CNN is reporting that President Barack Obama is preparing to abandon the candidacy of consumer advocate Elizabeth Warren to be the first head of the newly formed Consumer Financial Protection Bureau.
If this is true it represents a tremendous blow to working families and a tremendous win for big business and their lobbyists. The fact that Obama’s political fundraising team is simultaneously setting records for the 2012 presidential election cannot be ignored, given that the industries exploiting working American families are the biggest donors to this system of legalized bribery.
This is a slap in the face of every consumer who has ever been ripped off by one of these companies and every employee that has ever been exploited by one of them. One that proves Obama is no different than the other candidates advanced by the two major political machines. T
It wasn’t long ago that Obama said Warren was going to fight in his name for the middle class. Apparently, that was a strategy to break loose compaign donations from the businesses she might have regulated.
We were all schmucks for thinking he cared about us as working Americans.
