Today the superhero of the economically disenfranchised announced she is filing paperwork to open an exploratory committee for the U.S. Senate race against Scott Brown who replaced Ted Kennedy after his death.
Scott Brown has been no friend to regular Americans. When it comes to big banks on Wall Street, Brown refused to vote for a tax on banks and hedge funds with over $50 billion in assets. When everyday families can't make ends meet, surely Brown could support them over companies with over $50 BILLION in the bank?! But no. Americans took the hit once again because Brown refuses to put people first.
In a piece by Yves Smith on Naked Capitalism Elizabeth Warren becomes the target of a fantasy Presidential run, but the same benefits of her unwinable race against President Obama can also be true as a viable challenger to Scott Walker.
Warren has been branded as a scourge of banks. Even though it should be common sense that selling exploding toasters is bad business, the fact that she talks repeatedly and persuasively about the need for rules to have markets work well makes her a threat to much of Corporate America. Note that their heated opposition to the idea of fair play reveals the importance of treating customers badly, looting the official coffers, or both to their business models.
So why should she bother? She has become a forceful, self appointed advocate for middle class American families. She has thrown her weight behind this objective since she worked on the Harvard Bankruptcy Project more than a decade ago (it served as the basis for her and her daughter’s book The Two Income Trap). Whether you agree with the wisdom of her choice or not, that was what motivated her to take the position as adviser to the Treasury and President and start up the Consumer Financial Protection Bureau and suffer an aggressive hazing in Congress and in the media by banking industry shills operating through the Republican party. So she is willing to take pain and less than certain bets to advance her goals (we thought she was never going to be head of the new agency. . . "
She is a tireless advocate for people like us at a time when so many feel Washington chooses corporate welfare over the economic interests of everyday Americans. While many prefer Warren to remain on the outside of the political elite, throwing stones alone is rarely as powerful as a U.S. Senator fighting for our issues. As a Senator she would have the weight of her office to not only speak to Americans directly and honestly about what is wrong with our economic instability, but she could propose legislation, conduct hearings, and demand accountability with Massachusetts voters - indeed all of us - behind her.
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