Barack Obama actually said...

"I have known Elizabeth Warren since law school."

"I am very grateful that Elizabeth has agreed to serve in this important role of getting the Consumer Financial Bureau up and running and making it as effective as possible."

"Throughout the summer, President Obama has met with families to listen to their concerns and to discuss specific ways to jumpstart job creation and strengthen the middle class."

"President Obama has named Harvard law professor Elizabeth Warren as the person in charge of getting the government's new Consumer Finance Protection Bureau going."