“Special adviser” is the new czar. Facing stiff opposition and pointed questions about the left-wing, anti-business advocate that he wanted to nominate as chairman of the new federal consumer financial protection bureau, President Obama once again circumvented the Senate’ constitutional advice and consent role and installed Elizabeth Warren with a wave of his hand: Consumer advocate Elizabeth Warren will help set up a powerful new watchdog agency policing the financial marketplace on behalf of ordinary borrowers and savers, a Democratic official said Wednesday. But it’s unclear whether the Harvard University law professor will end up running the Consumer Financial Protection...