Share on Google Plus Share on Twitter Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 2 (3 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   7 comments

General News

Elizabeth Warren And The Prospects For Real Reform

      (Page 1 of 3 pages)
Related Topic(s): ; ; ; ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

opednews.com Headlined to H2 9/20/10

- Advertisement -


"This sounds so bleak when I say it, but we need some delusions to keep us going."

Woody Allen in the New York Times

"The former chairman of Lazard in London who is now chairman of Barclays, once said that the only two things that would survive a nuclear war were cockroaches and Lazard. On the evidence of the past few years, he underestimated the tenacity of the rest of the investment banking industry."

William Wright. Editor, Financial News, London

WARREN IN OFFICE BUT NOT IN POWER AS BANKSTERS CHEER TEPID RULES ON ANNIVERSARY OF LEHMAN'S FALL

By Danny Schechter. Author, The Crime of Our Time.

Hooray, Elizabeth Warren is to become a Special Assistant to President Obama in charge of setting up the Consumer Protection Bureau that she conceived. Alas, it is not to be the independent agency she wanted but a bureau within the Federal Reserve Bank, a branch of government that is really run by big banks which and did virtually nothing to protect consumers when they needed help the most.

- Advertisement -

For the Obamacrats, this is a good move in political terms because the White House had been battered by the Democratic base to appoint the outspoken Warren to the job, Asked about the issue at his recent press conference, he was his usual coy and cautious self. He said he hadn't decided.

Now he has--but not to appoint her to the job she deserves but to a post in the Executive Branch under his control and with oversight by Tim Geithner, Larry Summers, and Rahm Emanuel et. al. (The White House worries that they could not win a protracted confirmation battle.)

So she's in, but hardly in charge, or able to be an independent force. Remember that quote from the Godfather taken from Chinese military strategist Sun Tsu: "Keep your friends close, and your enemies closer."

The usually on-target blog, Naked Capitalism, suggests that the Warren appointment was just a way to sideline her, not put her in a position of real power. In any event, the new Bureau's rules will not be in effect until 2012, if then. So much for urgency!

What did Warren think? I have known and admired her work for years. I sent her a congratulatory note and asked her if she was happy about the appointment. Her emailed response:

- Advertisement -

"I'm happy. Thanks."

Warren has posted positively about her new job on The White House website and reports having had several meetings with President Obama.

There is even speculation that she may make a run for the Senate from Massachusetts in 2012 challenging Tea Party fave Scott Brown.

Next Page  1  |  2  |  3

 

News Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at Amazon.com. See Newsdisssector.org/store.htm.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon


Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -
Google Content Matches:

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Israel Gives All Jews A Bad Name

Is There A Threat of Fascism in the USA?

Free Marketers Going After Occupy Wall Street --Danny Schechter

COG OR COA: WHY IS OBAMA MORPHING INTO BUSH 2?

WHO OWNS OUR MEDIA AND WHY IT MATTERS

WERE THE BANKS TOO BIG TO FAIL OR THE BANKERS TOO BIG TO JAIL?

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
6 people are discussing this page, with 7 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

I have offered my take. What's yours?... by Danny Schechter on Monday, Sep 20, 2010 at 8:04:44 AM
If she stands up to the Rubin team Obama has super... by Rob Kall on Monday, Sep 20, 2010 at 9:03:01 AM
but she better have a big set and I hope she expos... by Michael Morris on Monday, Sep 20, 2010 at 10:31:29 AM
but she better have a big set and I hope she expos... by Michael Morris on Monday, Sep 20, 2010 at 10:31:59 AM
Does it really matter which side we are on since w... by Marika on Monday, Sep 20, 2010 at 9:32:31 AM
She is being used as bait to lure in the votes.... by Debbie S on Wednesday, Sep 22, 2010 at 3:27:34 PM
Elizabeth Warren is Obama's Brooksley Born. Rubin... by Gary Murphty on Tuesday, Sep 21, 2010 at 7:43:25 AM