Elizabeth Warren

Jeff Sovern of The Hill wrote in a piece about how well qualified Elizabeth Warren is, yes, if you want another Harvard wind bag with radical left wing views that will seek to punish the evil Capitalists, she's a great choice!

Be honest, the Social Democrat controlled Congress is still encouraging people to put 3.5% down, the Social Democrats shamelessly blame bankers for “predatory” lending to home buyers while at the same time speak out the other side of their mouth about how proud they are of their affordable housing initiatives.

Those same initiatives made any regulatory concern about lower underwriting criteria impossible, and indeed sued banks and blocked mergers if they did not meet lending targets to people who by definition could not afford the homes for which they were getting loans!

Make no mistake, Ms. Warren claims to want competition but she paints the banks as "racing to the bottom to develop new ways to trick customers." So what she wants to do is create a 'stable' industry, read, regulate to death! Stable industries like the broke Postal Service the government runs, a world of limited competition but lots of guarantees, and little or no productivity growth.

Ms. Warren doesn't trust a market to provide quality services and products because “evil” CEOs “lure” their customers into thinking they want things they really don't. No, Ms. Warren, that’s what the government does! A better definition of a bleeding heart Liberal cannot be found.

I think she might be successful in her primary objective, to use the financial crisis to transform our nation into a Socialist state which she views as being immune from financial crisis. One little problem there Ms. Warren, this cripples GDP growth, as an example I sight the Cold War, remember that?

Ms. Warren’s approach to the finance/banking industry is to throw the baby out with the bath water!

What Ms. Warren does like is the unions all out push to pass the newly enacted Fin Reg bill. That reform bill gives unions the ability (through their pension funds) to put union activists onto the boards of publicly-held companies. Oh, I am sure the “evil” Capitalist Stock holders love that. You know them, the 50% of Americans who own stock! You know them, the same 50% that will get hit with dividend taxes once the Bush tax cuts expire. By the way, that 50% encompasses the middle class, the same ones Obama promised would see no new taxes! Remember that?







Under the recently signed financial reform legislation, there is also a newly created Bureau of Consumer Financial Protection and guess what America, it will be headed by a new Czar! Yes, the President gets to hand pick another czar, which is what makes the fact that the SEIU and AFL-CIO are lobbying hard for a Lefty named Elizabeth Warren so interesting.




SEIU President Mary Kay Henry will “raise the point that Elizabeth Warren would be an excellent head of the newly created Consumer Protection Agency” in private talks with Treasury Secretary Timothy Geithner, according to a senior source with the union.

The AFL-CIO’s Richard “the Fifth” Trumka has also weighed in on Ms. Warren stating:

In our view, there is only one candidate who is uniquely qualified and equipped to head this new agency. Harvard Law School Professor Elizabeth Warren originated the idea of the Consumer Financial Protection Bureau, and has proven as Chair of the Congressional Oversight Panel to be a strong and fearless advocate for the American public.




Yes, I am sure he feels that way, so did Hitler about Goebbels!



Ms. Warren’s Big Union support stems from her support for the nationalization of banks as she did as chair of the Congressional Oversight Panel (COP). As COP Chair, her panel, according to Forbes columnist Thomas F. Cooley, “seemed completely politicized” (IMAGINE MY SURPRISE) when it issued the following controversial report:

The report essentially argues for nationalization on the grounds that, under government reorganization, bad assets can be removed, failed managers can be ousted or replaced and business segments can be spun off from the institutions. “Depositors and some bondholders are protected, and institutions can emerge from government control with the same corporate identity but healthier balance sheets,” the report argues, parroting a position that has been staked out by many prominent economic pundits.

Ms. Warren is another Socialist Ideologue who is on a crusade against the banks, her report was so radical a majority of panel members dissented from the report and two refused to sign it at all.

This likely explains why such high profile people as the SEIU’s Mary Kay Henry and the AFL-CIO’s Trumka would be going so far out publicly to push for a particular czar.

If it’s for the nationalization of another industry (see auto and health care for reference), then Ms. Warren is your man! That would make it complete by the way, the Socialist agenda would come to fruition, they will have your health, your means of transport and your wallet.

That's my opinion.