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The Value of Creative Destruction

Posted by Jacquette at 28th September, 2010

Originally published in Financial Profundities on September 28th

By now, you probably know that President Obama has

selected Elizabeth Warren to oversee the establishment of the Consumer Financial Protection Bureau (CFPB). Like the major financial agencies that came before it (e.g., FDIC, Glass-Steagall (repealed in 1999) and the SEC), the CFPB is being created to correct policy ills that contributed to an economic crisis. With the CFPB, Ms. Warren has an opportunity to do what wasn’t done after the formation of these other agencies.

Personally, I think she is perfect for the role and the new agency’s mission, and I hope she eventually gets nominated and confirmed to actually lead CFPB. She has the perfect combination of knowledge, political savvy, and passion, ingredients she’ll definitely need as she takes on the unenviable and monumental task of fixing things that are broken while building things we aren’t even yet aware of needing. What Prof. Warren is preparing to do on a policy level is exactly what you and I need to do on a personal level: reflect, react and re-envision.

To continue reading “The Value of Creative Destruction” please click here!

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About Jacquette

Jacquette Timmons has written 2 articles on this blog.

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