isn t he naming her to run it? reporter: well, jon, the president says the consumer financial protection bureau was elizabeth warren s idea, and he has suggested in the past that he would like her to run it, but democrats, frankly, don t think warren could be confirmed to the post by the senate because republicans see her as such a consumer advocate. warren herself says the bureau she will set up will put a new cop on the beat to look after the consumer credit market, and even though she won t be the cop, she will help write the rules governing credit cards, mortgages and consumer loans. and because of the way the law is written, she could effectively run the bureau until sometime in early 2012 if congress doesn t con firm a bureau head sooner than that. jon: republicans are generally opposing her, why? reporter: well, she s seen as anti-industry based on years of being an advocate for the middle class and based on comments that were sharply critical of banks when she headed the co
the left, and many people from all sides of the aisle, from the middle to the left, wanted her to become the official head of the agency. problem. required senate confirmation. didn t look like that could happen. a number of people opposed her. certainly the financial firms in wall street opposed her appointment in that regard. the solution, name her a special adviser. she ll be there at the creation of this brainchild of hers just not walking in the front door. she ll be walking in the side door. why? because deg nating her a special adviser can only last for about a year and a half, but will enable her to perform all the functions she might normally be performing without having to go through that senate confirmation process. this morning ms. warren had a web blog posted on the white house website that said the new law creates a chance to put a tough cop on the beat and provide real accountability and oversight of the consumer credit market. the time for hiding tricks and
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announcement. mike is live on the white house north lawn. so she s going to be temporarily advising the president. explain, this mike. reporter: well, she could serve conceivably about midway into 2012. that s the way this is set up in the law if you look at the language involved here. you re right, if they make it official today, savannah, kind of, she s being appointed in this advisory role to sidestep the senate confirmation process that would have been problematic. she s essentially walking in the side door of this house that she herself created, her own brainchild. this consumer protection bureau that was part of that fraud financial reform package that passed congress and was signed by the president earlier this year. now, earlier today, elizabeth warren posted a blog on the white house website where she says the new law creates a chance to put a tough cop on the beat and provide real accountability and oversight of the consumer credit market. the time for hiding tricks and tra