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Obama's New Consumer Watchdog

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Obama's New Consumer Watchdog - by Stephen Lendman

On September 17, New York Times writers Jackie Calmes and Sewell Chan headlined, "Obama Picks Warren to Set Up Consumer Bureau," saying:

Obama appointed Harvard Law Professor Elizabeth Warren "to oversee" the new Bureau of Consumer Financial Protection (BCFP) "until a director is named later. The appointment (will let her) get the agency up and running without having to go through a contentious (Senate) confirmation battle," one she might lose because of Republican and industry opposition.

She'll be an assistant to the president, a "czar" for some, a designation held by numerous other White House advisors. She'll also be a Treasury Secretary advisor, reporting jointly to Obama and Tim Geithner.

Who Is Elizabeth Warren?

A bio on the elizabethwarren.com web site includes the following:

At age 16, she was an Oklahoma state champion debater.

Her education includes a BS from the University of Houston (1970) and a JD from Rutgers Law School (1976) where she was Editor to the Rutgers Law Review.

She taught law at Rutgers, the University of Michigan, the University of Houston Law Center, the University of Texas School of Law, and University of Pennsylvania's School of Law before joining Harvard Law School in 1992, where she's now Leo Gottlieb Professor of Law.

She's also a member of the FDIC's Committee on Economic Inclusion, the Executive Council of the National Bankruptcy Conference, as well as former Vice-President of the American Law Institute, a member of the American Academy of Arts and Sciences, and Chief Adviser to the National Bankruptcy Review Commission.

In addition, until her new appointment, she headed the Congressional Oversight Panel administering the $700 billion Troubled Asset Relief Program (TARP) for banks, but couldn't constrain their multi-trillion dollar bailout, interest-free money, and virtual regulatory freedom.

Her writings include over 100 scholarly articles, six academic books, and several best-selling ones. Co-authored with her daughter, Amelia Warren Tyagi, her most recent one is "All Your Worth: The Ultimate Lifetime Money Plan." An earlier 2003 one with her daughter is titled, "The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke," written years before the current economic crisis. It's devastating many more of them, their numbers steadily increasing because of financial predators Warren will have little power restraining. That's the problem.

Obama's so-called financial reform gives Wall Street a free pass. Described as the most sweeping package since the 1930s, it's, in fact, virtually toothless, an earlier article calling it "a stealth scheme for global monetary control," can be accessed through the following link:

click here

A follow-up one explained more, accessed though the link below:

click here

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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