A Must-Read For All Consumers

It’s hard to choose which insight to quote from James Surowiecki’s latest The Financial Page piece, “The Warren Court” in The New Yorker. He explains why Elizabeth Warren is at once the most popular and most hated person in Washington.

If you do not know of Surowiecki’s bi-weekly single page column about business, you are missing of the best, sharpest and most readable of business writers. He does his homework and plays no favorites. And he knows how to write. In this instance he provides valuable background on why there is a growing battle about Elizabeth Warren’s possible appointment as head of the Consumer Financial Protection Bureau, i.e., who is for her and who is against her.

Nomination of Elizabeth Warren as chief of the CFPB is not just another presidential appointment. If President Obama chooses and fights for her, win or lose, the outcome will affect consumer protection in fundamental ways—and maybe the 2012 election.

Surowiecki’s conclusion gets to the heart of the matter:

History suggests that business doesn’t always know what’s good for it. And, at a time when Americans profoundly distrust the financial industry, a Warren-led C.F.P.B. could turn out to be the friend that the banks never knew they needed. (Page 48, James Surowiecki, The Financial Page, The New Yorker for June 13 &20.)

The whole article can be read online. Reading time: 3 minutes.

Note: Use the Consumerist Resources navigation button above to find more about Surowiecki and other columnists with helpful insights into corporate behavior.


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