Elizabeth Warren begins making her move

[babylonsister]

http://voices.washingtonpost.com/plum-line/

Elizabeth Warren begins making her move: If anyone still wonders whether Elizabeth Warren will be constrained in her new gig as Obama's top Wall Street consumer cop, her first speech to bankers, in which she extended an olive branch but told them the fun and games are over, should put that to rest.

********************************************************


Warren extends olive branch to bankers


By Brady Dennis

snip//


In her speech and in an interview earlier in the day, Warren said she hopes to take a more "principles-based approach" to regulation, rather than simply saddling companies with more of what she calls "thou shalt not" rules -- which make for burdensome, costly compliance and which banks often start trying to skirt as soon as they are written.

"Regulators can make more pronouncements from on high, identifying suspicious practices in the various markets and banning them. Or regulators can layer on more disclosure requirements," Warren said in her remarks. "But neither restores customer trust."

Rather, she said, "Let's measure our success with simple questions" -- Can customers understand a product? Do they know the risks? Can they easily figure out what it really costs?

The speech contained an understated but unmistakable challenge to those in the room to change their ways. Glimpses of the feisty Warren remained, such as when she noted that "too many Americans see dealing with banks like handling snakes - do it long enough and you'll get bit."

more...

http://voices.washingtonpost.com/political-economy/2010/09/warren_extends_olive_branch_to.html

[mikelgb]

1. Looking Good. I hope her bite is as good as her bark.

Go get 'em!

[Bluenorthwest]

2. Warren's precise and strong language is frightening to them.

I for one did not expect her to be constrained, I expected her to do what she always does, speak with great skill, directly to the point. She's not constrained, she's prepared, she's courageous, and she's correct.
I like what she says, and I absolutely love the way she says it. President Obama did a very good thing I give him both praise and a slightly hopeful smile for appointing Elizabeth Warren. I will also hazard a guess that she is going to turn out to be wildly popular, not just with those of us who wanted her but with a broad and diverse majority of Americans.

[gateley]

12. And music to our ears. nt

[COLGATE4]

3. Kudos to Obama for sticking it out and finally getting her services.

She's just what the doctor ordered.

[alcibiades_mystery]

4. As Ms. Warren goes about her business

All you'll hear are crickets from the Gripe Squad.

[glitch]

5. Kudos for the new put down. Whiners was tired.

Also, extra points for pre-emptively making good news divisive.

[alcibiades_mystery]

6. Lectures on

producing divisiveness from you ring somewhat hollow. Now get back to punishing bad Dems and stomping your little feet. I don't give a shit what you have to say.

[Enrique]

7. "kinder, gentler approach"

that's just fine with me. This is a speech. I'm perfectly content with a regulator taking a kinder, gentler approach in a speech, as long as she doesn't take a kinder, gentler approach in her regulating, which I don't expect her to do. I expect her to be tough.

Likewise, I would not be impressed with a regulator taking a firebreathing line in a speech. Someone could take a firebreathing line in a speech and then turn around and be a pussycat when it comes to the regulating.


(...)

But mostly, this was a kinder, gentler approach. The group's president, Steve Bartlett, had invited Warren to speak at the meeting before President Obama named her to the lead role in shaping the new consumer agency, before she had an official title, before her words had to be vetted by the powers-that-be in the administration.

"She's on point for an issue we care about -- protecting consumers," the group's chief lobbyist, Scott Talbott, said in explaining the reason for asking her to be the keynote speaker.

Since taking the job earlier this month, Warren has reached out to chief executives, trade associations, members of Congress and consumer groups. She seemed Wednesday to be aiming for harmony among the warring factions, at least for now.

"It is now, right here at the beginning, that we have a remarkable chance to put aside misconceptions and preconceptions -- whether they are yours or mine. We have a chance to build something better," she said. "I'm here tonight to ask if we can work together."

(...)

[Parker CA]

8. Kick and Rec!

[FrenchieCat]

9. K&R

[Uzybone]

10. you mean she didn't do a citizens arrest?

Or smear the bankers with fake blood?

Sell out!!

[mkultra]

11. EW for the win

[Skidmore]

13. The only thing that worries me is that

we lose majorities in congress and the Rs set about rigourously dismantling this effort.

[Kdillard]

14. That is why we have to do what we can to make sure that doesn't happen.

[Scuba]

15. Go Elizabeth, Go !!!!!!