Tuesday, August 18, 2009

The Most Dangerous Woman in Finance...

...comes off as just a mother telling the neighborhood kids how to behave, in this clip from MSNBC's Morning Joe Show. It seems that Arnold Kling and Paul Kedrosky have already fallen in love with this Mommie Dearest.

She seems anti-bailout and anti-big bank, i.e. anti-Goldman Sachs et al, because she is completely anti anything not completely run by the government. Notice in the clip when the question is put to her about waiting for commission results before making any regulatory changes, she jumps right in and says that action needs to be taken now. That's the totalitarian like regulator in Warren speaking.

She is really just a major Obama front, for government control of the entire financial system. As I have previously reported:

...Elizabeth Warren. Warren is a Harvard Law School professor and has collaborated with Americans for Fairness in Lending.(AFFIL)

AFFIL is "a non-profit organization designed to draw national attention to the unregulated lending industry in America. AFFIL’s ultimate goal is government regulation of the lending industry to protect American consumers from financial products which deplete assets and can lead to bankruptcy and foreclosure." AFFIL is an umbrella organization for groups working on lending and asset-building issues. Its official partners include: ACORN.
When the Oversight panel that Warren heads came out with its first report, two members dissented. When was the last time you saw public, written dissent, on an Oversight panel?

Wrote the dissenters (Pdf), former U.S. Senator John E. Sununu and Richard H. Neiman, Superintendent of Banks for the State of New York:
...we are concerned that the prominence of alternate approaches presented in the report, particularly reorganization through nationalization, could incorrectly imply both that the banking system is insolvent and that the new Administration does not have a workable plan.

Here's Larry Kudlow on her involvement with the Obama financial regulatory "reform" proposal:
Then there’s the new Consumer Financial Protection Agency. This provision was apparently written by liberal-left Harvard professor Elizabeth Warren, a staunch foe of free markets and an overzealous supporter of consumer-as-victim rights. Among its massive powers, this agency would enforce the Community Reinvestment Act, which has for years forced banks and other lenders to throw mortgage money at borrowers who cannot afford it. And the consumer protection would reach deep into bank supervision as well. What a mess.
No wonder she's all for new regulations! It's her regulations, and she is rumored to be Obama's choice to head the new Consumer Financial Protection Agency.



  1. hmmmm
    when it comes to banking, shouldn't this be just another utility like service run by the state, with commodity money.

    i am all for fair markets and freedom, but profiting through dishonest weights and measures while providing a simple utilitarian trade service for commerce amongst free people and corporations seems unAmerican and anti-Constitution to me.

    i like her postion

  2. Why would banking be a utility? Are groceries stores a utility? How about car dealerships? DO you want to go live in the Soviet Union in the 70's so you can get a feel for how well 'utilies' provide goods and services? Given that you have no idea what bankers actually do you should probably do a little more research before throwing around pseudo intellectual terms like "weights and measures".

    On a side note, Warren is a complete idiot and is exactly why the government should be kept away from everything. She's never had a real job and she has no idea how the private sector operates. These soft headed talking heads just feed her nonsense.