Message auto-removed

[Name removed]

[Vincardog]

1. Because the Banksters Own him. His only job is to protect the Banksters from reglation / prosecution

[blue neen]

17. "His only job is to protect the Banksters from reglation (sic)/prosecution".

Hyperbole.

[Vincardog]

32. Please prove me wrong. Name ONE Bankster threatened with jail time. Name one meaningful reform

proposed by this administration. Find either and I will withdraw my comment.

[blue neen]

34. No, you prove me wrong.

You made the statement that the President's ONLY JOB is to protect banksters. That's a joke, sheer and utter exaggeration, and completely untrue...and you know it. You made a statement that's only purpose was to be divisive.

When you decide to speak realistically and logically, then true issues can be discussed. I happen to admire and respect Senator Warren. I don't admire and respect glib smears.

[ProSense]

2. Interesting piece,

Today, I cast my vote on the Senate Banking Committee for Stanley Fischer to serve in the No. 2 position at the U.S. Federal Reserve. I asked Fischer tough questions – in person, at his nomination hearing, and in writing – and I have been impressed with the depth of his knowledge and experience.

But I cast my vote reluctantly because of my growing frustration over the concentration of people with ties to the megabank Citigroup in senior government positions...Fischer, after all, is just the latest Citi alumnus to be tapped for a high-level government position. Starting with Robert Rubin – a former Citi CEO – three of the last four Treasury secretaries under Democratic presidents have had Citigroup affiliations before or after their Treasury service. (The fourth was offered, but declined, Citigroup’s CEO position.) Directors of the National Economic Council and Office of Management and Budget, as well as our current U.S. trade representative, also have had strong ties to Citigroup.

No one doubts that there are smart, hard-working people at Citigroup and elsewhere in the financial industry. When I worked to set up the new Consumer Financial Protection Bureau, I interviewed, hired and worked alongside many people with private-sector experience. Private-sector experience can be valuable and should not disqualify someone from serving in the upper levels of government...The Citigroup clique has produced some effective public servants, but it has crowded out too many others who might have brought a different perspective to their service.

<...>

For too long, the titans of Wall Street succeeded in pushing government policies that made the megabanks rich beyond imagination, while leaving working families to struggle from payday to payday. Many Republicans openly acknowledge their ties to Wall Street, but Democrats have campaigned on an alternative approach focusing on expanding opportunities and leveling the playing field for the middle class. Democrats’ slogans have won some elections, but once in power, Democratic administrations have too often stacked top positions in government with people close to Wall Street. Stanley Fischer is a good man and has earned my respect, but this is a real and growing problem. If the big banks can seize both parties, then the Democrats—and the country—lose the central economic argument that government should work for the people, not just for the rich and powerful.

http://www.politico.com/magazine/story/2014/04/the-citigroup-clique-106125_full.html

...but it seems more about raising awareness and justifying her vote. Many of these people have ties to the Clinton administration.

[frazzled]

5. "I interviewed, hired and worked alongside many people with private-sector experience"

Yes, she did, but they were from Deutsche Bank and Morgan Stanley.

Congress created the Consumer Financial Protection Bureau to protect consumers from abuses in the lending industry. Now the bureau is turning to former members of the industry to help it police banks, credit card companies and mortgage lenders.

“Building a team to develop smarter financial regulations means hiring top-notch leaders with a wide range of experiences,” Ms. Warren said in a statement.

The bureau’s hires announced Thursday include Rajeev Date, the former Deutsche Bank managing director. Mr. Date, who also worked at Capital One Financial as a senior vice president, will be the bureau’s associate director for research, markets and regulations.

“Raj Date and his team bring a wealth of experience in the financial services industry, government, nonprofits, community banking and academia,” Ms. Warren said.

Ms. Warren also hired Elizabeth Vale, a Morgan Stanley managing director who was vice president and portfolio manager at Philadelphia National Bank.

http://dealbook.nytimes.com/2011/02/17/consumer-watchdog-hires-former-bankers/?_php=true&_type=blogs&_r=0

Note that Senator Warren DID vote for Fischer. Whether she did so reluctantly or not is, frankly, immaterial.

[Autumn]

3. Please cross post this in the Elizabeth Warren Group

http://www.democraticunderground.com/?com=forum&id=1265 it's nice to have all articles by her and on her in one place. TIA

Welcome to DU

[magical thyme]

4. creating a "team of rivals" against Goldman Sux? nt

[Scuba]

6. But she's not running for you-know-what!

[Auntie Bush]

21. I was going to post the same thing.

Sounds like she's not running...but will run in the future.

[woolldog]

7. She'll make a fantastic President.

[frazzled]

8. Why didn't she say former academic, IMF, or World Bank employees?

Stanley Fischer worked at Citgroup from 2002-2005. Three years out of a 45-year career in which he taught economics at MIT for 11 years (1977-88), was chief economist at the World Bank for 2 years (1988-90), was Deputy Managing Director of the International Monetary Fund for 7 years (1994-2001), and then 8 years as head of the central Bank of Israel (which, no matter what you think about that country, its central bank was ranked first in efficiency among all the world's central banks under his tenure). I don't think Citigroup defines him entirely, though that (and his textbooks) is where he made his personal money).

This portrait from the Times:

Stanley Fischer has worked for much of his professional life to improve economic policy in the developing world. Now he is on the verge of a new role in a country with plenty of economic problems of its own: the United States.

...

Mr. Fischer, now 70, is a widely respected figure in the world of economic policy. His academic work in the 1970s helped to provide the intellectual justification for today’s activist monetary policy. His students included the recently retired Fed chairman, Ben S. Bernanke, and Mario Draghi, head of the European Central Bank.

He subsequently began a career in policy-making, including a stint as second-in-command at the I.M. F. during the 1990s and, most recently, an eight-year run as governor of the Bank of Israel, a job he left in June.

Along the way, Mr. Fischer, born into a family of shopkeepers in a small town in present-day Zambia, in a home without running water, amassed a fortune as the author of a best-selling economics textbook and a senior executive at Citigroup.

http://www.nytimes.com/2014/03/13/business/economy/stanley-fischer-fed-nominee-has-long-history-of-policy-leadership.html

[BlancheSplanchnik]

19. interesting, thanks.

Adds a lot more to think about than just the headline face value.

[frazzled]

23. Another picture of Fischer, from The Guardian

Now that Janet Yellen is to be chair of the US Federal Reserve Board, attention has turned to the candidate to succeed her as vice chair. Stanley Fischer would be the perfect choice, given his unique combination of skills, qualities, and experience.

During his academic career, Fischer was one of the most accomplished scholars of monetary economics. He then served as chief economist of the World Bank, first deputy managing director at the International Monetary Fund, and, most recently, as governor of the Bank of Israel. He starred in each of these positions. Indeed, one has trouble thinking of another economist (at least since John Maynard Keynes) who has done as well as Fischer at combining analytical skill, sound policy judgment, clear expression, selfless dedication to improving the world, and the ability to get things done – with imperturbable good humor.

Moreover, Fischer gained extensive crisis-management experience during his tenure at the IMF in the 1990s and as Israel's central banker during the 2008-2009 global financial crisis. That makes him an ideal match for Yellen, who is also an unusually accomplished academic and policymaker, but who is at her best when she has had a chance to prepare meticulously.

http://www.theguardian.com/business/2013/dec/27/stanley-fischer-great-choice-federal-reserve

[BlancheSplanchnik]

25. well then. guess it's pretty clear

Who reads all posts and who's just shouting talking points.

That is some very positive information to have.

It is good to have information.

PS. Warren also brings important discussion; I'm not discounting what she said at all. I also wish she would run.

[stevenleser]

28. The Guardian vs. Elizabeth Warren?!?! Whatever is an Obama critic to do? Wait - I know!!!

We have the ultimate arbiter of truth that prints such anti-Obama luminaries as Glenn Greenwald versus the uncorruptible and never wrong Senator Elizabeth Warren (who truth be told, I admire quite a bit). How is any good Obama critic supposed to choose between them if they disagree?!?! Wait - I know!!!...

Go with whichever one is criticizing the administration. That one MUST be right.

in case it is needed

[MynameisBlarney]

9. Good question

Why indeed.

[IDemo]

10. 110% of liberal Democrats support Citigroup in senior government positions!

!!

[Fearless]

12. But fox says 113%!

[Fearless]

11. I should think it is obvious

And she is right to worry.

[Dustlawyer]

13. But there is no Quid Pro Quo according to Chief Justice Roberts!

[Zorra]

14. Rhetorical question, Senator Warren? nt

[BrotherIvan]

15. Yeah, why?

Looks like the BOrG is getting to work on the answer, Senator Warren, they'll call you shortly to tell you why you're wrong.

Here, look at this picture of Bo instead

[Roland99]

16. Obama tossed aside all progressive economic advisors days after taking the oath of office

his slide started pretty damn early on.

[chknltl]

18. A lot of our fellow DUers would like an honest answer to this question too.

Good OP, KnR and welcome to the Democratic Underground Gary Garrison.

[zeemike]

20. And we all know the answer to it.

Money...cause money talks and they listen.

[1StrongBlackMan]

22. Because they are well qualified to do the job ...

that they are being asked to do ... just like you, Ms. Warren.

[woo me with science]

24. Same reason he supports the TPP, drilling and fracking, indefinite detention,

drone wars, private prisons, corporate schools, bank bailouts, austerity for the 99 percent, toll highways, Homeland Security groping, a massive surveillance state targeted at Americans, corporate control of the internet, assaults on journalism, propaganda for Americans, and persecution of whistleblowers...

It's a corporate, Trojan horse presidency, systematically implementing the corporate agenda that is destroying this country and our Constitution and impoverishing millions.

This is why we need you, Elizabeth....or Bernie, or Robert...

We are sold out, lock, stock, and barrel, and we are under malignant assault even by those who claim to represent us.

We desperately need all of you.

[xiamiam]

27. ashamed I was fooled by the lies in 2008

we need a complete restructure..lifelong dem here and after obama, my eyes are wide open and may never believe anything a politician says again with very few exceptions. At least he did that. I thought I was at least a little savvy about the way things work but Obama definitely took political lying to a jaw dropping level.

[woo me with science]

30. I don't recognize this country anymore. This is the level of corruption

we are dealing with, that our politicians are purchased hacks for corporations that treat us with contempt. Under corporate government they no longer even attempt to represent us; they market slick advertising, threats, and promises they have no intention of keeping to pass the legislation that is destroying us. The United States of America is now a surveillance state where even online political discussion sites are infested with government propaganda and lies.

I honestly never thought I would see my country come to this. You are right - we need a complete restructuring. They have been dismantling our defenses for some time now, though. I really, really hope we find a way to make it happen peacefully, because the oligarchs and corporate fascists are not going to relinquish their human farm willingly.

[gratuitous]

26. Apparently it's a total coincidence

And you can't judge someone's entire life or career by a job they had for just a few years, and there's nothing else they all have in common, and it isn't really a problem because they're all just dedicated public servants, and you're just being paranoid, and they're all eminently qualified, and don't you know that all the liberal Democrats support these nominees, and you're not being sensible. {Cue ominous organ chord}

[druidity33]

29. yeah, i got that from this thread too.

My only issue with the piece by Warren is that it appeared in Politico. Otherwise, she made some real salient points. I don't understand the animosity some on this board have for her.

[stevenleser]

31. I don't think there is animosity toward Senator Warren here.

I think there is a lot of sarcasm aimed at how some DUers view her. It's pretty ironic that many of those same DUers accuse Obama supporters of being a cult, or never disagree, but then the same folks elevate Warren to almost godlike status.

I like Senator Warren A LOT. She is easily one of my favorite Senators. But I don't hang on her every word as if it was divinely inspired, or from a divinity.

[warrprayer]

33. rec