Friday, September 17, 2010

First Elizabeth Warren Show is Tuesday

On Tuesday, Treasury Secretary Tim Geithner and Elizabeth Warren, Assistant to the President and Special Advisor to the Treasury Secretary, will host a Mortgage Disclosure Forum at the Treasury.

According to the Treasury, this forum will bring together "a broad range of stakeholders and experts to seek their input on the steps that the Consumer Financial Protection Bureau  will take to simplify mortgage disclosure forms, so that consumers have the clear and easy-to-understand information they need to make the financial choices that are best for themselves and their families."

Among those invited, according to Treasury:
Consumer advocacy groups, housing counselors, financial literacy experts, mortgage company representatives, and other stakeholders.
Note: Please do not be mislead into thinking the CFPB will be just about simplifying mortgage documentation. You don't need a $400 million dollar annual budget to do that. Further, changing language is about changing terms. Warren was tasked with overseeing TARP and spent a good part of that time analyzing if the banking industry should be nationalized.


  1. What do you think her first move will be? Forcing smaller banks to buy up Treasuries or much worse?

  2. Her first move will be to test the limits of her powers. While this woman is woefully incompetent to hold such a powerful and destructive office, she has demonstrated that she enjoys having real power. She is intoxicated by it, so I have to beleive she will test the Obama administration to see just how far she can go. What it will be, who knows, but you can bet it will happen.

    Think about it this way. You go from being a stodgy professor where the best you can hope for is to make a case well enough to possibly influence others to a position where you can use force and the threat of violence to make people see things your way. How can you not become consumed by that? Of course, in her mind she will justify her actions as all despots and tyrants do by assuming that what she is doing is best for the people who know not what is best for themselves.