Members of the media credit GW alumna and chair of the Congressional Oversight Panel on the Troubled Asset Relief Program Elizabeth Warren with predicting the financial crisis.
Now, she advocates on behalf of the middle class to fix it.?
Warren, who attended GW for two years before following her husband to Rutgers Law School in New Jersey, has been highlighted in the news recently for her work advocating on behalf of the middle class. Last Sunday, Huffington Post co-founder Arianna Huffington even suggested that the 60-year-old Warren could be a possible replacement for soon-to-be-retired Supreme Court Justice John Paul Stevens.?
“I think Elizabeth Warren – especially if we can clone her so she can also run the Consumer Protection Agency – would be a great nominee,” Huffington said on ABC’s “This Week.”
“A Harvard Law professor, an expert on bankruptcy law, on many of the ways in which economic policies are impacting the middle class, exactly what the country needs right now, a compelling communicator,” Huffington added.
Warren had no comment on Huffington’s suggestion.?
In the past years, she appeared on “The Daily Show with Jon Stewart,” “Now” on PBS, “Dateline NBS” and CNN’s “Lou Dobbs”, spreading her message to a larger audience.?
Over the last year, the Congressional Oversight Panel has reviewed the U.S. Treasury’s actions since October 2008, when Congress allocated $700 billion to save the U.S. economy. Recently the COP criticized the bailout of GMAC Financial Services, the credit arm of General Motors.
Leading up to the financial crash and bailout, Warren said in a deregulated economy that practiced excessive risk taking, it was a just matter of time before there would be a collapse in the financial industry. A deregulated economy is an economy where the government rules and regulations over the operations of the market are removed or highly limited.
“A largely deregulated financial industry took on more and more risks and aggregated those risks with complex financial products and then magnified them with debts on those products ultimately bringing our country to its knees,” Warren said.