Blog Archives

The Congress is going to try and screw us by way of Big Banks… but at least we have Elizabeth Warren.

Jon Stewart did a very nice interview with Elizabeth Warren, the Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau.

Elizabeth Warren

Her concern was that major banks, like Citigroup, and major Wall Street players are trying to “knife” her agency in the back… and that includes support from our Representative here in WV’s District 2, Shelley Moore Capito (R), who is chair of the Financial Institutions and Consumer Credit Subcommittee.

Warren is a very smart and intelligent woman with an agency that has very little actual power… therefore, her major strength lies in making people aware of the financial situation which has kept the middle class in financial slavery.

Warren said that the bank lobbyists and their supporters in Congress won’t be able to “knife the agency in the back alley” if they “actually believe people will pay attention, if they believe people care about this.”

To which Jon Stewart replied:

“or if they still have the capacity to feel shame — you begin to wonder at times.”

There is going to be a vote in the House Financial Services Committee next week which will delay the opening of Warren’s Agency, or, at the very least, will weaken its activities. A great many people got into the fight in public last year to set up the agency Warren will head. This year, however, the attacks against this agency are happening in secret.

Warren brought up one of her major interests, the devastating agreements that banks attach to consumer credit cards:

“There was a survey last year. Ninety-six percent of Americans said — I want to get rid of the fine print in credit card agreements and mortgages. I think it is there just to cheat me, to hide things from me. Ninety-one percent felt strongly about it. When that is the case, that’s not Democrats, that’s not Republicans, that’s not Libertarians. This is not partisan. It’s basic and sensible. This game is about trying to push the sensible part right back in the middle and say that’s what we have a responsibility to do.”

“This consumer agency is a tangible, very concrete down payment on the notion that together we can build something that is fairer, and give middle class families a chance to survive, maybe even prosper.”

Elizabeth Warren   

Even if you saw Warren on the Daily Show Tuesday night, this is one of those interviews where Stewart kept it going past the show’s end. You can see the whole interview at http://www.thedailyshow.com/full-episodes/tue-april-26-2011-elizabeth-warren . Thanks to Morgan County USA for the basic information on Capito.