US

The Power Of Finance Could Change Forever If Elizabeth Warren Is Made Supreme Court Justice

Elizabeth Warren, who is chair of the Congressional Oversight Panel investigating the banking bailouts, is now being put forward as a name for consideration to replace retiring Supreme Court Justice Stevens.

The Harvard law professor has clear opinions on where the financial balance of power is to head in America, and its not in favour of the banking and financial services industries.

  • Today, Warren called for banks to seriously consider writing down mortgages in the pursuit of a more realistic housing market, but also placed pressure on homeowners to be honest about what they can and can’t afford.
  • Warren is a supporter of the Consumer Financial Protection Agency, part of Sen. Chris Dodd’s financial reform bill. Here she is talking about its importance:

  • Warren has stuck her neck out in defence of the proposed CFPA, saying that it needs to exist independently of the Treasury so it can have a “cop on the beat” who’s purpose is focus on the relationship between the financial industry and consumers alone.
  • She is an advocate for the plight of the middle class and the comparative losses they have had to endure as a result of economic change.
  • Warren is also a strong proponent of health care reform, and has often talked about the impact of medical bills on middle class family bankruptcies.

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