Sunday, January 24, 2010

Not Good: Elizabeth Warren Called to the White House...

...after Scott Brown victory.

Ethan Porter has broken the news that President Obama called Elizabeth Warren to the White House, after the Republican Scott Brown won the Massachusetts special election.

This is a very dangerous sign. Obama seems to be turning away from the limited free market advice he was getting, towards stronger intervetionist advice. First, it was Obama buying the asinine Paul Volcker recommendation to block proprietary trading at banks, which had as much to do with the fundamental cause of the financial crisis as did the manatee I just saw in Biscayne Bay.

For Obama to bring in the former ambulance chaser Warren, who when tasked with oversight of TARP managed to turn that oversight role into a cheerleader position for full nationalization of the banking industry, we are all in trouble.

Warren giving advice to the President is a sign of desperation on the part of the President. If his poll numbers continue to fall, he will do further desperate things. Warren will take advantage of this. Even though she has no clue as to how the economy works, she appears to have an evil skill in knowing how to tap into the genuine anger of the masses, then direct it and twist it towards bizarre interventionist programs. She will kill whatever she touches, the good with the bad, and she now appears to have the President's ear.

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