I clicked on this link to read about Liz Warren’s latest populist screed, and a Geico commercial featuring a pig named Maxwell started playing. Not kidding.
Of course, when you think about it…
It must be Maxwell’s high cheekbones.
Senator Elizabeth Warren says she picked up a lot of her feistiness from reading Nancy Drew novels as a kid. Today she believes the most important mystery to solve is how to get the American economy working for someone other than billionaires.
It’s a message she’s been taking all over the country, and she isn’t afraid to call banks, credit card companies and some employers cheats and tricksters.
“The biggest financial institutions figured out they could make a lot of money by cheating people on mortgages, credit cards and payday loans,” she told a packed auditorium at the Graduate Center of the City University of New York, where she spoke alongside New York Times columnist Paul Krugman. [I bet that duo sold more tickets than did Simon and Garfunkel's Central Park reunion. Ed.]
The Democrat from Massachusetts even said the market is broken in many regards.
Actually, Lieawatha, they make more money on regular mortgages, credit cards, and loans. Especially when you figure in the enormous fines incurred by the “bad apple” financial institutions. The “market” sounds like it’s working fine.
But let’s [yawn] hear her out:
Warren was the driving force behind the creation of the Consumer Financial Protection Bureau after the 2008 financial crisis. The agency has returned billions of dollars to Americans who were wronged.
“Traffic works better with traffic lights,” she explained.
The Washington Times, citing congressional investigators, internal documents, and interviews with employees, reports that workers at the Consumer Financial Protection Bureau (CFPB) filed 115 official grievances through the National Treasury Employees Union (NTEU) in 2013 alone.
Among the complaints are that managers retaliated against employees for comments or questions that they didn’t like by denying vacation time, refusing internal requests for promotion, and hiring unqualified acquaintances who would have to be trained by employees in lower positions.
“Certain managers have adopted an authoritarian, untouchable, unaccountable and unanswerable management style,” CFPB enforcement attorney Angela Martin told Congress earlier this year.
More seriously, according to the Times, Martin’s testimony alleged the existence of an entire department at the CFPB nicknamed “The Plantation” that is staffed almost entirely of black workers supervised by white managers with no obvious promotional track.
“There is an entire section in Consumer Response Intake that is 100 percent African-American, even the contractors, and it is called ‘The Plantation,'” Martin said. “And people tell me it’s very hard to leave The Plantation. You must be extremely savvy, or you must [have] somebody else [help you] to get out.
Not even the traffic cops in Ferguson, MO talk this way!
And this only makes our case better than we could ourselves: “A government big enough to give you everything you want is a government big enough to take away everything that you have.”