Elizabeth Warren: A Voice of Warning

Elizabeth Warren is a gem, a national treasure.  Although her credentials are impressive and impeccable, it is her mien that is so powerful in speaking the truth.  In addressing the problems and solutions of our financial disasters, Warren speaks plainly so that the regular everyday Americans, whom she is trying to help, can understand the depth of our folly.  Here is her latest appearance with Bill Maher on his show:

http://www.huffingtonpost.com/2010/02/20/elizabeth-warren-its-bank_n_469939.html

Yes, it is funny.  It is also very, very scary.  Warren has spoken about the coming demise of the American middle class for a few years now.  The videos of her speeches are numerous on You Tube.  If you have some time, have a look at some of them because you will learn a lot from her.

Maher’s analogy of our financial companies with our sports figures are pertinent.  The unfortunate death of the Olympic luger could have been avoided not only if the track had been less severe, but also if the athletes curbed their desire for faster times.  The financial industry has this ongoing need for higher and higher profits, damn to hell whatever the fallout may be to our nation and our people.  The philosophy of “more, more and more” is self-defeating in sports as well as economics.  As the environmentalist Edward Abbey once said, “Growth for the sake of growth is the ideology of the cancer cell.”

Warren’s explanations of unsavory practices by our financial institutions are as straightforward as can be.  The solutions she offers up are also quite simple.  The disconnect between the problems and solutions seem to be a lack of will (and ethics) of the powers that make policy due to selfish intentions.  No corrupt system can correct itself if its major players are beholden to the insiders who fuel that system.

One teeny, tiny point I must include: Warren speaks of the rape of the middle class by our great financial industry with facts and figures.  I counter her argument, playing Devil’s advocate, by reminding America that no one is forcing Americans to borrow irresponsibly, whether it be usurious mortgages or credit cards.  Individuals in the market for financial services and products must read the contracts in front of them and then have the convictions to say “No”.  Economic competency and fiscal restraint is just as necessary on an individual level as it is on an institutional one.  However, I tend to believe Warren’s warnings of an industry gone “postal” as a much larger factor in our economic demise than the culpability of the average American.  There will always be overextended people, today more than ever due to the rise in living costs, such as health care, but it is criminal for our government and regulatory agencies to sit back while new and even more deceptive practices are thrust on the middle class.  In fact, even as we speak, new and more “creative” financial instruments are being marketed on top of the continuation of the “old” ones, which just about brought this country to its knees.

We are not done yet, either with our foolish, greedy ways or the ominous effect on our economy.  Elizabeth Warren is as plain-spoken as a person can get.  How much more direct correlation do we need to take the bull by its horns and fix what is ailing us?

POSTSCRIPT:

Take a few Saturday hours and expand your horizons.  Elizabeth Warren is very easy to listen to and very hard to forget:

Advertisements

Tags: , , , , ,

2 Responses to “Elizabeth Warren: A Voice of Warning”

  1. NatalieR Says:

    I LOVE this phrase: As the environmentalist Edward Abbey once said, “Growth for the sake of growth is the ideology of the cancer cell.” Brilliant. That says it ALL!!!

  2. middle child Says:

    Bill Maher ends with “This country just sucks.” It’s true. Forget ideology – no one cares about ideology except the idiot politicians. Everyone and their mother is throwing around the phrase “too big to fail” (which, by the way is a fabulous book and should be required reading), but the crux of the matter is that our goverment is too big to SUCCEED. They are dumb, whorish, paralyzed and absolutely USELESS. We are on are own – save your pennies – we will need them.

Comments are closed.


%d bloggers like this: