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By Simon Johnson The shadow primary for the Democratic Party is in full swing. What will be the ideas, themes, and messages that win support in 2016 – and will they carry the day in the presidential election? You can vote now at the Big Ideas project on almost every viable proposal from the progressive … Continue reading Vote in the Democratic Shadow Primary Now: Support Elizabeth Warren
By Simon Johnson These days, almost everyone likes to complain about institutional corruption – and various forms of intellectual capture of government orchestrated by big corporate interests. But very few people are willing to do anything meaningful about it. Zephyr Teachout is an exception. Not only has she written about the history of political corruption … Continue reading An Elizabeth Warren for New York
By Simon Johnson One of the most important results on Tuesday was the election of Elizabeth Warren as United States senator for Massachusetts. Her victory matters not only because it helps the Democrats keep control of the Senate but because Ms. Warren has a proven track record of speaking truth to authority on financial issues … Continue reading The Importance Of Elizabeth Warren
By Simon Johnson Karl Rove’s Crossroads GPS has another ad out attacking Elizabeth Warren (video here). This is beyond ludicrous – the ad attempts to blame Ms. Warren for the Troubled Asset Relief Program (TARP) and for bank bailouts. The principle here seems to be that when the truth cannot be slanted in a way … Continue reading Karl Rove’s Latest Attack On Elizabeth Warren
By Simon Johnson Karl Rove’s Crossroads GPS group has launched the first attack ad against Elizabeth Warren, presumably because she is now running hard for the Senate in Massachusetts. This ad is not a big surprise, but the line that Mr. Rove takes could well backfire. The ad states, “we need jobs, not radical theories … Continue reading Wall Street v. Elizabeth Warren
By Simon Johnson Ms. Warren is helping get the new Consumer Financial Protection Bureau (CFPB) off the ground and remains the leading contender to become its formal head (subject to Senate confirmation). She summarizes her substantive agenda this way, We’re trying to make these markets transparent, which makes it easier for community banks to compete … Continue reading Nominate Elizabeth Warren – Provide The Pecora Hearings We Need
By Simon Johnson The next big political battle in Washington – after the budget debate is declared “over” – will likely feature the Consumer Financial Protection Bureau, in particular the fight to determine whether Elizabeth Warren can become as the agency’s first official head. But will this fight feature a classic left vs. right set-piece … Continue reading Who’s Afraid Of Elizabeth Warren?
By Simon Johnson Congressional Republicans are apparently intent on a big showdown with Elizabeth Warren, who is currently building up the new Consumer Financial Protection Bureau (CFPB). This is very good news for the White House, if they use this opportunity wisely. Some Republicans seem to think that Ms. Warren is about “big government” or … Continue reading The Economics and Politics of Elizabeth Warren
By Simon Johnson The White House today is under pressure, with insiders asking: After the strong showing of the Republicans in the midterm elections, should the president move to the right or to the left? This is entirely the wrong way to think about the problem – the administration needs to get beyond its mental … Continue reading The White House Needs Elizabeth Warren, Now More Than Ever
By Simon Johnson The case for appointing Elizabeth Warren to set up the new Consumer Financial Protection Bureau (CFPB) was, at the end of the day, overwhelming. She had the original idea, she helped build political support, and her own credentials have been only strengthened by her work as head of the Congressional Oversight Panel … Continue reading Elizabeth Warren: The Right Appointment At The Right Time
By Simon Johnson President Obama is finally looking for bold, creative, and clever ways to change the way the US economy operates – preferably with measures that will take effect by the November midterms and change the tone of the broader political debate. His tax proposals this week have some symbolic value, but in the … Continue reading Republican Nightmare: Putting Elizabeth Warren to Work Now
By James Kwak Bob Lawless points me to this 2006 blog post by Elizabeth Warren. Warren describes a first-year contracts class on the case that upheld a fine-print forum selection clause (a clause saying that if you want to sue us, you have to sue us in X jurisdiction–Florida, in this case) on the back … Continue reading Yet Another Reason to Like Elizabeth Warren
By Simon Johnson It’s one thing to block Elizabeth Warren from heading the new Consumer Financial Protection Bureau. It’s quite another thing to deny in public, for the record, that any such blocking is going on (e.g., see this report; Michael Barr apparently said something quite similar today). There is a strong groundswell of opinion … Continue reading Treasury Makes A Mistake – Claiming They Are Not Blocking Elizabeth Warren
Although the Consumer Financial Protection Agency made it through the House more or less intact, the banking lobby is taking another, better shot at killing it in the Senate, and is planning to use the magic words: “big government” and “bureaucracy.” Elizabeth Warren wrote an op-ed for Tuesday’s Wall Street Journal that lays out the confrontation. … Continue reading Elizabeth Warren Calls Out Wall Street
By Simon Johnson, (13 Bankers, out tomorrow) Some people at the top of the administration begin to understand that it makes both economic and political sense to impose binding constraints on our largest banks. But even the clearest thinking among them still has a problem – breaking up banks seems too much at odds with … Continue reading Volcker, Warren, and Kaufman: There Must Be New Law
The Baseline Scenario 