I think she's the best choice. I would prefer it be her, though I have no idea of her capacities as an Administrator (a suitable No. 2 can be hired for that). With Christina Romer leaving the Council of Economic Advisers, there's a serious girl shortage on the Obama Econ team, and Prof. Warren would fill in that role nicely (or at the Fed).
Either way, Warren not getting this job is not the end of the freaking world. (Plus, she may want to go back to Harvard. Anyone consider that??)
It looks like she ain't goin' back to Harvard.
This from Ezra Klein:
Elizabeth Warren is the frontrunner to lead the Consumer Financial Protection Bureau. She's also, however, a professor at Harvard Law School, which isn't very compatible with taking a full-time job in Washington. Something's going to have to give. And if this e-mail Brady Dennis obtained is any indication, it's not Warren's political ambitions:Fingers crossed.
When fall classes began Wednesday at Harvard Law School, Elizabeth Warren was scheduled to be teaching contract law to first-year students. But something happened on the way to the chalkboard.
"I'm writing to let you know that Professor Jerry Frug will be teaching your Contracts class this term instead of Professor Elizabeth Warren," law school dean Martha Minow wrote to students on Tuesday, according to an e-mail obtained by The Washington Post. "Professor Warren regrets that she will not be able to teach you this fall and we regret the last minute change."
I'd also note that as the election outlook grows grimmer for the Democrats, the White House seems to be picking a new fight on jobs. I wouldn't be shocked if they decided to pick one on consumer protections, as well.