Consumer Protection Win

I was pleased by this bit of political news.  Woman with power, money, brains, and a law degree ... yeah, that's going to intimidate a lot of good ol' boys.

HUGE news: President Obama just appointed populist hero Elizabeth Warren
to establish and lead the Consumer Financial Protection Bureau!!

This is the boldest step Obama's taken so far to rein in the big Wall
Street banks. And it's a major victory for grassroots progressives who
rallied for Warren.

The banks fought to keep her out of this job--and now that she has it,
they'll do whatever they can to keep her from exercising her full
authority. That's why we need to get the word out--to make sure she has
the grassroots support she needs to aggressively police Wall Street.

So we made a video of Warren's greatest hits from her appearances on the
"Daily Show" and a list of five cool facts about her. Check them out at
the link below and send them to all your friends:

http://pol.moveon.org/warren_fivethings_share.html?id=23487-17420644-n1aTCPx&t=12

          Top Five Things You Should Know About Elizabeth Warren

1. The Consumer Financial Protection Bureau was her idea.  Here's why she
thinks this agency is so critical: "It is impossible to buy a toaster that
has a one-in-five chance of bursting into flames and burning down your
house. But it is possible to refinance your home with a mortgage that
has the same one-in-five chance of putting your family out on the street."1

2. The Republicans are so scared of her, they tried to pass a law blocking
her from leading the agency. Republicans in Congress and the big Wall
Street banks have always been against Warren leading the new consumer
agency. Republicans even offered an amendment that was widely understood
as designed to block Warren. That amendment failed.2

3. She is one of the most prominent, successful and fierce female lawyers
in America. Coming from working-class roots, she graduated from high
school as a debate star at 16. She finished law school when she was nine
months pregnant. And she has repeatedly been named one of the 50 most
influential female lawyers by the National Law Journal and was twice
nominated as one of Time magazine's 100 Most Influential People (among
other honors).3

4. She spoke truth to power about the failed foreclosure program. The Home
Affordability Modification Program was supposed to save homeowners from
losing their homes but has left many deeper in debt than they were before.
Warren used her position on the Congressional Oversight Panel to bring the
voices of these disaffected homeowners right to the decision makers in the
administration and demand accountability. 4

5. She may have actual superpowers. She once calmed a crowd at an NBA game
with her encyclopedic basketball knowledge. She explained the financial
meltdown so clearly to Jon Stewart that he said it made him "want to make
out with" her. And there's a viral cowboy rap video about her.5

Check out the video of Warren on the "Daily Show" and share it with your
friends and family. Just click here:

http://pol.moveon.org/warren_fivethings_share.html?id=23487-17420644-n1aTCPx&t=13

Thanks for all you do.

--Nita, Daniel, Anna, Jeff, and the rest of the team

P.S. Here is Elizabeth Warren's reaction to the news, with more
information on her new role:
http://www.moveon.org/r?r=90375&id=23487-17420644-n1aTCPx&t=14

Sources:

1. "Making Credit Safer: The Case for Regulation," Harvard Magazine,
June 2008
http://harvardmagazine.com/2008/05/making-credit-safer-html

2. "GOP Tried To Block Elizabeth Warren From Heading Agency She
Proposed," Huffington Post, October 27, 2009
http://www.moveon.org/r?r=90368&id=23487-17420644-n1aTCPx&t=15

3. "Elizabeth Warren," Wikipedia
http://en.wikipedia.org/wiki/Elizabeth_Warren

4. "Elizabeth Warren is Bostonian of the Year," The Boston Globe,
December 20, 2009
http://www.moveon.org/r?r=90369&id=23487-17420644-n1aTCPx&t=16

5. "How HAMP Makes Elizabeth Warren The Only Choice For Consumer
Protection," The New Deal 2.0, July 22, 2010
http://www.moveon.org/r?r=90370&id=23487-17420644-n1aTCPx&t=17

"Got a New Sheriff," Main Street Brigade
http://www.youtube.com/watch?v=6W0vCgMRX0o

"Elizabeth Warren is Bostonian of the Year," The Boston Globe, December
20, 2009
http://www.moveon.org/r?r=90369&id=23487-17420644-n1aTCPx&t=18

"Jon Stewart to Elizabeth Warren: Let's Make Out," Talking Points Memo,
January 27, 2010
http://www.moveon.org/r?r=90371&id=23487-17420644-n1aTCPx&t=19