Senate Republicans End Their Opposition to Elizabeth Warren as Head of the CFPB -- Sorta

Over at CitizenVox, David Arkush (pictured on right) has this interesting essay on the Senate Republicans' decision to end their opposition to Elizabeth Warren to head the new Consumer Financial Protection Bureau. The tactic is not borne of a love for Warren. Here's an excerpt from David's piece:

Yesterday, 44 Senate Republicans signed a letter to President Obama stating that they will oppose any nominee to head the Consumer Financial Protection Bureau (CFPB) unless the Bureau is first weakened dramatically. This is an interesting development. Here’s what’s really going on, that the papers won’t be reporting: This letter signals that the Senate Republicans have surrendered their fight against Elizabeth Warren. In recent weeks there has been a strong, growing belief in Washington that the president will nominate Warren to head the CFPB. ... Warren is an outstanding champion for consumers. If the American public gets more exposure to her, they will love her. Wall Street and its congressional allies would be bruised and muddied by a nomination fight; she and the CFPB would be strengthened.

The American Banker has reported today on the same topic.