Elizabeth Warren Says The Consumer Protection Agency Wouldn’t Exist Without Obama

Jul 20 2011 Published by under Uncategorized

Elizabeth Warren Champion of Middle Class

Your late night snack is a Rachel Maddow segment from yesterday. Yes, it’s old but it’s a must see. Elizabeth Warren was on, and they discussed the fate of the independent consumer protection agency. She told Rachel, “We would not have a consumer agency if not for President Obama.” Elizabeth went on to explain, “I want to be clear, the reason I cannot run this agency is because of those people (the Republicans).”

Yes, Dorothy, it really is the corporatist Republicans who in deed try to stop every single regulatory agency meant to protect the people from corporate greed. Is this news? Well, it sure ought to be, judging from the desperate false equivalencies being made about Democrats and Republicans both being bought by corporations. Only one party is fighting for regulations for the people, and that party is the Democrats. They are not perfect by any stretch of the imagination, but this is an agency that you would never see even proposed by a modern day Republican president, let alone fought for and protected in order to remain an independent agency.

Here’s the video:

Visit msnbc.com for breaking news, world news, and news about the economy

Transcript courtesy of MSNBC:

RM: In the midst of what’s going on on both the right and on the left, on Sunday, the president announced the new head of the consumer financial protection bureau will not be Elizabeth Warren, frankly better than anybody else about communicating with people about economic issues, instead, Elizabeth Warren’s deputy, a former Ohio general praised today by Elizabeth Warren himself, praised today by his home state who said there’s no question of his qualifications and praised today even by the current attorney general of Ohio, a Republican, the man who beat him in an election last year, said he’d do a good job.

The consumer protection agency officially opens for business on Thursday. Republicans have long said now they’d oppose not only Elizabeth Warren running that agency, but anybody running that agency, because they don’t want that agency to exist. They think consumer protection is some sort of banking scheme and they are with the bankers.

So this is going to be a fight. This is always going to be a fight, but now we know thanks to how far the Republicans are pushing things in Washington right now, now we know this is going to be a fight on a high wire over an abyss. Elizabeth Warren writing today “we got this agency by fighting, we stood it up by fighting, and if it takes more fighting to keep it strong and independence, then we can do it.”

Joining us tonight for the interview is Elizabeth Warren, she’s been serving as an assistant to the president and special advisory to the president, thank you so much for your time.

Hearing you talk about that with such passion, and I know this is what you’ve been doing for all this time, I have to ask you if you wish you had been appointed by the president to be running the agency, and if now you are leaving Washington, heading home to Washington, if you feel you’ve developed a Washington allergy or if you’d like to get back in there?

EW: Let me start with the first part. We would not have a consumer agency if not for President Obama. Two years ago, right about now, he looked out and said the consumer agency, that’s what I want to put in financial regulatory reform. Over the next year while everybody fought back and forth over the regular reform bill, there were a lot of offers on the table to get something else. He consistently said no.

And a year ago right now, this week, he signed into law a bill that made this consumer agency exist and as strong and independent way. Now, since then, what’s happened is there are folks on capitol hill, Republicans in the senate and the house, they voted against the bill to begin with — against the agency to begin with, they’ve introduced bills to try to cut our funding, introduced bills to try to make us less independent, introduced bills so we have a gummed up structure so we can’t get anything done and bills to flat out repeal us.

I want to be clear, the reason I cannot run this agency is because of those people. They’ve made it perfectly clear they will not let the agency go forward if I’m there, fine. I can step away from this. What I care about is this agency. The president has now made his nomination. He’s a good man, Richard Cordray is, and I think it’s time to take the fight straight to the Republicans. We need a director in place, that’s the law, and we are not, not, not going to let the minority come in and dictate the terms of this agency, rip its arms and legs off before it’s able to help a single family.

END transcript

Elizabeth Warren is a shining example of what our public servants should be doing and whose interests they should be serving. She knows who the real enemies of the people are; the corporations and their puppets, the Republican Party. She is also a real champion of the people, whom the Republicans have roundly locked out of the agency she helmed and should be leading, precisely because she is too independent and good at her job. Let’s hope she does run for Senate in Massachusetts and maybe after a few years in the Senate…..oh, I dream.

While Elizabeth Warren points out that we would not even have the consumer protection agency without the hard work of the President, I must caution you against leaving any positive comments about the President. It’s clear that he’s “Just like Bush,” only not. Unless things like caring about unemployment benefits and fighting to protect the people from the unconscionable power of corporations is something Republicans are hiding from us as they try to kill the very idea of a social safety net via their House majority.

Solidarity. Ponder this, people whilst you check out the consumer protection agency brought to you by the Democratic President and his administration, as well as that fearless fighter for the people, Elizabeth Warren. Just another moment when it becomes clear to thinking people that this President is not a Republican and Republicans and Democrats are not the same.

Careful now, you might get wise to the scam.

7 responses so far