Congresswoman Jackie Speier

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Enough Is Enough - Put Elizabeth Warren in Charge

July 20, 2010
Op-Eds
Huffington Post
By Congresswoman Jackie Speier

View the original piece here

The last time I was this angry I was sitting in front of the TV in my bathrobe and slippers, watching the confirmation hearing for Clarence Thomas and listening to Senators interrogating Anita Hill as if she were a criminal. I vividly remember kicking a slipper off and throwing it at the TV. Why am I angry today? Now the powerful and the pundits have their eye on making sure the respected visionary Elizabeth Warren is kept in her place. Enough is enough!

Three years ago Professor Warren was clear in issuing warnings about the financial risks associated with sub-prime and no-doc mortgages and the shell games that were being masked as risk-free investments. She told us what would happen and it did. Isn't this insight worth something?

Professor Warren didn't limit herself to warnings, she laid out the foundation of what, with Congressional approval, is now the Consumer Financial Protection Bureau. Isn't this kind of creative thinking worth something?

The Wall Street bankers who got the benefits of a massive government bailout weren't able to kill the CFPB and they certainly don't like Warren. Some say she's ruffled feathers. The good old boy network of investors is uncomfortable around her. Is this because she is a woman in a male-dominated "sport," or is it that she's an advocate for middle-class families who sees nothing amusing about winning and losing with people's life savings?

Elizabeth Warren's detractors view her as a risky regulatory investment. She might do too much. They are essentially arguing that she needs Wall Street grooming, more time in the clubrooms, at least those that allow women. Frankly it is time to slam the door on the profiteers. Let them ramble on while we finally get some sane regulatory protections working for the men and women by calling on the President to put Elizabeth Warren in charge.