Thanks, James Scurlock (the Morgan Spurlock of debt) who wrote a great piece about why Elizabeth Warren is so awesome. She gets what the real problem is: the financial system was profiting on the backs of American families. We're not going to be able to fix it or prop it up as long as people can't pay off their credit card debt. In fact several rounds of defaults are still looming.
"We can't have a modern economy without solvent banks, but we can't have solvent banks or a functioning economy without solvent families." That such a notion remains controversial is almost mind-numbing."
And that Ms. Warren would be attacked and berated for it by a usually incredibly smart and savvy financial journalist on a podcast, Planet Money, that I listen to every week is kinda bewildering. What I heard NPR's Adam Davidson say last week is that Ms. Warren is improperly imposing her "out of the mainstream" views on a process, the TARP, that is supposed to be led by sober "elder statesmen" (yes, he did say statesMEN--unfortunate choice of phrase). But her ideas should not be out of the mainstream. They are the new mainstream. She belongs to a select group of economic observers who warned that a day of debt reckoning was coming--not with scary voodoo or black swan hocus pocus but in plain, sober, easy-to-understand terms--"the problem is as much a credit crisis as a slide in conditions for average American families."
The Two-Income Trap should be required reading for Tim Geithner and crew.
4 comments:
The good news is that Prof. Warren's ideas are being or about to be implemented in the credit card arena. She's a hefty thinker, but probably not out of the mainstream from a consumer's point of view. Out of mainstream if you are in the financial services sector.
i did a google image search of her. she looks to be in very good shape and appears to have a mighty fine looking ass. i hope she doesn't get near arnold shwarzenegger, he likes to grab on when you least expect it. he hasn't grabbed maria shriver's ass in quite a while.
I talked to Paul Mangwana over the phone and I know NSA. GOV was listening in. Professor Warren is reputed to be hot in bed.That is why she has been so outspoken and assertive with regards to the world financial Titanic hitting an "iceberg" and plunging the world financial system into an abyss.Arnold Shcwarzenegger was pals with some of the Enron people.He would not be able to handle soembody as hot as Elizabeth Warren. Although, there are rumors nt he net that Maria Shriver and her cousin Caroline Kennedy are sharing the same bandolero linked to the Sandinistas. The rumors claim that both these women are hard to handle and that men get worn out by their demands. Professor Warren would tear Arnold to shreds in bed...
the rumors i hear are that professor warren has threesomes with this bandolero and they alternate between the threesomes with caroline kennedy and professor warren or maria shriver and professor warren. the bandido they have the threesomes with is said to be exhausted afterward.
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