Elizabeth Warren

Here is a nice interview with Elizabeth Warren. I really like her. Too bad she was not put in charge of the new Pecora Commission (officially the Financial Crisis Inquiry Commission). Instead they have appointed a politician, Phil Angelides (see here). That would not be my choice. You need an honest person -- impervious to the siren call of money and politics -- willing to call a spade a spade. Angelides is a politician and will please his masters and slide around the hard stuff and come up with a white wash. Sad.

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If you want to see some of the ugly realities behind the financial crisis, here is a good place to start. My problem with the Obama administration is that they have showed almost no signs of being willing to get at the heart of the problem and fix it.

My problem with the Bush administration is that they created the problem. They let it grow. They were so blinded by their ideology that they destroyed the future for most Americans. But since they are rich they have waltzed away and don't have to suffer. Obama didn't create the problem. He is fumbling around and not getting serious enough about fixing it (mainly because he and Congress have been bought off by Wall Street money, the flow of bribes -- sorry, "political contributions" -- is so large that they don't want to see any problems or fix anything).

Elizabeth Warren would have found the bodies and propped them up and lectured everybody while the stench left Washington reeking. The politicians don't want this. So the bodies lie quietly buried. Elizabeth Warren gets to work on the periphery so that the powers that be can see "see, we have her working hard on the problem". But it is in a corner where she can't really rock the boat.