Elizabeth Warren is full of it. (Despite having flashes of decency.) Our friends in the libertarian/conservative coalition have known this right from the start. But our friends on the “Left” seem always to defend her as some sort of Senator “for the people.”
She is not.
If there is one thing a real critic of the crony banking system, Republican/Democrat/other should be for it is for a real audit of the Federal Reserve. The bankers bank. The tool which is in place to backstop the banks Ms. Warren says are horrible predatory entities.
To the degree that they are predatory entities they are largely because of the monetary system perpetuated by the Federal Reserve.
In short, if anyone has a beef with the banks, the bailouts, the system, that person MUST have a beef with the Federal Reserve system. It is the prime mover of crony capitalism. It is a destroyer of money and wealth, not to say increasingly of the middle class.
Yet Ms. Warren wants the easy money which comes with the Fed system. She wants the “wizards” to work their magic. Because otherwise the economy would have to work on legitimate market principals. You know – supply and demand. That thing. You know REALITY. And Lord knows we can’t have that.
So Warren appears to be OK with the bankers raping the American economy over the long term so long as in the short term her constituency can get its monetary crack.
She has sided with the monetary drug dealers. Way to go.
If Elizabeth Warren can’t support an audit of the Fed she has no credibility as a critic of the banking system. What good is bitching about the symptoms if she refuses to address the cause?
You know Liz’s baby the Consumer Financial Protection Bureau is housed entirely within the Fed and paid for with Fed created money. (Some believe this is unconstitutional as Congress should determine funding not the Fed.) I didn’t think at the time it was instituted that it was a political pay off…
So the next time anyone talks about Warren in the context of a populist hero, remind them that the senator from Massachusetts believes the activities of the most powerful money-related institution in the country should be hidden from public scrutiny.