“Ivory tower elitist” or “economic David”?
November 3, 2009 | federal legislation, industry | Comments (0)We know where we stand on Elizabeth Warren. From the Boston Globe profile:
Her critique of the lending practices of big banks and mortgage companies is drawing plenty of attention, airing on everything from CNN to “The Daily Show” and Dr. Phil, even winning a cameo in Michael Moore’s latest movie, “Capitalism: A Love Story.”
And she is chief architect of a new government agency to protect consumers from predatory lenders, a central element of President Obama’s efforts to avoid another economic meltdown. That makes her a big target.
“I have dubbed it the ‘Restrict the American Dream and Job Destruction Act,’ ” Representative Tom Price of Georgia, chairman of the Republican Study Committee, a group of 110 GOP House members, said in an interview about Warren’s proposed Consumer Financial Protection Agency. “I have no doubt that as a Northeast elite academic it is difficult for Ms. Warren to appreciate that, but that’s exactly what it will do.”
Another critic, George Mason University law professor Todd Zywicki, said, “Bluntly put, she hates banks.”
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