Simon Johnson writes What Is Spencer Bachus’s Game?. He's going after Elizabeth Warren, but any article that begins this way is worth reading:
Representative Spencer Bachus, Republican chair of the House Financial Services Committee, famously remarked in December, “in Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks.” With regard to the Consumer Financial Protection Bureau (CFPB), this apparently now implies that Mr. Bachus will use any means possible to change the topic away from substance – how banks treat their customers – to imagined procedural issues.
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The bankers and the Republicans are scared to death of Elizabeth Warren. She is one the few people on "the left" that has the personality (think mom, apple pie and Chevrolet), the style and substance (think well respected middle america teacher or community leader) and guts to stand up to the most powerful moneyed interests controlling major political/economic decisions.
She may be the only public figures to consistently stand up for the middle and working classes against the banking industry.
She's the closest thing to FDR in the government right now and the bankers and their minions will do everything and anything they can to stop her.
TT
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