Posted by: Joe Eds | March 21, 2011

The Warren Threat

In the last year I’ve been planning a transition in my personal life from a career in the film industry to one of public service. While I don’t have a super-specific idea of where my new career will end up (nonprofits versus working in the government, for example), next Fall I’ll be enrolled in Master’s in Public Affairs program that will help set my course. One of the many reasons I decided to take this trek is pure and simple inspiration. Few people have inspired me as much as Elizabeth Warren. She’s no phony. She’s the real deal. A Harvard law professor and bankruptcy expert, she is currently in charge of setting up the new Consumer Financial Protection Bureau.

Warren over the past few years has become the most credible person in the arena of financial protection. Paul Krugman dedicated his entire column today to her:

More than a decade ago, when politicians of both parties were celebrating the wonders of modern banking and widening access to consumer credit, Warren was already warning that high debt levels could bring widespread financial disaster in the face of an economic downturn…

The fact that she’s so well qualified is, of course, the reason she’s being attacked so fiercely. Nothing could be worse, from the point of view of bankers and the politicians who serve them, than to have consumers protected by someone who knows what she’s doing and has the personal credibility to stand up to pressure.

Warren is being attacked in a recent House Finance Committee meeting for overstepping her role by advising state governments and attorney generals. The GOP is making a big overreach on this, Krugman (and I’m in agreement) feels the white house should use this is as an example that the GOP cares little about finance reform.

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Responses

  1. Interesting post.
    Good luck with the public service in future.


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