Archive for the ‘Elizabeth Warren’ Category

CORDRAY ‘YOU’RE FIRED”

Wednesday, April 19th, 2017

 

The Consumer Financial Protection Bureau was the brain child of Elizabeth Warren.   Nancy
THE WALL STREET JOURNAL

You’re Fired,’ Trump Should Tell Richard Cordray

Under a dubious statute, the CFPB head can be dismissed only for cause—but there’s plenty of it.

April 13, 2017 6:56 p.m. ET

Messrs. Rivkin and Grossman practice appellate and constitutional law in Washington.

The greatest mystery in Washington involves not Russian spies or wiretaps but Richard Cordray’s continued employment as director of the Consumer Financial Protection Bureau. In the face of President Trump’s mandate for change, Mr. Cordray continues the Obama administration’s regulatory crusade against lenders, blocking access to the credit that supports so many small businesses and so much consumer spending.

Why would a president who made a TV show out of firing underlings now suffer a subordinate who refuses to get with the pro-growth agenda he campaigned on? If reports from the West Wing are to be believed, Mr. Trump’s unusual timidity is the result of overcautious legal and political advice.

Mr. Cordray is insulated from presidential control by a New Deal-era innovation: a statutory clause that allows the president to fire an independent agency head only “for cause,” meaning “inefficiency, neglect of duty, or malfeasance in office.” In October a three-judge panel of the U.S. Circuit Court of Appeals for the District of Columbia struck down that restriction as an infringement of the president’s constitutional authority to “take care that the laws be faithfully executed.”

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HIS AND HER CLINTONOMICS

Saturday, May 21st, 2016
THE WALL STREET JOURNAL
HIS AND HER CLINTONOMICS

Democratic presidential candidate Hillary Clinton and former President Bill Clinton on May 7 in Los Angeles.ENLARGE
Democratic presidential candidate Hillary Clinton and former President Bill Clinton on May 7 in Los Angeles. PHOTO: ZUMA PRESS

In his 1992 campaign Bill Clinton liked to tell voters they’d be getting two for the price of one, and now Hillary Clinton is dusting off the same promise. She said this weekend in Kentucky that she’d put the First Husband “in charge of revitalizing the economy,” and she’s since added that “he’s got to come out of retirement” to raise incomes and put people back to work.

Mrs. Clinton’s remarks are a revealing turn, not least because so far she’s been running for President Obama’s third term. But since Democrats seem to agree that the economic status quo is dismal, and thus they can’t run on Mr. Obama’s record, the presumptive nominee is trying to confuse voters with halcyon memories of the 1990s boom.

The Clinton gang has since “clarified” that Mr. Clinton’s ministrations will be confined to distressed U.S. regions like inner cities or coal country. Maybe they realized that vowing to outsource one of her most important jobs might diminish her as a candidate.

Her larger problem is that the Obama-era Democratic Party has repudiated the Democratic Party’s Bill-era centrist agenda. They now call themselves progressives, not New Democrats, and they take their marching orders from Bernie Sanders and Elizabeth Warren,not Larry Summers and Alan Greenspan. Mrs. Clinton has accommodated this trend to the pre-Bill left.

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SHUTTING DOWN THE GLOBAL WARMING DENIERS

Saturday, October 10th, 2015

 

THE WALL STREET JOURNAL

Shut Up—Or We’ll Shut You Down

Elizabeth Warren isn’t the only one trying to silence her opponents.

Last month George Mason Professor Jagadish Shukla and 19 others signed a letter to President Obama, Attorney General Loretta Lynch and White House science adviser John Holdren urging punishment for climate dissenters. “One additional tool—recently proposed by Senator Sheldon Whitehouse—is a RICO (Racketeer Influenced and Corrupt Organizations Act) investigation of corporations and other organizations that have knowingly deceived the American people about the risks of climate change, as a means to forestall America’s response to climate change,” they wrote.

In other words, they want the feds to use a law created to prosecute the mafia against lawful businesses and scientists. In a May op-ed in the Washington Post, Mr. Whitehouse specifically cited Willie Soon of the Harvard-Smithsonian Center for Astrophysics, who has published politically inconvenient research on changes in solar radiation.

The RICO threat is intended to shut down debate because it can inflict treble damages upon a defendant. Enacted to stop organized crime and specifically to prosecute individuals tied to loansharking and murder-for-hire, it was long seen as so powerful a tool that the government warned prosecutors to limit its use.

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DON’T CROSS ELIZABETH WARREN

Monday, October 5th, 2015

 

THE WALL STREET JOURNAL

Don’t Cross Elizabeth Warren
A left-leaning think tank gets a visit from the thought police for heresy on regulation.

By L. GORDON CROVITZ
Oct. 5, 2015
What good is a think tank if thinking isn’t allowed? That’s the question the hard-left senator from Massachusetts, Elizabeth Warren, forced on the soft-left Brookings Institution by getting one of its top economists fired.

Her victim is Robert Litan, a Democrat who served in the Clinton administration and had been associated with Brookings since the 1970s, including as a former director of its economics division.

The ambush of Mr. Litan occurred in Internet time. At 8:30 a.m. on Tuesday last week, the Washington Post reported online a letter Ms. Warren sent to Brookings complaining about him. Twitter lit up, with her fans demanding Mr. Litan’s head. “If @BrookingsInst has integrity will loudly fire ‘scholar’ Robert Litan today, declare new policies. If not . . .” tweeted David Cay Johnston, a left-wing writer, at 8:52. By 9:30 Mr. Litan was gone.

In July Mr. Litan had testified against a Warren-backed Labor Department plan to regulate financial advisers. His cost-benefit analysis estimated that during a market downturn the regulation could cost investors—especially those who aren’t wealthy—tens of billions of dollars by depriving them of advice, such as against panic selling. Half of House Democrats and virtually all Republicans in Congress oppose the plan because of its costs.

Instead of rebutting his argument, Ms. Warren decided to punish it. Her letter to Brookings president Strobe Talbott accused Mr. Litan of concealing a conflict of interest. The first page of Mr. Litan’s testimony says: “The study was supported by the Capital Group, one of the largest mutual fund asset managers in the U.S.” She called that disclosure “vague”—an obvious falsehood.

Mr. Litan had told his colleagues at Brookings, including Mr. Talbott, about Ms. Warren’s complaints, and they seemed unconcerned as late as the morning her letter went public. “Two hours later,” he told me, “it was clear that there was a high level of distress at Brookings, and after 40 years I left. That’s it.” (more…)

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