We have a first here on this blog in the category of verifying predictions (or veridiction, as I call it) as we have a “half-right” prediction.
On the February 2, 2010, episode of the radio program Marketplace, David Skeel, a professor of corporate law at the University of Pennsylvania, made this prediction concerning the Consumer Financial Protection Agency (CFPA):
“The real question isn’t whether there will be a CFPA. There will be.”
That prediction came true with the passage of HR 4173, which created the Consumer Financial Protection Bureau.
Professor Skeel went on to say, regarding Elizabeth Warren, that if she were to head the CFPA, that would mean that Congress put the interest of consumers ahead of banks. However, if she was still at Harvard, this would mean the banks have won.
Professor Skeel only receives half-credit for this second comment because while Elizabeth Warren was tapped to head the CFPB, this only came to be because President Obama gave her a recess appointment. Therefore, Congress did not approve so we cannot tell yet if the banks or the consumers have won (according to Skeel).
I guess we’ll have to wait and see whose name the President does send up to Capitol Hill to be approved.