Wednesday, April 14, 2010

My Favourite Regulator

Of all the appointees of Barack Obama, the one I'm most pleased with is Elizabeth Warren. She is honest and dogged. Here she takes down Tim Geithner's Treasury Department:

This is about as close as you will ever see a federal bureaucrat to calling another bureaucrat "a useless piece of shit". She gives the numbers to show just how big a failure Geithner is in bailing out people. Geithner has been wonderful at bailing out the big banks, his buddies. But when it comes to ordinary folks (and the real economy), Geithner is an incompetent! There has been essentially no help to stop the wave of foreclosures which is destroying Main Street, the real economy.

She says something you don't hear elsewhere in the Obama administration: "Start rebuilding the economy on solid ground." As far as I can tell, Larry Summers and Tim Geithner are in the business of deck chair rearrangement on the Titanic when it comes to the housing crisis. Elizabeth Warren is saying words that need to be said. Too bad Obama isn't listening.

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