John Talbott writing in Huffington Post points out that Tim Geithner "sees the appointment of Elizabeth Warren as a threat to the very scheme he has utilized to date to hide bank losses, thus keeping the banks solvent and out of bankruptcy court and their existing management teams employed and well-paid."

In a hard hitting article Talbott says that the banks are up to their old tricks, hiding their losses and hoping to quietly rebalance their books by introducing new fees, including reinstating monthly fees for not maintaining a minimum balance in your checking account, charging for online banking transactions that are currently free, or charging to receive a paper statement or talk to a live teller. In other works, soak the consumer a little bit more to cover the losses incurred by their recklessness.

Elizabeth Warren, he says, will bring her "Oklahoma bred sense of honesty, fairness and decency" to the CFPB, turning their plan to deal with trillions in bad assets on its head. In other words, she might actually do what the Bureau is supposed to do -- protect the consumer.

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