Dodd Frank About His Ignorance of Dodd-Frank

by Daniel Foster

Sen. Chris Dodd (D., Conn.) said he had never heard of any authority that would allow President Obama to appoint Elizabeth Warren to an “interim” position atop the new consumer protection agency, even though it was his financial regulatory bill that created such authority:

News reports yesterday generated speculation that the Obama administration will offer Elizabeth Warren a so-called “interim appointment” to head the Consumer Financial Protection Bureau. The authority for the Treasury Department to grant an interim appointment — distinct from a “recess appointment” — comes from the financial reform law itself.

In dismissing the rumor last night, though, Senate Banking Committee Chair Chris Dodd — who authored the law — claimed he’d never heard of the interim appointment power.

“I don’t know what it is. I never heard of it before,” said a flabbergasted Dodd to TPMDC. “It’s kind of unique isn’t it?”

More here.