I do like this renewed spark in Obama. He got downright feisty on that devastating new Supreme Court opinion decimating campaign finance reform. He claims to finally listening to Volcker again, like he represented during the campaign. Volcker’s moving back out of political Siberia… I do not even care if Obama’s sparkiness is primarily in response to the bitch slap in Massachusetts. I just want somebody to do something smart and effective. May I be so bold as to suggest that someone do something we elected them to do, without watering it down for the kleptocracy…try that on for a refreshing change.
As middle class superhero Elizabeth Warren put it, “I feel better than I’ve felt in a long time. Because what I’ve heard the president saying on the Consumer Financial Protection Agency is, ‘It’s not going down. I’m here, I’m not giving up on it. There is not going to be a compromise to cave in on it.’ I heard him say that we’re going to tax those large financial institutions, and we’re going to make them pay back all of the money under TARP. And then today, I heard him say we’re gonna break apart too-big-to-fail. And we’re going to have an answer, so that every financial institution, if it makes big enough mistakes, if it takes big enough risks and loses, every one of them, can in the end, die…. And what I hear in that is that… the financial institutions have pushed him hard… [Obama] is pushing right back.” And what I hear in that is that… the financial institutions have pushed him hard… [Obama] is pushing right back.”
Just for fun, here’s some vintage Elizabeth Warren making crazy sense way back in 2007 before our economy went all to hell in a handbasket. Actually, of course, she’s been writing about the fragility of the middle class and predatory credit for several years further back than 2007 but this piece talks about the mortgage problems that exploded.