OMG! Elizabeth Warren sold-out!! The sky is fallinggggggg!

Is this hilarious or what?

Elizabeth Warren hires some bankers

A funny thing happened this morning. Normally, when the Obama administration hires someone who happens to hail from Wall Street, my Twitter stream erupts with snarky comments about how the latest move is yet one more piece of evidence that the banksters own the White House. Case in point: The decision to appoint J.P. Morgan executive William Daley as White House Chief of Staff.

But so far as I can tell, the Thursday announcement by Elizabeth Warren that she is appointing two former Wall Street bankers and a former Freddie Mac official to top positions at the Consumer Financial Protection Bureau hasn’t elicited a single peep.

The appointees are Raj Date, formerly a managing director at Deutsche Bank, Elizabeth Vale, a managing director at Morgan-Stanley, and Zixta Martinez, from Freddie Mac.

According to the Wall Street Journal, the hiring’s received hearty approval from Wall Street’s premier lobbying organization.

We’ve known and worked with Elizabeth in many capacities for years,” Financial Services Roundtable Senior Vice President Scott Talbott said, adding that both Ms. Vale and Mr. Date are talented and very experienced.

 

“Building a team to develop smarter financial regulations means hiring top-notch leaders with a wide range of experiences,” announced Warren. One could easily imagine Timothy Geithner or Barack Obama saying exactly the same thing and getting mocked for it.

Maybe the reason why commentary is muted is that progressives trust Warren to do the right thing. But the more obvious lesson to draw from this is that it is very very difficult to manage the financial sector without depending on talent drawn from the belly of the beast.

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86 thoughts on “OMG! Elizabeth Warren sold-out!! The sky is fallinggggggg!

  1. Interesting. DKOS has a petition to draft Warren for senate in MA. Will they continue with the same petition now that she apparently has sold out?

  2. Nice catch, bwd! Can you say: Double. standard.???

    What it comes down to is that much of this bashing supposedly based on principle and causes is opportunistic and dishonest. Anyone notice that there are insta-experts whose expertise extends from HCR, to oil booming techniques, to finregreform, to budgetary policy who keep a running denouncement of what POTUS is doing? Amazing that there’s such expertise on such a wide variety of issues, lol. IMO this sort of content is almost never consistent and it is almost always POTUS-centric. God bless them.

  3. She was never this pure perfect foe of Wall St., ever. She just took the view that regulation was needed but she’s as much of an insider as a bunch of people who the PL denounce. I’m not sure why they’re floating a petition; her name’s been raised in connection with that seat and I’m sure that it’s something which she’s already contemplating. I doubt highly that her decision will involve dkos in any capacity. I remember wishing that she wasn’t a netroots line in the sand during the period in which she was being considered for the position which was so obviously made for her (the Protection Bureau was her baby IIRC).

  4. Your point about “insta-experts” is SOOOO right on. I used to be so amused when reading posters who nimbly moved from HCR to Afghanistan to DADT to FLOTUS’ fashion choices — all with their oh-so-professional edicts on What Obama Should Be Doing. Of course, it was always the opposite of what he was actually doing, making their expert critique all the easier.

    It is to laugh.

  5. American Airlines to re-hire 200 flight attendants

    American Airlines and the Association of Professional Flight Attendants have struck a deal for the carrier to re-hire 200 furloughed flight attendants, the union said Friday. The new agreement is on top of 365 re-hires announced last week. Furthermore, 228 furloughed flight attendants remaining on the recall list will get unlimited recall rights, the APFA said, rather than be removed in November. Flight attendants under the latest deal will return to work in two groups, with 100 returning by July 15 and another 100 back to work by Oct. 15. APFA represents nearly 18,000 flight attendants at American Airlines.

    http://www.marketwatch.com/story/american-airlines-to-re-hire-200-flight-attendants-2011-02-18

  6. She is no more progressive than PBO. They are very much alike, very pragmatics. The PL either didn’t want to know, or did know and conveniently chose to ignore. My money is on the latter.

  7. How can they expect to get things done without the business community, wall street. At least we have our foot in the door. A door that was closed fot progressive. you Go Mrs. WArren.

  8. Huffington Post has an article the appointment of Raj Date but they present it is the best possible light. Even though the article states that Raj has a banking background, his consumer advocacy is highlighted and there is no snarkiness in the article or any implication that Warren is a sell-out because she chose to hire someone with a banking background.

    Yet we all know if it were President Obama, Huffington would have a huge bold red headline with a shady-looking picture of Obama, accompanied by a slanted report of all this guy’s ties to the banking industry.

  9. Oh, didn’t you know that the president forced her, twisted her arm, and made her hire them.

    I think that will be the way they look at it. After all, he is her boss. She has to do what ever she is told to do or he will fire her.

    bull pucky.

  10. the petition for her to run for Senator.

    You know of course that her supporters will just say she was forced to cover for Geithner and Obama and that she’s really not in charge because Warren would never ever do such a thing.

  11. Yea that shows Huff n Puff’s true colors as a true ObamaNot and more importantly a Republican, she’s hung out with Darrell Issa and Newt Gingrich, but pulled the wool over a few folks eyes as a “progressive.”

    Posting there, I recall many of the anti Geithner and Summers rants and how President Obama should have appointed such and such. It got old and repetitive.

  12. Seriously, I remember basically being accused of bigotry when I *asked* about the possibility that DADT could be raised in the lame duck session (because accusing people of bigotry in this regard with no proof was somehow viewed as unproblematic lol). The insta-experts who said that DADT repeal was over were somehow not able to grasp that there wouldn’t be fewer Dem votes in the lame duck session regardless of the election outcome. Good times!

  13. There’s the old saying that it takes a thief to catch a thief. You don’t hire an outsider to craft regulations for the inside.

  14. The thing about Bill Daley is that he was never really a “banker” – he worked in PR for that bank for a short time.

    In my mind, it’s more problematic that he headed up AT&T for a good many years. He’s always been the Daley brother that keeps landing on his feet – politics, business, whatever he does.

  15. I am beside myself with rage right now. Of course I’m not quite sure why but that’s misses the point. The point is Elizabeth Warren has sold me down the river for a handful of text messages and a lousy T-shirt. This proves she was always a corporatist in populous clothing. Or a Wall Streeter setting up a phony store on Maqin Street. Or a Tea Partier who never learned how to TIVO.

    Who were we talking about again?

  16. To me the distinction is between ideologue and pragmatist. Free country, and there’s nothing wrong with being an ideologue, but they can’t govern, are always in a cycle of hero/betrayer, and are easy prey for saboteurs and being led by the nose by the media. Perfect example: why was it okay for Markos Moulitsas to help get Crist into the FL senate race under the assumption that Meek couldn’t win and a moderate was better than a wingnut Republican, yet this sort of pragmatism and concession to the status quo is an evilselloutprostitutionwhore and evidence of a moral failing/lack of courage as applied to President Obama.

    LOL, it is what it is, but these stories and inconsistencies (which prove that the POTUS-bashing is irrational and dishonest) are accumulating and the Warren story is a perfect one.

  17. We were talking about THAT ONE. Elizabeth Warren was a fiction; what we thought was Elizabeth Warren was the catfood commission corporatist in the WH with a wig on, and he tricked us again!

    “I’m betrayed.”

  18. I LOVE YOUR LAST LINE…’THE BELLY OF THE BEAST.’ THIS IS WHAT I HAVE STRESSED ALL ALONG…YOU NEED PEOPLE WITH EXPERIENCE TO HANDLE THE NUMBERS…OTHERWISE YOU MIGHT AS WELL HIRE SOMEONE LIKE SARAH PALIN TO COUNT ON HER FINGERS AND TOES…SHE ALREADY READS PALMS!!!!!…:))))))

  19. “Know thine enemies.” Maybe they’ll bring their “expertise” to help the US out of the mess they put us in.

  20. LOL!!Darn you President Warr, er I mean Obama. (Shakes fist in the direction of White House)

    There’s only one person that can save us from this Koch brothers Geitner/Summers Martin and Lewis shill and that’s Elizabeth Warren.

    Uh-oh.

  21. Disgusting hypocrites who make me want to SCREAM.

    But I’m not giving them that much of me today!

  22. The good part is that President Obama has so much integrity, he’ll not only land on his feet but he’ll be there to catch the rest of them – like Daley (and keep them all in check). He selects people for their various talents, and keeps close watch. I trust our President to do the right thing, always. Look at his track record!

  23. Actually, see, if we join the tea parties and help the Koch Brothers help to remove THAT ONE from the WH, it works for us. Look at this perfectly thought out plan:

    1. Enable the GOP

    2. ??????????????

    3. Progressive utopia

    What could possibly go wrong?

  24. You’re joking, hopefruit? I like Elizabeth Warren but what experience qualifies her to run for the Senate (I know, none of the Republicans are qualified, but “progressives” are supposed to be better than that)? And why would she want to run for the Senate?

  25. Here’s the line that grabbed me:

    Maybe the reason why commentary is muted is that progressives trust Warren to do the right thing.

    So if Obama had done it – there would have been protest.

    Why?

    Because they do NOT trust him to do the right thing.

  26. A perfect example gn, thanks for putting it on here. That whole Meek thing bothered me greatly. The attacks on President Obama by the ‘professional left’ are constantly being shown to be highly questionable in any authentic ‘liberal’ capacity imo. Race, imo, is becoming more and more just too obvious as a player in all their angst.

  27. I hate to quote Oliver Cromwell, but this seems right on: “A man never goes so far as when he does not know whither he is going.”

  28. Bingo. It’s so obviously personal to POTUS I don’t see how they can attempt to deny it. So utterly hideous.

  29. The favorability ratings for labor unions remain at nearly their lowest level in a quarter century with 45% expressing a positive view. Yet the public expresses similar opinions about business corporations – 47% have a favorable impression – and this rating is also near a historic low.
    http://people-press.org/report/705/

  30. I love Elizabeth Warren. One of the few times I sat down and wrote a real letter to the President was about bringing Ms. Warren on board. I wrote to him, then made a copy of my plea and sent it to the First Lady, urging her to urge him to do it!
    I’m sure he was ten steps ahead of me🙂

  31. Is it okay to visit something from a previous thread in this one? Hope so.

    I found that Rachel Maddow clip to be enlightening, yet disturbing. Enlightening about why Boehner is pretending to be a rube to get through radical GOP agenda type stuff. Disturbing that she implied that the Democrats are somehow not supportive of the unions because they booked the Convention in S.C. which has non-union hotels. Is she so out of touch that she doesn’t realize the OFA is helping organize these demonstrations. I don’t understand.

  32. That’s disappointing to hear. It’s that sort of content which creates false equivalencies which are very unhelpful to voters who are trying to figure out the differences between the parties. I’ve never heard it suggested that supporting unions means boycotting every nonunion state in every regard even when there are compelling reasons to do otherwise, such as a gambit to introduce Democratic ideas to South Carolinans.

  33. Exactly. And it begs the question of why do they NOT trust him to do the right thing? Is there something inherently untrustworthy about President OBama, and if so, WHAT is it?

  34. I don’t think she wants to be a Senator. I think she is doing exactly what she wants to do, feels qualified for and likes doing.

    Have you read her book “The Two Income Trap”? She and her daughter wrote it in 2003, I think, from research they did but it is well worth the read even now. It shows her grasp of economics, societal issues and her real concerns for the middle class and the poor. She really likes what she does. The frustrati need to draft someone else for Senate.

  35. Wasn’t that just fun for days! I had to stay out of some of those diaries because they made my head ache.

    They do have some interesting ideas about bigotry and racism on that site.

  36. No, I haven’t read her book, though I’ve read about it. I think she is a highly-intelligent, highly-competent woman, but it just seems silly to decide she should run for the Senate when she’s never been involved in elective politics and has never professed interest in it.

  37. Can we expect the frustrati to be anything other that “silly” or filled with their own egotistical ideas? Their heads must all buzz in unison live bees in a hive.

  38. Sorry if I break the thread, but I was over on TPV and there were comments from someone was Kos complaining about the president’s budget cuts that could impact the poor. Kiwilime is the name being used and I am telling you, she is the same person from BWD. The name she was using here was Anita P?
    It was about a week ago or a little longer.

    Anyway, I have no doubt that Kiwi is that woman who has commented about how disappointing the president has been. She is on welfare, her daughter has ms, she has three people living for free with her? She taught for 25 years Ring a bell? Anita P? Obama is not doing anything for the poor or for blacks. He is a sell out.

    She said she was kicked off of the site. Very interesting.

  39. Oh, also she said she worked harder to get president elected than anyone. Pretty big statement.

  40. Wow- just wow, she received so much valuable and factual info that day from everyone on the thread, what a shame that she’s pushing this crap still. Especially on TIMT’s diary as it is additionally full of factual info. And no she wasn’t kicked off of here, in fact she received some very measured responses as I recall. Thanks for the info Dorothy.

  41. I mean how do you figure out if someone is a troll or expressing an honest opinion. I guess I just felt suspicious because why would he or she use two different names.

  42. “…Is it okay to visit something from a previous thread in this one? Hope so…”

    ^Tien Le, sure, I do it…😉

    Matter of fact, several threads back, I’ve been meanin’ to go back to a certain thread to respond to 1 or more posters.

  43. Slowly but surely. At some point corporations have to start re-hiring. Thanks for this site, first place I check in when I come home from work🙂

  44. The PL seems to me more like the TEAPARTY the way they attack PBO I remember the attacks against BWD they were vicious. Now let’s stay positive from now on.

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    FIRED UP…!!

    READY TO GO..!!!

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