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Right Can't Stand 'Cranky' TARP Overseer

Liberals love Warren, but financial industry sees an activist

By Kevin Spak,  Newser Staff

Posted Apr 20, 2009 9:55 AM CDT

(Newser) – Dr. Phil, Jon Stewart, and liberals everywhere may love her, but Elizabeth Warren is causing an uproar in Washington, Politico reports. Conservatives and financial service lobbyists say the Harvard professor is using her post atop the TARP oversight committee to push an anti-industry agenda, exploring liberal approaches like nationalization and bank liquidation. “People wonder if this is the new Warren commission or the congressional oversight panel,” said one American Bankers Association executive.

Even some Democrats privately worry that Warren’s doom-and-gloom pronouncements—she’s fond of harping on uncomfortable numbers, like the $4 trillion that’s been spent on rescues so far—are hurting confidence. But Warren, a non-politician and self-proclaimed “outsider’s outsider,” doesn’t mind ruffling feathers. “The role of congressional oversight is to ask the tough questions,” she says. “It’s our job to be cranky.”

Elizabeth Warren, who chairs an oversight committee set up by Congress to oversee the bailout, is interviewed by the Associated Press in Washington, Thursday, Dec. 18, 2008.
Elizabeth Warren, who chairs an oversight committee set up by Congress to oversee the bailout, is interviewed by the Associated Press in Washington, Thursday, Dec. 18, 2008.   (AP Photo/Charles Dharapak)
Gene Dodaro , of the Government Accountability Office, TARP Inspector Neil Barofsky, and Elizabeth Warren , TARP Oversight Panel chair, testify before Congress in this file photo.
Gene Dodaro , of the Government Accountability Office, TARP Inspector Neil Barofsky, and Elizabeth Warren , TARP Oversight Panel chair, testify before Congress in this file photo.   (AP Photo/Susan Walsh)
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Jon Stewart interviews Elizabeth Warren (Part 1).   (hulu.com)
Jon Stewart interviews Elizabeth Warren (Part 2).   (hulu.com)

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COMMENTS
Showing 3 of 7 comments
Snowleopard
Apr 20, 2009 9:56 AM CDT
too bad even some people on the right like linsey graham and alan greenspan (party of ayn rand's inner circle) are also calling for bank nationalization.
mockingbird
Apr 20, 2009 4:47 AM CDT
I think that's the first time I've heard Dr. Phil referred to as "liberal"...
Mad
Apr 20, 2009 4:36 AM CDT
"Congressional oversight panel"??? Republicans have never heard of such a thing. After all the republican controlled Congress issued over 1,000 subpoenas of the Clinton WH and only SIX on the Bush WH. To republicans 'oversight' is a tool used only to punish

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