Bill Cohan, Columnist

Elizabeth Warren Should Bow Out to Spur Change: William D. Cohan

May 31, 2011 at 4:01 AM UTC

William D. Cohan, a Bloomberg View columnist, is the author of the forthcoming "The Price of Silence: The Duke Lacrosse Scandal, the Power of the Elite and the Corruption of Our Great Universities," as well as "Money and Power: How Goldman Sachs Came to Rule the World" and the New York Times best-sellers "House of Cards" and "The Last Tycoons." Cohan is a contributing editor at Vanity Fair and writes frequently for the Financial Times, Fortune, the Atlantic and the Washington Post. He worked on Wall Street as a senior mergers and acquisitions banker for 15 years. He also worked for two years at GE Capital. Cohan is a graduate of Duke University, Columbia University School of Journalism and Columbia University Graduate School of Business. "The Last Tycoons" won the 2007 Financial Times/Goldman Sachs Business Book of the Year Award.

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Surely Professor Warren is clever enough to see the proverbial writing on the wall. The inconvenient truth facing Elizabeth Warren, the controversial Harvard Law School professor President Obama would like to run the newly created Consumer Financial Protection Bureau, is that she has made herself so bloody disagreeable on Capitol Hill that she has obliterated her chance of winning the Senate votes she needs to be confirmed.

Accordingly, for the good of the country, she should stop the charade now and resign her temporary post at the new agency so that a more politic leader can be found (and confirmed), enabling the agency’s important work of protecting consumers from all sorts of predatory behavior to get underway full-throttle.