Banksters on the attack against Elizabeth Warren

[marmar]

from AlterNet:




Posted by Zach Carter at 10:34 am
July 27, 2010

4 Bogus Talking Points That the Banking Crowd Is Using to Attack Elizabeth Warren
Posted by Zach Carter on @ 10:34 am


No reformers question whether Elizabeth Warren is the best candidate to head the new Consumer Financial Protection Bureau. She’s a lauded scholar, an inspiring advocate who will draw talented and dedicated reformers to the new agency and she came up with the whole idea for creating the CFPB in the first place. Nominating a dedicated reformer like Warren will send a clear signal to the entire world that the U.S. government is serious about regulating the banks that drove the global economy off a cliff. Nominating anybody else will send a clear signal that bankers still have veto power over key political appointments.

By contrast, there are no compelling arguments against appointing Warren. Four have basically been offered, and they are all so weak that it’s hard to view them as anything but bad-faith excuses to block somebody the bank lobby simply doesn’t like. There’s a perfectly rational reason for the bank lobby not to like Elizabeth Warren: she’s spent much of her career explaining how elite bankers rip off American families, and there is every reason to believe she will crack down on this behavior if she’s given the CFPB post. That’s not a knock against Warren—that’s what the CFPB director is supposed to do.

Here are the lousy objections that bankers and their apologists are voicing:

Bogus Talking Point #1: Elizabeth Warren is insufficiently attuned to the benefits of financial innovation.

There is simply no evidence for this claim whatsoever. Her career has been devoted to empowering the American middle class. She wants to see financial innovations, she just wants them to be good for the middle class, rather than tricks and traps designed to extract its wealth and convert it into bonuses. This is part of Warren’s political appeal. Not only is she right about policy, but her policies resonate with American families left, right and center. Find me a politician who is willing to publicly advocate for tricks, traps and big bonuses, and I’ll show you a politician who can’t get re-elected. ...........(more)

The complete piece is at: http://blogs.alternet.org/speakeasy/2010/07/27/there-are-zero-good-arguments-for-blocking-elizabeth-warren/

[katanalori]

1. I am hoping

that she will be a recess appointment. Who needs this crap from the Repukes protecting the banksters?

[cascadiance]

2. Those who claim she isn't tuned in to the real facts on where the middle class stands...

... should be made to watch this video of her from UCTV that in effect predicted much of the messes we are in now, and how the working class has been screwed over the last decade or so...


http://www.youtube.com/watch?v=akVL7QY0S8A

[mdmc]

3. ..

[Odin2005]

4. #1 = WAAAAH, she doesn't accept our LIES!!!