An expert in bankruptcy law who is on the faculty of Harvard Law School, Elizabeth Warren is challenging the Obama Administration to do all it can to ensure our economy no longer goes through the boom and bust cycles we have seen for the past thirty years. Currently, Warren is the chair of a Congressional Oversight Panel monitoring how the Toxic Asset Relief Plan (oops, did I mean Troubled Asset Relief Program?) is implemented. This position has given her a soapbox to talk about what needs to happen for long range economic stability. The kind we saw post World War II for at least 50 years. As witnessed by yesterday's news, our economy can not continue to ride this roller-coaster that we have been on since the savings and loan crisis in the mid-1980s.
The second largest shopping mall developer files for bankruptcy. Foreclosure rates are rapidly increasing. New housing starts drop to their lowest levels, ever. Our economy is chronically sick.
So, Warren advocates a new path. Greater regulation and monitoring of our financial systems. Safety nets. Leveling out the booms and busts so all Americans can find a niche to succeed. She is spot-on and hopefully legislators and the current federal and state administrations are listening to her. This unassuming and brilliant woman. Here is another article relating Warren's cautious but insightful analysis of the financial institution crisis where she essentially says what we are doing mimics what Japan tried to do in the 1990s, and that decade in Japan is called: lost.
An economic hero. Or, as Jon Stewart said, "she gives chicken soup for the economy."
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