For those of you unfamiliar with the term “airlock”, it’s corporate lackey speak for what management does to an inconvenient subordinate. They need to make a change and there’s a person they have to get rid of but can’t, or not quite yet. The person is in the way. So, he or she is given a job in a remote office with a special title, like Vice President of the Office of Competitive Research Analysis or something. The office has no power, no budget to speak of and the person in charge rarely gets an invitation to any important meetings. He or she just sits in the office, sharpening pencils, surfing the web and waiting for the airlock to open on the other side.
In Elizabeth Warren’s case, she will be “Assistant to the President & Special Adviser to the Secretary of the Treasury on the Consumer Financial Protection Bureau”.
Jake Tapper has all of the details:
President Obama will announce this week that Elizabeth Warren, the Harvard Law School professor who first proposed the Consumer Financial Protection Bureau, will be named to a special position reporting to both him and to the Treasury Department and tasked with heading the effort to get the new federal agency standing, a knowledgeable Democrat told ABC News.
Warren’s title will be Assistant to the President & Special Adviser to the Secretary of the Treasury on the Consumer Financial Protection Bureau.
Warren currently chairs the Congressional Oversight Panel of the Troubled Assets Relief Program and has been seen by many on the Left as a force for greater accountability and transparency, and a check against the forces in the Obama administration more closely allied with the financial sector. Many officials in that sector eye her warily as too anti-business.
At his press conference Friday, President Obama noted that “the idea for this agency was Elizabeth Warren’s,” a reference to an essay she wrote in 2007 in Democracy: A Journal of Ideas in which she proposed a “Financial Product Safety Commission.”
Isn’t that charming? She wrote “an essay”. Can’t you just see it?
President Obama: Lizzy, I was soooo impressed with your essay.
Warren: Thank You Mr. President. As I hope I’ve made clear, the middle class has been declining in discretionary income over the past 40 years due to a number of factors including deregulation of the financial industry. If you turn to page 12, you will find a graph…
President Obama: Ha-Ha-Ha! That’s fine, Lizzy. Know what I’m going to do? I’m going to make you my Extra Special Assistant at the agency that you imagined in your essay. How does that sound, Lizzy?
<crickets>
It sounds stupid.
As do the excuses that are made for not appointing her and going through the confirmation process. ”Ohhh, woe is me. My nominees are all stuck in committee. Those nasty, wasty Congresspeople are so meeeeeeean.”
Look, here’s the bottom line: If she goes through the confirmation process, that means the office would have power. If she doesn’t, that means it has NO power.
What do you take us for? Utter morons?
So what if the banking industry piles on? The public hates, Hates, HATES the banks. If you do something they don’t like, that makes you golden. So, if you do not choose to take them on, what should we conclude?
That’s right. Democrats are cowardly @#$#$@ of @#$@%@. And when we go to the polls in November, what should we do?
Vote for Greens, socialists, independents. Anyone but right wing nutcases and Democrats.
Consider it an airlock.
Filed under: General Tagged: | airlock, Barack Obama, Consumer Financial Protection Agency, cowards, Elizabeth Warren
Great rant!
They’ll call her the “interim director,” cuz ole Chris Dodd has told The One she’ll have confirmation problems. What ole Chris Dodd means is the banks will pressure our political leadership to frown on her confirmation.
Reward for Dodd after he leaves: lobbyist position, high connections within K Street.
They still think we’re all too stupid to know better.
Asshats.
You see, now democrats have 59 seats in the senate, and have no excuses for not confirming her. Even if she has to get confirmed later to head the agency, it’s much easier to NOT confirm her then, and pretend it’s the fault of bad republicans.
That seems to be the plan.
Aren’t we supposed to apologize for everything negative we ever said about Obama and be singing hosannas because he gave Warren a job?
It’s the same-ole halfway bullsh*t he always does, to try and please both sides. And the dippy Obots will swoop in to praise his gloriousness. Ugh.
Are we sure Obama’s not a eunuch?
Apparently, I neglected to forward you the memo. You weren’t on the email list. Sorry about that.
What’s your title again?
“Petulant Clown”
Mine is assistant to the assistant of the secretary in charge of keeping the ducks in a pond. It was a promotion after I made some complaints about upper management. Could you send that memo again, I didn’t seem to get it.
If you just go to Obama’s website, he explains it all for you. /snark
LOL
Ruh-roh, trouble in paradise:
Yea, all those vacations and photo ops in the WH garden must be sheer hell. I guess that Stepford Wife costume is a little tight huh Michelle?
That falls under “Be careful what you wish for.”
honk, honk!
Wasn’t she the one who said, “if you can’t run your own house, you can’t run the White House”?
And Elizabeth Edwards claimed that she were happier than Hillary because of the choices she made?
Karma is not a b*$vh, she is a PUMA.
I’m waiting:
Honey, until you’ve had to testify in a hearing as to the whereabouts of a box of billing receipts you misplaced when you moved, you don’t know what Hell is.
Unless your best friend commits suicide right after you move to a village full of the meanest neighbors on earth.
I think Michelle has had it easy. Shes a stay at home mom to two kids who don’t really need a stay at home mom anymore and she’s got her mom doing half of the heavy lifting.
What exactly is her problem?
She’s finding out what happens when Lady Macbeth marries Cassius.
Ding ding!
AND you get accused of murdering him.
What exactly is her problem?
******************
She is married to a sociopath?? I think she will split after 2012.
Well, this is what Daou tweeted:
Ann Althouse:
Did she get a lot of bad press? Maybe I’ve just forgotten. I thought she was fluffed by the MSM just as much as her husband was.
Not that I have any strong feelings about her either way. Based on what little we have seen of her, my impression has been that she really doesn’t like being involved in politics at all. If only her husband had felt the same way.
Hillary still holds the record.
Indeed. Someone would have to be daily slammed for nearly 20 years to come close. I think Hill’s record is safe…who else could endure..no , THRIVE , while undergoing that?
I’m gonna disagree. She is in the limelight, and she’s allowed them to redo who she is in the form of Jackie O. That’s wasn’t very smart, because she is not Jackie.
In my opinion, it was Obama the black man who was installed to give the black (as well as white )population the image of success. They reversed the black woman’s role, which has been historically much stronger in the black community.
She knows her politics, but is forced to set that aside
for the image they want to create for the White House.
Just look at her, there she was out in the garden
all dressed in black, and very nice shoes. She didn’t know jack about gardening, and neither does Obama.
It was Obama the grant bandit from Chicago that took
thousands that was suppose to go to community garden there and never a seed a planted.
The first time I was introduced to the Obamas – way before I had any idea about who they were – was on an Oprah show. My immediate reaction was: No doubt she’s the smarter one! So why on earth isn’t she the one running!
Who thinks she’s a fashion icon (from the article)?
I think her clothes, mostly, are ugly.
And I’m waaaaay too Scots-Irish to spend $500 on a pair of tennis shoes. And waaaay too smart to ever wear those shoes to a Food Pantry serving the homeless Thanksgiving dinner.
Good grief.
Betsy’s Page:
I plan to do my part to hell MO escape Hell in 2012
I plan to join you in helping MO escape. Couldn’t be soon enough.
BTW – BO has to travel – on a private plane that gets priority clearance and can get him anyplace he wants ASAP and back again. I remember when I had to travel for my job and it took three days away from my family just to go to Denver and back to NY for one lousy meeting. Poor fool!
He also gets a helicopter that picks him up at his house and flies him to the airport, and a caravan of limos with police escorts whenever he travels by car.
His family gets to travel with him for free.
*rolls eyes* Yeah, SHE and Barack. Because everybody’s involved in decision-making when Barack’s around. He’s sure not a narcissist who’d make life hell for anyone who wouldn’t give him what he wanted. He’s not passive-aggressive. He’s not like Mitt Romney who doesn’t care about his wife to an extent that he made her suffer in a cold climate that’s bad for her MS for his political ambitions. Besides, FLOTUS is such an amazing gig, who wouldn’t want it (darn you for being unnatural anyway, Judy Steinberg-Dean!), so she must be Lady Macbeth, just like that Hillary. If she weren’t a willing equal partner in all this, why she would have just called a press conference and endorsed another candidate! Of course! Every FLOTUS since day one has been a willing and equal partner and therefore deserving of being used as the vessel into which runoff from everyone who attacks her because they hate her husband pours.
Wow. I should live in such “hell.”
I’m about to declare bankruptcy.
(((Branjor)))
Oh, so sorry Branjor.
!
(((Branjor)))
BTW you’re not in the Seattle area? An old friend of my husband’s is a good bankruptcy attorney. Unfortunately it’s really a growth industry lately.
((((branjor))))))
I’m so sorry!!!
{{Branjor}}
Check your e-mail.
Women get screwed in this country. And normally I have empathy for them, especially when it’s as pronounced as a smart driven woman being relegated to the nothingness they’ve boxed Michelle into. But during the primaries she not only let them pound Hillary in a misogynistic way but I suspect she encouraged it, and I’ve also suspected she was a driving force behind discrediting the Clintons as racist among African Americans who’d been Clinton supporters.
And, finally, after this, I’m not sorry her life as first lady is hell:
I see it as just desserts.
She should quit
That would be interesting.
Imagine if she told Barack “To hell with this place, I’m taking the kids and moving back to Chicago. I’ll be waiting for you when you leave office.”
He’d probably look up for a second, and then say, OK. And then later ask some assistant, who were those people again?
Oh, that’s perfect.
But at least she is now proud of her country. I imagine that must be some consolation.
CNN:
If they’re denying it then it must be true.
The authors of the book are standing by their claims.
Carla didn’t write it?
nope, it wasn’t written by carla
And it was published in a book! The written word. We all know from Obama’s book that if it’s bound in paper, then it’s all true.
It’s Bizarro World out there.
Obviously they do take us for morons. After all, ‘the one’ was elected. This admin. is so used to manipulating people that it can’t imagine it not working.
In the Air Force (my husband, ret.), instead of air locke people were just sent to Minot, North Dakota for an extended tour or possible Iceland.
In Rising Sun they mention a Japanese business practice. When some executive screws up they don’t get fired, they get a sinecure with no power – just an office.
OK. I’m all in. After lurking for almost two years I’m one of you now. This man is tone deaf, spineless, and suffering from the ill effects of an expensive education.
I had hoped serving under this Commander In Chief would give me the pride I could never have under the last.
I’ve said before I was never truly sold on either Democratic candidate. I just wanted whoever won to be an unapologetic and (mostly) fearless Democrat, as FDR was.
This cringing fool is a disgrace.
Welcome to the Confluence, where people knew Obama was a fraud before it was cool.
welcome to the exile.
One year, three hundred and thirty-five days until I am no longer in his chain of command.
Thanks for the welcome, although I confess I think they are ALL frauds at that level. I think the highest level nationally at which authenticity is not rare is the House. Who’s the real thing in the Senate? Sanders? Brown? Feingold?
Three.
F**king pathetic.
They all fold when it’s in their best interest as we saw with health care, all ready to lick their masters’ boots.
Your task now is to bring over no less than 50 people that used to believe that Obumbles was about anything more than paying back his puppeteers and stroking his ego…
But, fachero, doesn’t it warm your heart to know that if you get shot while on patrol in Iraq you will be listed as an “advisor” rather than a “combat troop”? That’s, like, totally different!
Not to make light, and thank you for your service, but geez, I know a lot of those who voted for Obama actually thought they’d be getting something other than “more of the same, but with fancy new re-branded messaging and a cool logo!”
Welcome to TC. We don’t do “i told you so’s” to people who are genuine and sincere.
fachero –
Thanks for your service! Welcome to the discussion. So eager to hear more of your comments.
“What do you take us for? Utter morons?”
That’s rhetorical, right? We already know the answer.
In my experience in academia, mainly men got this treatment – alternative job. And then there was the excellent severance pay in order to get rid of the incompetent. Again I only saw men receiving these sweet deals. I know we’ll have achieved equality when women get the $ for being lousy at their jobs.
At first they tried to muscle Shirley Sherrod out. then she refused the consolation job.
It’s the Penis Principle
Yes! When it becomes fine for a woman to be as inept as the next guy… well, we will have reached equality.
Trouble is, Warren’s not getting it for being inept. She is all too “ept”.
Right, so is Shirley Sherrod. And that is the point of RD’s “airlock” message. Inconvenient to the management.
I just added the severance pay option for the inept as another example of discrimination.
I like Breyer, but that’s insane. I’d like to keep what few rights I have left. Sigh,
I agree. His reasoning here is VERY flawed. He’s saying that the “fire” example of public safety applies, because if you burn a Koran then outraged Muslims might get violent. And he’s not talking about inciting a riot in a crowd that’s right there, he’s talking about secondary and tertiary responses.
Really? So that’s to be the standard now? Free speech is curtailed if some group is liable to get violently pissed off? Hmmm, what could possibly go wrong with that, hypothetically? Gee, how long ’til other groups catch on to this game and start burning storefronts if you profane what’s sacred to them. After all, if it works for the radical Muslims….
Breyer must not have thought this through. It’s a BAD road to go down.
Yep. Extremely flawed and surprisingly lazy thinking. Kind of stunning really.
It was a bad road to go down in Schenck v. United States, the SCOTUS decision where the phrase was coined. The decision upheld the Espionage Act of 1917. Charles Schenck’s act, as Secretary of the Socialist Party, was to arrange to print and distribute leaflets urging young men to resist the WW I draft nonviolently. Schenck spent six months in prison as a result.
Welcome to the land of the free.
I read this deal with Warren last night and just groaned. This is like throwing poisoned treats to the peanut gallery, so they’ll shut up already.
What surprises me is Warren agreeing to a job where she’ll be sidelined. The woman doesn’t strike me as the shrinking violet type. I have to believe that she feels being close to the inner works is better than being shut out altogether. I can’t imagine Warren keeping her mouth shut if she sees hinky arrangements or corners being shaved.
Dodd’s comments and excuses regarding Warren are beyond offensive. He’s obviously protecting his friends, the ones he’ll be representing next year. And I think that’s what POTUS is doing–protecting his benefactors, the very people who brung him to the ball.
It just goes on and on.
Let me play wishful thinking amateur psychologist for a moment.
We know she’s smart, hence she must know this is an attempt to sideline her.
Maybe she’s planning on raising hell and boxing President Back Down into a corner.
If she attempts to do something substantial he’s forced to choose between the one protecting consumers and the banks everyone hates. His spinelessness might actually benefit people then. He might be too chicken to fire her.
As I said, wishful thinking. But at this point that’s all I have left.
I really hope you’re right. And yes, wishful thinking is about the only thread we have left.
OT again:
31 Democrats have now joined the Republicans in calling for ALL the Bush tax cuts to be extended for a year or two. THIRTY ONE.
He ain’t got the votes.
And btw, BTD: they’re not “Obama tax cuts.”
No one gets a tax cut; they just stay the same by not being raised. (Shaking head at BTD’s attempted hustle)
Standard Operating Procedure for BTD.
Yup. HE thinks we’re stupid, too. Ugh.
That makes 31 Democrats IDIOTS.
In the case of these tax cuts Barack Obama is right.
Well, ok. I wasn’t saying yeah or nay.
But 31 of his own Dems have bucked Pelosi’s pressure and come out publicly.
The One doesn’t have the votes. Remember that, while he’s playing class warfare the next few weeks.
That actually will play in his favor if he calls for the vote.
the majority in this country recognize that the CEOs of Coca Cola or HP don’t need a tax cat on their million dollar paycheck.
Furthermore the GOP is going to look completely absurd when they say grandma and grandpa need to take a paycut on their Social Security payout to balance the budget after extending the taxcuts to the wealthiest despite deficits.
As for Democrats bucking- not a shocker, these are probably the same ones who want to codify the conscience clause.
On the other hand, he could veto in a grand ceremony defending all the “little people,” and let ALL the tax cuts expire, including yours.
I can see Obama doing that, for his own personal glory.
What makes you think he gives a sh*t about you?
What I don’t get about the Elizabeth Warren thing is why she’d accept the position.
It probably means she sees an angle.
I know Warren doesn’t like Geithner or Summers much. Has she ever given anyone any impression on how she feels about Barack Obama.
I’m trying to figure out if he’s playing her like he’s played Krugman or if she’s playing him and planning on ensuring the budget to the office doesn’t get cut or it doesn’t get manned with incompetents or she screams
to high heaven.
Yes and she’ll apparently (presumably) have a say in who’s chosen for the job that she should have. And that’s good if it happens, better than nothing.
I guess what I’m really saying is it looks to me like Obama’s playing her and she fell into his trap, that she’ll not only be powerless but also censored into saying only what benefits ObamaCo. But I have enormous respect for her and hope she has a plan and it works.
It’s entirely possible he’s playing the “wide eyed ingenue with a good heart and tied hands.” He seems to be an expert at manipulating people into thinking it’s not his fault and that he’s just a victim of circumstances. I’d argue he’s even better than Bush at playing the victim.
I agree he’s better than Bush at playing the victim, more sophisticated, and his act amps it up to Superior Victim: he’s superior to his opponents but if he fails in any way it’s because his opponents victimized him.
Not everybody agrees with RD. From the comments at Buffoon Juice:
and
Yep, we need a MAN to run that office.
Aren’t Goolsbee, Geithner and Summers academics as well?
Perhaps they should have a babysitter too.
I mean Geithner and Summers have more than proven THEY can’t handle the banking industry.
Toldja. All the goofy-ass Obots swarm out to defend his chicken-shittery.
Woo-hoo!
Chicken-shittery? Great word.
http://www.grouchyoldcripple.com/archives/chickenshit.jpg
Here’s that from another angle:
http://assets.nydailynews.com/img/2010/09/17/alg_obama_biden.jpg
This is without a doubt the most bogus era in American politics ever.
Honk!
Honk! Honk!
Looks at videos regarding feminism circa 2010.
http://vbonnaire.wordpress.com/2010/09/16/feminism-2010-in-american-politics/
Serious stuff.
I’m waiting to see how this plays out to put it into the pro or con column.
Frankly it’s yawn worthy news since even if he gave her the title I wasn’t sure she’d have the means to be effective.
“Vote for Greens, socialists, independents. Anyone but right wing nutcases and Democrats.”
How about NOTA….that’s what I plan to write in..
It doesn’t make a difference if the vote is thrown in one trash can vs the other, imo. November 2010 my opportunity to vote against a 2008 superdelegate. I don’t like Fiorina, but she’s not as bad as O, and lots of people voted for him.
But voting “None of the Above” actually says something versus voting for a candidate and hoping that a message will be heard from that vote – or that the message will even be understood.
I think they’ll hear my R vote much better.
Dario, I live in Fl, and they won’t hear my R vote because they are crazy.
Sorry, but I just can’t resist:
Tnx. Perfect video for the occasion.
Warren must accepted the deal. It’s not likely that O would offer that meaningless job without having talked it over with her. She had all the card because we were clamoring for her. Why did she go for less than she deserved?
In thinking more about Michelle being pushed into to “house wife role”, perhaps she is pissed because she was really the Chicago Pol that made Obama. She is smart, her father was lower mid-management in the Daley org.; she grew up watching how “it” worked in Chicago.
After watching Barack for almost two years in office; he feels entitled, he is lazy, he is incompetent and everything is planned and scripted for him. I now think that it was Michelle that made the intros for Barry, told him how to do “pay to play”, made the Rezko House deal, etc. etc.
You betcha. She’s tired of carrying him and watching him destroy her designs.
Good point. What might be “hell” is watching her clusterf&*ck husband bumble around, and not even care.
Also playing the housewife roll, to say nothing of being married to mr. don’t give a fuck, probably will hurt any future political ambitions she might have.
After watching First Lady Hillary Clinton be so very successful, Michelle might have thought: “That’s easy. I can do that”.
I now think that it was Michelle that made the intros for Barry
Me too. Like the story about how she once brought him with her to a job interview. Supposedly as she needed his approval. I was always convinced that it was for her to introduce him to her boss.
Yes. That boss she introduced him to, was Valerie Jarrett.
Thanks Mary!
Yes, that’s how I remembered it. Couldn’t find any links to confirm it though, so I left it out.
I haven’t decided how I ‘m going to vote, if at all.
As things are now I will probably vote straight R in hopes of crashing the system to the point where a third party becomes viable. We are not there yet
.
Since Obama’s agenda is corporatist, Regan Republican anything thing he tries to get through congress is going to be anti middle class. If enough loons get elected to the House and they start impeachment proceedings it will gum up the works and nothing will get passed. No government is better than what we have had these past 10 years.
I’m not sure that no government is better than what we have, but it may be necessary to make the system crash.
I think the elite are insisting on it…they offer no other recourse.
I think that’s exactly what Obama wants. I think he wants Republicans to win in 2010 so he can blame everything on them when he’s campaigning for Obama 2012.
But then I think stop overthinking because trying to out-smart a sociopath is a fool’s errand.
I think it’s foolhardy to want the system to crash, but I’m a fool.
I think you’re not remotely a fool, and I think sometimes it’s better to just jump back and let the crash happen. I agree with you.
But more than that I think it’s now inevitable. Our opportunity to fix it and set off in a healthy direction has passed. Obama, the disgusting arrogant cowardly media, and millions of spoiled entitled asshat Americans have made this final sprint happen and, in my opinion, there’s no turning back.
I think I am at the “Fuck it, just reboot” point myself. The system is frozen, and neither program, R or D, is responding at all.
You’re not a fool.
I want to see all the delegates and superdelegates who ignored their own constituents voting for Hillary, who voted for Obama instead, go down in FLAMES.
We’ll never rebuild the party we knew until they do.
HAHAHAHAHAHA!
Great post!
Dumbest Political Move of 2010:
Indeed it’s a dumb political move, ridiculous …but the upper crust ( BO’s puppet master) is in a post political mode now . They do what they want because it doesn’t matter who is in office. To those working the puppet strings, barring Warren from any real role, FAR out weights the fortunes of either political party and who’s in office. It’s immaterial. So the UC won’t be stopped, because either “party” will gladly do their bidding, indeed, they will savage each other for the privilege.
I have a question. Has Dr. Warren ACCEPTED the position yet? Who DID Obumbles nominate to head the agency?
Warren must have accepted.
Isn’t it sad how the people that can help and WANT to help are forced to do so with one hand tied behind their back? Circa Hillary as SOS instead of Prez, Dr. Warren as whatever goofy title she has instead of Treasury Sec.?
Asshats.
Hillary 2012
Why do women do this? I hated it when Hillary accepted the SOS position, I cringed when even Jon Stewart was making fun of her calling it a huge step down. I know most of you here supported her for it and saw it as her serving her country but it was just gave the Obots another reason to attack her with sexism not that they need a reason. A man serving his country is something great, Hillary serving her country was a step down and Obama was so kind to even give her that job (according to the Obots).
So now back to Warren, why oh why did she take this job? Surely she must know she is being played. A man would be too proud to be played like that.
It is always women who are treated like this.
I absolutely loved it when Hillary accepted SoS (it was bittersweet) and don’t blame Warren for taking this position. They are women trying to make in-roads. It’s not their fault O is a small man who casts a large shadow only in the imagination of his groupies.
But what options did she have, really? She could have stayed in the Senate and marginalized and treated like dirt. I wasn’t too thrilled to see her take a job where she’d be under Obama’s thumb and thrust into the scapegoat role, but she’s handled it well. They’re both public servants and they want to help. And the Obots were PISSED and fronting, they wanted her at HHS for god’s sake. Lol
Been marginalized, I meant. Lurch was pissed, everyone was pissed. It was a triumphant moment 100%. I’m sure O’s motives were nefarious and he was planning how he was going to humiliate her as he was appointing her, but whoops, extreme miscalculation there, so it’s all good.
no actual Director yet and announcement is coming in the press so she must’ve accepted it …
Take a big breath, the Titanic is sinking
So this is why the smaller community banks are being funneled $30 billion?
Dodd is playing along with the Warren Bunraku:
Read more: http://www.politico.com/news/stories/0910/42278.html#ixzz0zibaMcMK
Bat Shit Crazy Senator Judd Greg (R-NH) on Warren:
Prime example of someone in leadership completely out of touch with reality, completely ideological in terms of party (anything ‘D’ is bad, anything ‘R’ is good), or just too lazy to read her policy positions.
Asshat.
yeah, and not regulating the credit process/system worked so well didn’t it?
Her meaning Dr. Warren.
This is what any democrat should have expected the response of R’s would be and the reason he should have recess appointed her or put her in nomination. WEAK, WEAK, WEAK. Democrats, the party of ” Chicken Shittery”, quote and HT, Mary.
My guess is that O is busy telling the bankers not to worry. Warren is under the Tim’s control and she’s been airlocked.
dankinikat, didn’t you love the “no social justice” part in a so called consumer protection agency? That Judd Greg, what a guy.
absolutely off the wall comment
If all he was saying is that we don’t want credit cards issued willy nilly to those who cannot meet the credit standards (as they did with home loans), then I actually would agree. Giving everyone a loan because everyone “ought” to have a loan, because that’s somehow “just”, is insanity. No, banks should not be forced or even encouraged to loan money to people who can’t pay it back. You don’t do either the banking system or those people any favors by doing that, no matter how well-intended. I’m a big proponent of sound underwriting and larger down payment requirements. I make no apology for that. Deceptively easy credit is one way the PTB fooled the public into not seeing that their wages were trending to CRAP, because after all, they could still afford a home! No, they actually couldn’t afford a home – not the 20% down, stable interest rate loans that their grandfather had. But smoke and mirrors made them think otherwise.
BUT I totally disagree with his assumption that this is what Warren would do. Where the heck does he get that idea? She’s about sensible regulation that keeps banks from gouging on interest rates/fees, and using deceptive marketing. I’ve seen no indication that she’s in the “let’s ignore underwriting reality and just distribute loans to all and sundry” camp. As a matter of fact, she’s pointed out that that sort of thing is actually abusive of the poor, who may think “Well, if I couldn’t afford it they wouldn’t have loaned it, right?”
I guess my main beef is that I sometimes see talk about how we can get the greedy banks to loan more money to financially depressed businesses and individuals (who likely are a poor credit risk, in truth.)
Im my mind, that is a completely insane and backwards approach to the problem. How about we get some JOBS with decent WAGES in this country again, so that credit is once again a prudent undertaking that most can afford with normal, sound underwriting standards??? Why the hell don’t we talk about it in THOSE terms??
Because Republicans oppose THAT too.
ANY attempt to regulate the market is met with ………you’re destroying businesses chance at investment capital or ruining their profitability. Whether it be trade regulation or wage requirements or any other form of market control.
I don’t think that’s what Gregg meant with the no social justice comment.
So, if this is true (about the long titles) does that mean that Ben Rhodes isn’t actually writing any of Obama’s speeches? His title is Deputy National Security Advisor for Strategic Communications.
Excellent description, RD.
Isn’t there some old adage about the length of one’s title being inversely proportional to the amount of power one has?
Just reading the entirety of Warren’s new special title makes the reader forget who she is. Another women made irrelevant care of the Obots.