Somebody remarked about the earlier post that it was an older story… and we relied, “Yes, we’re aware… but isn’t it nice to re-post and irritate the banks?!” Doesn’t it make this next post even more exciting?
WASHINGTON — Bank regulators and executives typically hope to escape a Senate Banking Committee hearing without becoming the subject of a viral video showing them humiliated at the hands of Sen. Elizabeth Warren (D-Mass.).
On Thursday, however, one witness was pleased enough with Warren’s line of questioning that he actually applauded the Massachusetts Democrat toward the end of her remarks — a highly unusual departure from custom. Continue reading →
“The Fed messed with the wrong senator…” posted David Dayen on Salon. Sen. Elizabeth Warren (D-MA) grilled federal officials about illegal bank foreclosures at a Senate Banking Committee hearing on Thursday. She wanted to know if they would give information to victims of illegal foreclosures–or if they just want to protect the banks. Warren asked, “You now know individual cases where the banks violated the law, and you’re not going to tell the homeowners, or at least it’s not clear yet whether you’re going to do that?” Continue reading →
Massachusetts Senate candidate and former Obama administration official Elizabeth Warren laid into the financial sector for their role in bringing about the recession.
Asked about her position on the Occupy Wall Street protest at last week’s Massachusetts Senate debate, Warren said that people have to follow the law, then immediately launched into an invective against the banks.
The time has come to rattle the cages of our Attorneys General, our Governors, our Congressional Representatives and State Legislators. We need to tell them that we support New York’s Attorney General Schneiderman! The one true Super Hero, Eric T. Schneiderman, AG of the great state of New York understands the vast amount of fraud that is associated with securitization.
Schneiderman is not willing to fall in the Obama line dance and allow the banks to get off nearly scot-free for ALL of the wrongs, frauds, abuses and Ponzi scheming that they’ve done. The fearless leader has been outspoken because he knows, just like his predecessor, Elliot Spritzer, that these banks have committed crimes that surpass any “get out of jail” free pardons the failed Obama administration might be willing to give. Continue reading →
When women continually walk out of your life it says a lot about your personality. In business it says a lot about the operation of the company. In the Obama administration good women have been bolting since the beginning of his term and a common theme seems to surface:
Ellen Moran, Communications Director. Ms Moran lasted less than three months in the Obama administration, announcing her sudden departure in April 2009. Some commentators speculated that Ms Moran had had a difficult time breaking into Mr Obama’s tight-knit circle of close advisers – most of whom had worked with the president for many years – making it hard for her to carry out her role.
Obama picks former Ohio AG Cordray to lead consumer agency; GOP set to oppose. Reigniting a partisan fight over banking regulations, President Barack Obama intends to nominate former Ohio Attorney General Richard Cordray to lead a consumer protection bureau that was a central feature of a law overhauling the rules that govern the financial sector.
Obama plans to announce the nomination formally on Monday, the White House said Sunday. Republicans immediately threatened to block Cordray’s Senate confirmation.
In choosing Cordray, Obama bypassed Elizabeth Warren, a favorite of consumer groups, who has been assembling the agency as a special adviser to the White House and to Treasury Secretary Timothy Geithner. [MORE]
Ten months ago a brilliant group of creative individuals realized that the role Elizabeth Warren was meant to handle would be directly opposed to “Wall Street’s business as usual.” It’s very unsettling that President Obama is currently in these debt negotiations with Geithner on his shoulder and all of a sudden Elizabeth Warren is ousted from the circle of consideration to head up the Bureau of Consumer Financial Protection. Especially after she came out on Friday and stated that the investigations into the bankster foreclosure fraud was not sufficient.
By Mike Dorning and Carter Dougherty, Bloomberg News
16 July 11
Bloomberg is reporting that President Obama has eliminated Elizabeth Warren as a candidate to head the Consumer Financial Protection Bureau. The story has not been confirmed by the White House. The sources are “persons” and the information at this writing has not been verified. Due to the gravity of the confirmation decision, and our readers’ interest in the story, we have decided to publish the article while we wait for further confirmation. — CW/RSN
resident Barack Obama has chosen a candidate other than Elizabeth Warren as director of the new Consumer Financial Protection Bureau, according to a person briefed on the matter. Continue reading →