Monday, October 04, 2010
Elizabeth Warren's prospects at the CFPBI'm trying to see the cup half full, the Obama administration cup, that is. But they don't make it easy for us.
Bmaz in The (Liz) Warren Commission and Financial Reform Emptywheel 10/03/2010 points out that while it's great to have Elizabeth Warren as head of the Consumer Financial Protection Bureau (CFPB), the delay in her nomination related to the definition of the actual scope of the CFPB's authority, which was apparently accomplished without much input from her. And the prospects for her final confirmation are by no means certain.
On the related issue of the evaluation of the TARP financial-rescue program, Bmaz cites Gretchen Morgenson, Count on Sequels to TARP New York Times 10/02/2010.
Economist Simon Johnson gives his evaluation in TARP Is Gone – But May Soon Be Back The Baseline Scenario 09/30/2010, including the recently-adopted financial reform that is one of the Obama administration's signature accomplishments:
[B]y the time the administration put forward its financial reform ideas, the big banks were back on their feet – and ready to throw huge numbers of lobbyists and unlimited cash into the fight to preserve their right to take inordinate risk and to mismanage their way into disaster.Tags: obama administration, us economy
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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