Elizabeth Rocks

Some posts just cry out to be written in and for me, this was one. The title, Elizabeth Rocks, came quickly to mind when I considered what I should write.

I realize that there are a number of Elizabeth’s I know that really are most impressive. As a Brit, Queen Elizabeth II is one of these fine ladies. She provides a unifying element in her various realms, and not least in Canada. She is almost universally liked, no small feat given her position.

Another impressive Elizabeth is Elizabeth Able, a co-moderator at Cre8asite Forums.   She has a number of intriguing online properties and QuoteSnack is perhaps the best-known of these.

The urge to write this post however did not come from an Elizabeth I know already. However a CNN article entitled, What’s so scary about Elizabeth Warren? was the trigger that encouraged me to be to put pen to paper, as you might say.

Elizabeth Warren doesn’t look or sound scary. She’s a 61-year-old Harvard Law School professor from Oklahoma who has written personal finance books, some with her daughter.

But conservatives and some bankers are trying to kill any chance that Warren – a consistent critic of the financial sector before it was cool to be one – will run the consumer financial protection agency that’s part of the Wall Street reform measure just signed into law by President Obama.

Here is what the article suggests she will be bringing to her new position:

Her ideas for a regulator for financial products became the template for the new agency, which is tasked with regulating mortgages and credit cards, as well as making new rules for much of the financial industry and enforcing them at the largest banks.

Before the financial crisis, she was already the authority on mounting credit card debt. And her books about the financial decline of the middle class have been must-reads in the consumer advocacy community for years.

Warren’s nomination would send a strong signal that the White House is willing to stand behind an aggressive regulator who will emphasize consumer needs over bank needs. White House spokesman Robert Gibbs called her “very confirmable” on Monday.

Like many I share the popular opinion that bankers in general can be somewhat arrogant and are certainly not very customer centric. They are already circling the wagons but hopefully Elizabeth Warren will be given the power to ensure US society gets a more customer-responsive banking system.