Left In Lowell

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December 4, 2012

Breaking News: Dems Don’t Cave!

by at 1:10 pm.

Elizabeth Warren, despite the all-out, and early, Wall St lobbying in opposition, has been nominated to the Senate Banking Committee, where she can do the most good for the economics of the middle class.

Warren’s big claim to fame, after all, is her long study of economics, bankruptcy, housing markets, and other family finance concerns. She cut her political teeth in her opposition in the late 90s on opposing the bank-and-credit-company backed bankruptcy reform, which initially was successfully fought off, until under the Bush administration it passed, with the support of formerly-opposed, newly elected Senator Hillary Clinton.

Putting this woman in the position of safeguarding her best political triumph, the Consumer Financial Protection Bureau, and doing more work of the same, is the obvious choice. But it was never assured, due to the influence Big Finance has in D.C. So I’m glad the Dems are starting to really buck their capitulating ways (Exhibit B: Obama is not pre-negotiating with himself on the “austerity crisis”). Maybe there’s something salvageable about the party on the federal level after all!

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