Wednesday, July 28, 2010

Elizabeth Warren: Fighting the Good Fight


Anyone who's been following Elizabeth Warren on cable tv knows she's an expert on the state of the country's financial health.  She has testified before Congress.  She is an expert on news/talk shows. This Harvard Law School professor has been studying "families, debt and bankruptcy for almost three decades". As far back as 2003, she predicted by the end of this decade (2010) "one in every seven families will go bankrupt." In 2005, one out of every 53 families filed. The numbers peaked in 2006 and, while I do not know if she hit the mark, below is a chart on personal bankruptcy filings from 1992-2009 (double click to enlarge):


This is the woman who, in 2005, fought the financial industry's successful campaign to make declaring bankruptcy a tougher propostion (thank you Congress, in particular Chris Dodd).  At the time, this same industry  was marketing unsustainable loans based on unrealistically inflated property values to consumers, also known as the subprime mortgages.  She was appointed by Senate Majority Leader, Harry Reid, to chair the congressional oversight panel for the Troubled Relief  Asset Program better known as TARP.

Elizabeth Warren is the architect of the newly formed Consumer Financial Protection Bureau. There is hot debate over whether or not she should lead the Bureau. 

While many hope she gets the job, others are not quite as excited.   


All I know is, anyone "who's been a sharp critic of" Geithner "and a sharp critic of Treasury policies" is the one for me!

6 comments:

Judy said...

I’m laughing so hard now!.... cause I thought this was going to be a serious video!
But seriously, Elizabeth Warren is my heroine! I almost typed “heroin” but she does make me feel high with optimism.

I have to send my friends over to your blog to see this :)

California Girl said...

Thanks Judy. I thought it was funny too. I love it when they post what they're really thinking!

Marguerite said...

Too funny! Elizabeth Warren is awesome and I hope that she gets the job.!

Nancy said...

Love it! I'm absolutely with Elizabeth Warren. Tim's remained what he always was - a "company man."

Mama Zen said...

I love that video!

California Girl said...

Marguerite: she really is awesome.

Nancy: That's a very apt description of Geithner.

Mama: I know.

Christina

Christina
by Cole Scott