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December 5, 2012 at 10:40 AM

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Put Elizabeth Warren where she can help consumers

Rumors abound that U.S. Senator-elect Elizabeth Warren will join the Senate Banking Committee. That is the logical assignment for the outspoken consumer advocate from Massachusetts.

Warren, a Harvard University law professor, is a controversial critic of Wall Street, and Main Street consumer lending practices. She was featured in the 2006 documentary, “Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders” Here is a link to clips on YouTube.

Warren decided to run for the Senate after President Obama failed to nominate her to be director of the new Consumer Financial Protection Bureau, a creation of the Dodd-Frank Act, the remedial effort to deal with the financial services industry. She had advised the administration on how to craft the bureau, and faced a nasty reception in Congress.

Committee appointments are made in early January, so the current talk all falls into the category of speculative. Warren reclaims the Senate seat held for decades by Democrat Edward Kennedy. A Republican was elected in 2010 to fill the remainder of Kennedy’s term.

Warren is perfect for the Senate Banking Committee. Consumers need an advocate, and she brings knowledge, skills and experience along with her passion for economic justice to the job.


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