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Elizabeth Warren who is championing (and should run) for the CFPA (Consumer Financial Protection Agency) should not be ignored by anyone that cares what happens to our economy in the long run. She has been promoting consumer protection what is now way back in 2004. Here on a PBS Frontline piece about, “The Secret History of Credit Cards” which aired on 11-23-2004. Which I highly recommended that everyone watch because you will understand why the banks are the way they are. Here she is again in Harvard Magazine, bring to light the harsh and deniable truth about, “The Middle Class on the Precipice.” I only bring this up because I came across this article on the Time, “Why Jamie Dimon is Afraid of Elizabeth Warren.” Why do you ask is the CEO of the 7th largest bank in the world afraid of this woman, with her background as professor of at Harvard in contractual law. Because he (and most all the big boys up in the top 1% of earners) know that she is right. I truly believe that there is a war on the middle class. This financial crsis is, in my humble opinion the nasty side of capitalism. I do not believe in the idea of Trickledown Economics from the Reagan years. In theory it is a sound idea, however over the last 30 or so years it has not panned out the way that it was sold, as evidenced here. Those on wall street are not the kings of the universe as they continue make themselves out to be. As Michael Moore said during an interviewed on the Hannitys', excerpt:
MOORE: Yes, yes, and there's a lot of small business people who struggle to get by. You know, I'm not against — when you say I'm against capitalism, I'm against what it has become.
HANNITY: In some instances.
MOORE: In most instances. Downtown here in the big picture of how this economy is being run, of how the money is being moved around. We don't make things anymore, Sean. Have you recognized that?
HANNITY: I've made things my whole life, so I agree with you. I agree with you.
MOORE: I'm talking about the money. We just make money off money now.
HANNITY: Some people do and some people do it in ethical way. Some people do it...
MOORE: But where's the stuff? Where's the next invention? Where's the thing — where's the incentive for our young people?
HANNITY: They're the ones that provide these start-up companies sometimes, the money that gets, you know, the next new drug that's going to extend or prolong our life. They're the ones that create the goods and services that we desire every day
We have less and less wealth in this country, we continue to ship it overseas in the way of jobs. We cannot have a strong middle class without a solid manufacturing base, which just emphasizes Mr. Moores’ point about. Only the self proclaimed kings of the universe seem to be making anything and it seems that their workmanship is pretty fucking shoddy. What check and balance is in place to examine the product, (that, remind you is able to be patented, copyrighted, and stolen), they are creating is safe. As you can see just by this site Foreclousures.com. Whenever 3M makes something for a home the FTC has to approve it through a process. Whenever BP drills a new oil well the EPA and Dept. of the Interior has to approve it through a process. Whenever something gets introduced into the food supply the FDA and USDA have to approve it through a process. So who checks to see if a mathematical formula, or the wording on a contract is going to bring a country to its knees before it happens? Or to check if it’s even fair.
Just for the record, I'm not against capitalism, I'm just not happy with the way it has evolved. I think it has lost its way.
This is a great op-ed by Elizabeth Warren on the middle class. 
Updated: 5/9/2010 13:15
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