Barney Frank supports Elizabeth Warren

[POAS]

on the Maddow show (Chris Hayes guest host).

HAYES: OK. So why do you think Elizabeth Warren should be appointed to head up the new Consumer Financial Protection Bureau?
FRANK: Well, for the reasons you stated plus another one. She‘s a very savvy political operator. We have this unfortunate view that if you are passionately idealistic and committed to a set of views, then you somehow must be unrealistic.
And if you are someone who‘s hardheaded and understands how to work the political process, then you must be someone without values. That‘s a terrible division.
In fact, if you are idealistic, then you, it seems to me, are morally obligated to be pragmatic, because otherwise, your ideals will never get to help anybody, and Elizabeth Warren is an example of that.
I had a wonderful experience working with her. I met her when we started out on this. I was glad to be her ally in getting this established. And throughout the process, she was sensible and thoughtful and effective. We worked very closely together.
So the notion that somehow because she cares so much, she couldn‘t do this effectively is exactly wrong. And I was glad, by the way, you mentioned subprime, because this is not simply to protect consumers, although that‘s very important. It‘s also to protect the economy.
One of the fights we had - and ironically, the Republicans try to blame our advocacy for lower income people for the crisis.
Exactly the opposite is the truth. Beginning in 2004, Democrats on the committee I now chair, but we were then the minority, tried to restrict (UNINTELLIGIBLE) the subprime loans that should not have been granted to people who should not have gotten them on the terms they couldn‘t pay for it.
Finally, in this bill, we do create the laws because we finally got the ability with the Democratic Congress and the president to do it. And this bureau will administer those laws.
So when the bureau steps in, I hope under Elizabeth Warren, and protects consumers from being put in the loans that are just going to ruin their lives, that will also be helping protect the economy.
And you know, I was just going over some quotes from the Republicans and “The Wall Street Journal,” “Oh, the market will do it. Stop blocking the dream of home ownership.” And of course, that was their argument for not going forward.
But Elizabeth Warren, in addition to everything you‘ve said, is a very able operator. And that‘s going to be important, because there will be obstacles put in her way. And she is smart and tough as well as idealistic.

Link: MSNBC Transcripts

[Cha]

1. Thanks poas...Barney Frank is an excellent advocate

for Elizabeth Warren.

"In fact, if you are idealistic, then you, it seems to me, are morally obligated to be pragmatic, because otherwise, your ideals will never get to help anybody, and Elizabeth Warren is an example of that.
I had a wonderful experience working with her. I met her when we started out on this. I was glad to be her ally in getting this established. And throughout the process, she was sensible and thoughtful and effective. We worked very closely together."

[bobburgster]

8. Hey, isn't Barney a liberal, progressive spokesperson of the left?

Wonder why there are not 200+ recs. Oh, I see why now....he used the "P" word.

[quiet.american]

2. Indeed. My vote goes for Elizabeth Warren, too. nt

[POAS]

3. I think Obama would be wise

to listen to the voices calling for her to get the job. Barney is just one of many.

[Cha]

4. Definetly! Here's to Elizabeth Warren &

Barney Frank. :fistbump:

[NYC Liberal]

5. Thanks for posting this.

K&R :kick:

[Scurrilous]

6. K & R

:thumbsup:

[CBR]

7. K&R...

Very important insights from the Congressman...