Saturday, September 18, 2010

This Is Good...

For a change, President Obama did something that made the left-wing ideologues -- oh, excuse me, I meant the "progressives" -- quite happy: he named Elizabeth Warren to be the head of a new outfit known as the Bureau of Consumer Financial Protection:

...Sidestepping a Senate confirmation fight — for now — Obama stopped short of nominating Warren to head the new Bureau of Consumer Financial Protection. Instead, his action will let the Harvard Law School professor and expert on bankruptcy to move quickly to shape the bureau.

The appointment will allow Warren, "a janitor's daughter," as Obama called her in a Rose Garden introduction, to recruit staff and initiate policies for regulating mortgages, student loans and other consumer-credit products. She also will have a voice in picking the first director, he said. The favorite among administration officials is Michael Barr, an assistant secretary of Treasury for financial institutions who is an authority on financial regulation and on services for low- and moderate-income households.

The interim role for Warren, 61, averts a political problem for Obama in this election season. Rejecting her would have angered many party liberals. Liberal and consumer groups had lobbied hard for her, along with some lawmakers, including Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee.

Senate Republicans view Warren as too critical of Wall Street and big banks. The business and banking community opposed her as director of the new bureau, contending she would make the agency too aggressive...

Yeah, well, I would hope that that's the whole point of this new endeavor. Two years ago, we had to bail these greedy dickheads out to the tune of $700 billion, just to keep the American economy from collapsing completely. And they didn't appreciate the gesture -- they turned around and gave themselves billions in bonuses.

But if you criticized them for these actions, you were duly informed that you were attacking free enterprise itself. Uh-huh. And pigs are now growing wings, too. Free enterprise my ass -- anything with a $700 billion price tag looks pretty goddamned expensive to me.

Anyway, I hadn't been following this consumer advocacy aspect of politics with any measurable interest until I heard of Obama's announcement, mainly because every time I hear the words "Wall Street," my blood pressure begins to spike and I develop these awful headaches which I never used to get until this year. (I find, however, that listening to King Crimson helps to minimize them. You can tell just by looking over the Medley's current main page that I've had my share of headaches lately.) Thus, I had little idea of who Elizabeth Warren was.

Now that I'm almost up to speed here, I gotta say, I'm totally with the "progressives" when it comes to Warren. Furthermore, I hope this woman gives the Wall Street vipers and their Republican lackeys nightmares, ulcers, and incontinence. Maybe even a seizure or two. Hey, they got the money, right? Then they can afford to be hospitalized if necessary, without having to worry about breaking their own banks. Fuck 'em. There are tens of millions of working-class Americans going through worse every single day because of what these folks have done.

And just to end this post (it is getting kind of long, especially for early Saturday morning), here's a Daily Show clip of some of the things Warren has said, and will continue to say, about this rotten mess we're in. Do watch it. She is on the verge of gaining substantial power to do justice on behalf of working-class Americans, and offhand, I can't think of anybody else I'd rather see have that power. Elizabeth Warren is hitting all of the correct notes.

Also, this is one less thing for the "progressives" to bitch about. Mr. President? It's about damned time you dealt us a break from that...

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