Elizabeth Warren: Prairie Populist
Now here’s a woman we’d like to see in positions where her full head of steam would haul some really big freight.
In Elizabeth Warren’s world, credit card contracts would be so simple a teenager could read and understand them in four minutes. Loans would be as easy to compare as toasters, and online credit scores would be free.
“We need a new model: If you can’t explain it, you can’t sell it,” said Warren, 60, a Harvard University law professor who is head of the Congressional Oversight Panel for the Troubled Asset Relief Program, in an interview.
The 1966 high school debate champion of Oklahoma may get what she wants. The House of Representatives will vote in December on her idea. She suggested a Financial Product Safety Commission in a 2007 article in the magazine Democracy. President Barack Obama proposed it to Congress in June as the Consumer Financial Protection Agency.
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