Sunday, August 8, 2010

Consumer Watchdog

Nearly ten years ago, I remember watching a Frontline episode about problems with banks, credit card companies, and corrupt corporate leaders. The show interviewed a rather soft-spoken but straightforward Harvard professor who articulated the problems and solutions far more succinctly than I had ever heard. I remember thinking, "Hey, yeah, everyone, and I mean everyone, listen to this woman.

That woman was Elizabeth Warren, the appointed watchdog for TARP funds, and the only logical nominee to lead the new consumer protection wing of the federal government. This issue is well explained in an LA Times profile.

Anyone who doesn't listen to this woman and endorse her for a regulatory role in the federal government is either an idiot, an ideologue blinded by naivete, or an immoral or amoral corporate shill.

5 comments:

steven said...

In other words, Michael, anyone who doesn't agree with you must be either stupid or evil?

mazenko said...

In some cases, Steven, that would be true. Anyone who denies Warren's credibility or the need for such regulation is either naive or foolish. I'd say the same about people who deny the moon landing or, like a candidate in Colorado, believe a bicycle sharing program in downtown Denver is a plan for UN domination of US sovereignty. That's just crazy talk.

steven said...

Well, as you probably know I disagree with you about the need for such regulation, or, for that matter, about the need or justification for any regulation. And I have some pretty sound reasons for doing so. But that doesn't mean that I think you are naive or foolish (or stupid or evil). I just think that you are mistaken.

mazenko said...

Fair enough.

Shelley said...

Elizabeth Warren is the closest thing we have to Teddy Roosevelt (at his best). She deserves to be on the Supreme Court.