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  1. Wealth
August 3, 2011

Consumer Champion?

By Spear's

Elizabeth Warren and her fiscal soulmate President Obama are intent on waging war against the business community

Elizabeth Warren, depending on your political viewpoint, is the ‘goddess of the defence of the consumer’ or the ‘wicked witch of illiberalism.’ Either way what is certain is that she and her fiscal soulmate President Obama are intent on waging war against the business community and will not be denied.

Knowing that Ms Warren would never gain Senate approval they have reached for the iron fist of financial regulation, Richard Cordray. He is a man with a blustering attitude and combined with a penchant for fevered polemics in his attempts at ideological indoctrination. Regulation for the good of the nation and the consumer is one thing, but Mr. Cordray is using the notion of consumer advocacy to rationalize his assault on business.

Senior Banking Committee Republican Richard Shelby is right to insist that the Consumer Financial Protection Bureau become formally accountable to the legislative branch and broaden the Bureau leadership to mitigate any political agenda. Of course this is not the worldview of Mr. Obama and Ms. Warren who, like all elites, believe they know better, they what we all need and who should pay.

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