Warren's playing hooky

School may be out for Elizabeth Warren, but for Wall Street, class may be in session. Yesterday, reports indicated the Harvard University Law School professor isn't expected to teach a contract law class that she typically runs.

Instead, she is being replaced by another professor, Jerry Frug, which is lending more credence to the belief the cerebral professor is getting closer to being tapped to lead a new consumer agency created out of the new financial regulatory reforms.