\u201cWe need a new model: If you can\u2019t explain it, you can\u2019t sell it<\/strong>,\u201d said Warren, 60, a Harvard University law professor who is head of the<\/font> Congressional Oversight Panel<\/a> for the Troubled Asset Relief Program, in an interview. <\/font><\/p>\n The 1966 high school debate champion of Oklahoma may get what she wants. The House of Representatives will vote in December on her<\/font> idea<\/a>. She suggested a Financial Product Safety Commission<\/strong> in a 2007<\/font> article<\/a> in the magazine Democracy. President Barack Obama proposed it to Congress in June as the Consumer Financial Protection Agency<\/strong>. <\/font><\/p>\n Warren won\u2019t discuss whether she may be a candidate to lead the authority, which would have the power to regulate $13.7 trillion of debt products. A Warren nomination would tell banks that Obama is determined to force reduced checking-account fees and limit lender claims in mortgage advertising, among other measures the industry opposes, said Thomas Cooley, dean of New York University\u2019s Stern School of Business. <\/font><\/p>\n \u201cShe is an ideological crusader<\/strong>,\u201d Cooley said in an interview. \u201cShe is a person who will stir up a lot of trouble.\u201d In a column in Forbes<\/font> magazine,<\/a> Cooley accused her of \u201cwaging a self-righteous holy war.\u201d <\/font><\/p>\n The criticism doesn\u2019t bother her, Warren said. She learned to shake things off growing up in Norman, Oklahoma, with three older brothers \u201cin a family of car parts and fist fights,\u201d she said. \u201cIt was get tough or die, and I decided to get tough.\u201d\u2026 [emphasis added<\/em>]<\/font><\/p>\n<\/blockquote>\n Inserted from <Bloomberg<\/a>><\/p>\n Warren is my choice for Treasury. We need a person who will stir up a whole lot of trouble there to replace the Big Finance lackey who currently holds the job. But barring that, there is nobody more qualified to head the CFPA than Elizabeth Warren.<\/p>\n","protected":false},"excerpt":{"rendered":" I ran across a wonderful article on Elizabeth Warren. Here\u2019s just a taste. In Elizabeth Warren\u2019s 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. \u201cWe need a new model: […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-286","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=286"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/286\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"ElizabethWarren\"](\"http:\/\/s217.photobucket.com\/albums\/cc83\/TomCat1948or2\/Blog%202009\/NoSaleIfYouCantExplainIt_1BB4\/ElizabethWarren.jpg\" "\\"ElizabethWarren\\"")
<\/a> In Elizabeth Warren\u2019s world, credit card contracts would be so simple a teenager could read and understand them in four minutes<\/strong>. Loans would be as easy to compare as toasters, and online credit scores would be free<\/strong>. <\/font><\/p>\n