Friday, May 6, 2011

Elizabeth Warren's Charm Offensive

MoJo's Andy Kroll writes:
On her first day running the new Consumer Financial Protection Bureau (CFPB), Elizabeth Warren met with a group of bankers from her home state, Oklahoma. Going into that meeting, Roger Beverage, president of the Oklahoma Bankers Association, feared the havoc Warren, who had developed a reputation as a fierce consumer champion, would soon wreak upon his state's banks. He and his colleagues in the banking industry, he recalls, "had this vision that she was akin to the Antichrist."

Today, Beverage considers himself a Warren convert...The warming to Warren is due, in large part, to a months-long outreach campaign aimed at members of the banking industry. According to calendars posted on the CFPB's website, Warren's schedule has included 150 appointments with industry officials since her first day in September—phone calls, in-person meetings, industry conference speeches, even visits to local bank branches. She's spoken with everyone from Bank of America CEO Brian Moynihan to the head of the American Bankers Association to community bankers in states from Maine to Texas.

The charm offensive appears to be paying off—and at precisely the right time.

Michael Grant, president of the National Bankers Association, which represents more than 100 minority- and women-owned banks throughout the country, is another fan. He met with Warren in February and says he would support her as the nominee to run the CFPB because of her "genuine concern for protecting the rights for consumers and for her appreciation of the role banks play in the financial infrastructure of this country." Grant adds, "She's a win-win both for our industry and for the consumer if she is nominated and made permanent chief."

Paul Hickman, president and CEO of the Arizona Bankers Association, says he, too, came away impressed after he and a group of Arizona bankers and business leaders met with Warren in Washington. A former staffer for Sen. John McCain (R-Ariz.), Hickman says Warren went a long way toward allaying the industry's fears of a consumer bureau run amok that would slap banks with new regulations and bury them in paperwork. "I thought Elizabeth Warren did a really good job of letting the members of that meeting know, and the business people of Arizona know, that her mission was not to somehow suppress community banks," Hickman recalls.

But for some state banking chiefs, Warren's outreach has changed their mind about her but not about the CFPB itself. George Beattie, president and CEO of the Nebraska Bankers Association, told Mother Jones last fall that, in his view, Warren simply didn't understand community banks. Today, he's more positive about Warren, noting her "better appreciation for what banks in this country do for their communities."
What's going is here is that Warren is one power hungry lady, who will do, say or sing anything to get the CFPB power spot. The fact that so many D.C. bankster front men are now praising a Warren nomination, means she has ditched humming her favorite rap song and must assuredly is telling the front men that her real dream in life is to sing Strangers in the Night in duet with Jamie Dimon.

Bottom line, this rap video is history:


  1. Ah, they've come to a corporatist solution where the regulated and regulator cozy up together. Pretty soon they'll be a revolving door between this new government agency and the regulated banks. I am not surprised though, since this is what regressivism is all about -- big business, organized labor and government merging into one and all taking care of each other. I am sure the regressive sheeple will applaud this budding love affair.

  2. Has the ABA made a contribution to her senatorial exploratory fund or some other favorite charity of her choice?

  3. It's not regressivism. It's fascism.
    And we've had a long history of it in this country regardless of the nitwits who only think communism is socialism. It's not. It's only the grade school version. Fascism is the college level version. Which is why it fools people. Not that they don't want to be fooled, but whatever.

  4. so you give 3 examples that controvert your beliefs about Warren, yet still maintain your beliefs, characterizing the anecdotes as "What's going is here is that Warren is one power hungry lady, who will do, say or sing anything to get the CFPB power spot."

    yes Wenzel, you too are not above cognitive dissonance...