Attacks Bankers and Their Political Puppets Are Using to Attack Elizabeth Warren

[G_j]

http://www.alternet.org/economy/147667/4_bogus_attacks_bankers_and_their_political_puppets_are_using_to_attack_elizabeth_warren/


4 Bogus Attacks Bankers and Their Political Puppets Are Using to Attack Elizabeth Warren

Warren is a lauded scholar, and an inspiring advocate who will draw talented and dedicated reformers to her cause.
July 29, 2010

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:

http://www.alternet.org/economy/147667/4_bogus_attacks_bankers_and_their_political_puppets_are_using_to_attack_elizabeth_warren/

[Phoebe Loosinhouse]

1. And, like clockwork

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=387489&mesg_id=387489

[G_j]

2. LOL -nt

[dgibby]

3. Beat me to it!

My excuse: only one cup of coffee this am. That's my story, and I'm sticking to it!:rofl:

[G_j]

4. ==

[G_j]

5. A Convincing Case for Elizabeth Warren

http://motherjones.com/kevin-drum/2010/07/convincing-case-elizabeth-warren


A Convincing Case for Elizabeth Warren

— By Kevin Drum
| Thu Jul. 29, 2010 8:42 AM PDT

Karl Smith thinks the criticisms of Elizabeth Warren's academic work are probably overblown, but argues that she'd be a poor choice to head the new Consumer Finance Protection Bureau anyway. Like Paul Krugman, he says, she's an intellectual steamroller with strong opinions:

Having the formidable, and seemingly strong priored Warren at the head of CPFA is dangerous. She seems to have strong beliefs and the analytical ability to plow through anyone in her way. A cold-hearted pointy head would make a better referee.

That’s not to say that passion has no place in intellectual discourse, but it is why its important that passions balanced. It doesn’t matter how good your intentions are, confirmation bias and a lack of diversity will leave glaring blind spots.

Consider me convinced. For a position like this — the very first head of an agency that needs to develop both a strong identity and an ethic that puts it squarely on the consumer's side — I think this is exactly what we need. Cold-hearted pointy heads are pretty useful in some areas, but not this one. We don't need a referee right now, we need a pioneer. Elizabeth Warren for CFPB!

[G_j]

6. ==