant to the rule, the gentleman from michigan, mr. levin, and the gentleman from michigan, will camp, each will control 20 minutes. the chair recognizes the gentleman from michigan. mr. levin: mr. speaker, i ask

mayor shapiro, elizabeth warren, and sheila bair are all strong supporters of this bill. here are a number of important things in the bill. a fiduciary requirement for municipal advisers said the we do not give the kind of problems we have all seen. all those are very important. i am prepared to make compromises. for those who worry about is getting too far, the conservative party prime minister of canada said over the weekend that with this bil america takes the lead in financial regulation and the rest of the world will follow. on the tarp, what it says is this. i prefer the original way. what cbo is saying is this, money repaid to the tarp goes into the treasury and to have made a profit on the big part. what the cbo is saying is that if you spend the remaing on allocated tarp money, you will lose some of it. you will nt get it all back. cbo is a wondrous institution. i am often puzzled by it. i do know that my colleagues have a tendency to love it when it agrees with us and not so much when it does not. that is where we are. given the importance of this bill, i hope t

warren. welcome to the boys' table. >> he's the only single guy in the group. >> i'm here with elizabeth with florida and she has a questionh women who take control? we all know they get lost and need guidance, so what's the issue? >> there you go. guys do have an issue with that. >> don't you call that marriage. >> the whole thing with the control is the gloating about taking the control. it's kind of like, you know, we have roles we have to play. make us think that we're in control. kind of let us think it's our idea. so just a subtle suggestion. >> don't brag if you're right. >> i don't think guys mind if a woman takes charge and it makes their lives easier and they doentd have to sweat it out. >> that's the single guy. >> yaeshgs sounds like a good idea, until it actually happens, you know. there's contributing control as a partnership, and there's control i think this young lady is talking about. kind of like the way a prison tells you what to eat, what to wear. >> are men looking for their mother in a way? >> that's right. i think from my own personal experience the only two words you need to know for a happy marriag