More on Elizabeth Warrn from Joe Nocera in the New York Times.
What struck me . . .was the bluntness of her language. She used words like “tricks,” “fleece,” and “bribe” to describe the actions of mortgage and credit card lenders. And I think a lot of her appeal stems from that simple fact: she describes abuses — predatory lending, hidden fees, bewildering “disclosures” that hide more than they disclose — in precisely the way most Americans have experienced them. She conveys a powerful sense that she understands what we’ve been through this last decade.
Her critics have complained that in her quest to avenge the downtrodden consumer, she could endanger the safety and soundness of banks, by writing rules that would strip them of billions in profits. Her essential position is that if taking advantage of borrowers is necessary to save the banks, then there is something deeply wrong with the banking system in America. The American Bankers Association may not agree with that, but that is unquestionably what most Americans believe. And they are right.
Related articles
- Elizabeth Warren leading choice for top U.S. consumer post (theglobeandmail.com)
- 4 Bogus Attacks Bankers and Their Political Puppets Are Using to Attack Elizabeth Warren (alternet.org)
- Elizabeth Warren gets her own rap video (salon.com)
- Mostly Economics: Profile of Elizabeth Warren (mostlyeconomics.wordpress.com)
