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After fighting hard for finance reform, how serious is the Obama Administration about consumer protection? Why will Elizabeth Warren be a White House advisor instead of heading the new agency that will make rules for mortgages, credit cards and other consumer lending? Also, police in London arrest five in alleged terror plot against the pope, and if Glenn Beck can pack the Washington Mall, why can't Jon Stewart and Stephen Colbert?  We hear how a joke might turn into political reality.    

Banner image: President Obama announces Elizabeth Warren will lead the new Consumer Financial Protection Bureau, September 17, 2010. White House photo: Lawrence Jackson

Making News Police in London Arrest Five in Alleged Terror Plot against Pope 7 MIN, 48 SEC

As Pope Benedict XVI was making history in London today, British police arrested five street cleaners in an area where the Pope was scheduled to visit.  They were charged with terrorism.   John Burns reports from London for the New York Times.

John Burns, New York Times

Main Topic Elizabeth Warren and the Politics of Consumer Protection 35 MIN, 46 SEC

Wall Street's worst nightmare is a heroine to consumer advocates. When has a Harvard professor of bankruptcy been the subject of an admiring rap video? Elizabeth Warren, who helped force a Bureau of Consumer Protection into the Finance Reform bill, was appointed today as a White House advisor. How much clout will she have in the future? Instead of heading up the new bureau, she will report to Treasury Secretary Tim Geithner, an occasional foe. Will she have the power to write tough rules for mortgages, credit cards and payday loans? Will she ever be asked to enforce them?


Damian Paletta, Washington Post (@damianpaletta)
David Arkush, Director, Public Citizen's Congress Watch Committee
Bert Ely, Expert on Monetary Policy, Ely & Company
Bonnie Abaunza, Founder, Main Street Brigade

Reporter's Notebook Stewart's Rally for Reason Meets Colbert's March for Fear 7 MIN, 26 SEC

Since Glenn Beck drew a crowd of conservatives to the Lincoln Memorial, fans of Jon Stewart and Stephen Colbert have been begging them to do the same thing. Last night, Stewart announced a "Rally to Restore Sanity," also know as "The Million Moderate March." Colbert calls his gathering the "March to Keep Fear Alive." Dana Milbank often takes a satirical look at politics in his "Washington Sketches" column for the Washington Post.

Dana Milbank, Washington Post (@Milbank)

Tears of a Clown

Dana Milbank

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