She is just more slime for obama to appoint in his quest to destroy this country.
On Sun, Jul 25, 2010 at 9:53 AM, dick thompson <[email protected]>wrote: > EDITORIAL Elizabeth Warren Published: July 24, 2010 > > - > FACEBOOK<http://www.nytimes.com/2010/07/25/opinion/25sun3.html?th&emc=th#> > - TWITTER > - RECOMMEND > - SIGN IN TO E-MAIL > - > PRINT<http://www.nytimes.com/2010/07/25/opinion/25sun3.html?th=&emc=th&pagewanted=print><http://www.nytimes.com/2010/07/25/opinion/25sun3.html?th=&emc=th&pagewanted=all> > - > REPRINTS<http://www.nytimes.com/2010/07/25/opinion/25sun3.html?th&emc=th#> > - SHARE<http://www.nytimes.com/2010/07/25/opinion/25sun3.html?th&emc=th#> > > <http://www.nytimes.com/adx/bin/adx_click.html?type=goto&opzn&page=www.nytimes.com/yr/mo/day/opinion&pos=Frame4A&sn2=f8475720/9aad5d74&sn1=ec77b465/65acc4bd&camp=foxsearch2010_emailtools_1225558c_nyt5&ad=Conviction_120x60_06.18&goto=http%3A%2F%2Fwww%2Efoxsearchlight%2Ecom%2Fconviction> > > President Obama should nominate Elizabeth Warren to head the new Bureau of > Consumer Financial Protection, and not only because of her credentials. > > Ms. Warren — a bankruptcy expert at Harvard Law School, an Oklahoma native > whose father was bilked of his savings by a business partner — developed the > idea for the bureau in a 2007 article. Since then, as head of the panel that > monitors the bank bailouts, she has become one of the nation’s most > prominent consumer advocates. > > There are other candidates, of course. What Mr. Obama needs to recognize is > that this particular job, at this particular time, is about more than > competence. As the reform bill went through Congress, the banks were > unrelenting in trying to kill or weaken the bureau. Having failed, they want > influence in selecting its director. > > Meanwhile, polls have shown public mistrust or misunderstanding of the > administration’s economic policies. Mr. Obama’s choice to head the bureau > must demonstrate that he cares more about ordinary Americans than about Wall > Street, that he understands that the public interest differs — sometimes > sharply — from the interests of big banks. He needs someone the banks do not > want, and that someone is Ms. Warren. > > Bank lobbyists say a regulator like Ms. Warren would overreact in > protecting consumers from abusive loans, constraining needed credit. That is > unfounded. In her academic work and in the 2007 article introducing the idea > of the bureau, Ms. Warren has shown that she understands the power of credit > to do good. > > But she also knows credit can wreak havoc. In 2007, she wrote: “For a > growing number of families who are steered into over-priced credit products, > risky subprime mortgages, and misleading insurance plans, trust in a > creditor turns out to be costly. And for families who get tangled up with > truly dangerous financial products, the result can be wiped-out savings, > lost homes, higher costs for car insurance, denial of jobs, troubled > marriages, bleak retirements, and broken lives.” > > The banks don’t oppose Ms. Warren because she doesn’t get it. They oppose > her because she does. > A version of this editorial appeared in print on July 25, 2010, on page > WK7 of the New York edition. > > -- > Thanks for being part of "PoliticalForum" at Google Groups. > For options & help see http://groups.google.com/group/PoliticalForum > > * Visit our other community at > http://www.PoliticalForum.com/<http://www.politicalforum.com/> > * It's active and moderated. Register and vote in our polls. > * Read the latest breaking news, and more. -- Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more.
