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Please begin with an informative title:

Wall Street profiteers may never recover as our favorite consumer advocate finally has achieved her dream and the dream of many others in the Middle Class.

According to the Huffington Post:

Nearly two years after Wall Street waged a successful campaign to keep consumer advocate Elizabeth Warren from running the Consumer Financial Protection Bureau, the incoming senator will be tapped to serve on the Banking Committee, according to four sources familiar with the situation. It's a victory for progressives who battled to win her a seat on the panel that oversees the implementation of Dodd-Frank and other banking regulations.



You must enter an Intro for your Diary Entry between 300 and 1150 characters long (that's approximately 50-175 words without any html or formatting markup).

I first heard of Elizabeth Warren with her posts to the consumer blog about creditors many years ago and I immediately saw a fellow consumer advocate. Our family actually received a settlement as a result of her establishing the U.S. Consumer Financial Protection Bureau.

Her work as a national policy advocate led to the conception and establishment of the U.S. Consumer Financial Protection Bureau.


Her research at Harvard on bankruptcy and consumers have disproved all the right wing and business propaganda about the bankruptcy process in America.
Research Interests

Empirical and Policy Work in Bankruptcy and Commercial Law
Financially Distressed Companies
Women, the Elderly, and the Working Poor in Bankruptcy
Subject Areas for Supervising Written Work

Commercial Law
Empirical Studies of Legal Systems
Subject Areas for Accepting Press Inquiries

Business Failure
Consumer Debt


A sampling of her detailed bankruptcy research work:

Warren, Elizabeth. "Vanishing Trials: The Bankruptcy Experience," 1 Journal of Empirical Studies 913 (2004).

Warren, Elizabeth & Jay Lawrence Westbrook. "Go Directly to Jail; Do Not Collect $200," American Bankruptcy Institute Journal, December 2003, at 234.
Full text: WWW

Warren, Elizabeth & Jay Lawrence Westbrook. "Court-to-Court Negotiation," American Bankruptcy Institute Journal, November 2003, at 204.

Warren, Elizabeth & Jay Lawrence Westbrook. "Secured Party in Possession," American Bankruptcy Institute Journal, September 2003, at 150.

Warren, Elizabeth & Jay Lawrence Westbrook. "Regulators in the Bankruptcy Arena: Who Has the Power?" American Bankruptcy Institute Journal, July 2003, at 131.

Warren, Elizabeth & Jay Lawrence Westbrook. "Settling into Bankruptcy," American Bankruptcy Institute Journal, May 2003, at 85.
Full text: WWW

Warren, Elizabeth & Jay Lawrence Westbrook. "Class Actions for Post-Petition Wrongs: National Relief against National Creditors," American Bankruptcy Institute Journal, March 2003, at 23.

Warren, Elizabeth. "Financial Collapse and Class Status: Who Goes Bankrupt? (Lewtas Lecture)," 41 Osgoode Hall Law Review 115 (2003).
Full text: HEIN (Harvard Users) || HEIN || LEXIS || SSRN (Harvard Users) || SSRN || WESTLAW


A favorite book of our family and Elizabeth Warren's most famous book is "The Two Income Trap: Why Middle-Class Parents are Going Broke"

This new political climate never ceases to amaze me and many of my favorite people win office like President Obama and Elizabeth Warren.

WOW. Just WOW!

8:14 AM PT:

Heartbreaking. Here is the real Elizabeth Warren discussing her latest study on Bankruptcy.  I know the GOP doesn't have a politician who cares about people like this.

An amazing compassionate woman!

9:15 AM PT: Reactions:

It's a sad day on Wall Street: Elizabeth Warren, the financial industry's least-favorite senator-elect, has been assured a seat on the Senate's powerful Banking Committee..

After my piece on Wall Street's worries about Warren ran last week, I got a call from a senior banking industry lobbyist, who contended that Warren herself wasn't planning to come into the Senate and immediately begin pushing an anti-bank agenda. Her more likely tactic, he said, would be to slow-play the situation, quietly amassing power and influence among fellow senators at first and then going after the banks once a coalition had been established.

"She realizes that if she appears to be a caricature of herself, she won’t be super-relevant in the Senate," the lobbyist said.

Whether or not that's true, the issue of Senator-elect Warren's relevance has already been established. Now, with a seat on the Banking Committee, all she has to decide is how to use her new power.


9:18 AM PT:
Wall Street, get your Pepto Bismol ready, here comes Senator Elizabeth Warren. The consummate consumer advocate who will be in a position to influence regulators and financial institutions will now be in a better position to drive the GOP crazy, too.

9:21 AM PT:
After Warren won a Senate seat by defeating Massachusetts Republican incumbent Scott Brown, rumors circled that the banking industry was lobbying Democratic leadership to keep Warren off the panel, but industry officials dismissed that as spin and speculation.

“The committee perch gives her a microphone, but she has a microphone anyway,” one industry official said. “Nobody I’ve heard of is taking any steps to use whatever little capital they have with Senate leadership to keep her off — nobody I’ve heard of.”

Read more: http://www.politico.com/...

9:24 AM PT:
From Slate:

Warren helped set up the consumer protection bureau, but ultimately was blocked from leading it by banking lobbyists and their Republican allies in the Senate. Warren responded by waging a successful run for Senate in Massachusetts, bringing an end to moderate GOP Sen. Scott Brown's time in the upper chamber. She'll now have a front-row seat on a panel that has the power to call Wall Street bankers and other execs to testify before Congress.

AGREED. LOL. Maybe they should have just let her have the job she originally wanted. *


9:27 AM PT:
From The Atlantic:

Elizabeth Warren Finally Gets Her Shot to Fight Wall Street, Head-on

After making her name defending the little guy from the greedy clutches of Wall Street's worst villains, Elizabeth Warren will finally have the chance to grill the country's top bankers face-to-face. The new Senator-elect from Massachusetts will get a seat on the Senate Banking Committee after all...


9:32 AM PT:
From Street Insider:

Big Banks on Death Watch as Elizabeth Warren Said to Get a Seat on Senate Banking Committee.

Traders have their eye on banking stocks amid news that mortal bank enemy Elizabeth

Note: Below story on subscription basis only. Just liked the headline:


9:39 AM PT:


Video of exploding heads on Wall Street

11:06 AM PT:
From iBankCoin Financial News:

Banks Fret as Elizabeth Warren is Picked to Be on the Senate Banking Committee

 Nearly two years after Wall Street waged a successful campaign to keep consumer advocate Elizabeth Warren from running the Consumer Financial Protection Bureau, the incoming senator will be tapped to serve on the Banking Committee, according to four sources familiar with the situation. It’s a victory for progressives who battled to win her a seat on the panel that oversees the implementation of Dodd-Frank and other banking regulations.


11:13 AM PT:

Uh Oh: Reactions on Wall Street on Twitter to Appointment of ... on Twitpic

"Uh Oh" and "You've got to be kidding me!"  : Reactions on Wall Street on Twitter to Appointment of Elizabeth Warren to Senate Banking

5:11 PM PT: "The Freepers Respond To The Possibility That Elizabeth Warren Will Be On The Banking Committee" from Democratic Underground (All the Right Wing can do is call people disgusting, sexist names.  I feel dirty just reading their outrageous comments Yuck! I need a bath.)


RW reaction: Goes to show you that ignorance has no bounds.

5:19 PM PT:
From The American Prospect:

This victory for progressives is huge. It means that Senate Majority Leader Harry Reid—who makes the committee selection, later ratified by the Democratic caucus—did not cave to pressure from either the financial lobby or from Senate Banking Committee Chairman, Tim Johnson of South Dakota, who is effectively part of that lobby. (South Dakota gutted its usury laws decades ago to make the state hospitable to the back office operations of the biggest banks.)

It isn’t just that Warren is a resolute progressive. It’s that she knows so much about the financial industry, from her years as chair of the Congressional Oversight Panel for the TARP, and before that as one of the leading scholars of bankruptcy and consumer abuses. And it’s that she’s incorruptible, as well as very smart.


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