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Your Complete Guide to Elizabeth Warren

Although I give feminists grief, my current favorite living person is a woman.  Her name is Elizabeth Warren, and you can judge her by her enemies.

She is going to receive a lot of power.  Because of that, people are muddying her.  They are lying about her.  Consider two of her most prominent enemies.  "We can know a woman not by her friends, but by her enemies."

Todd "Toad" Zywicki hates her, and he is going to write fraudulent editorials about her.  Let's look at whether Toad should be trusted.   Here is Toad, in his own words:

There has been much criticism lately about so-called "exotic mortgages" that are creating a "housing bubble".... Although often lumped together, the two are distinct. And I'm not sure I see what the problem is here. I want to focus on the supposed harm of exotic mortgages, especially interest-only mortgages (which are said to create the housing bubble by allowing people to borrow "too much" and forcing up home prices).

Isn't that cute?  Toad really said that.  Click through to the links.  This is all documented, and although Toad had no shame (no Wall Street toadie has any shame), we should remind everyone that Toad's world view has been discredited.  

Here is more from Toad:

This also suggests that the growth in subprime lending is not creating overwhelming debt burdens for low-income households.

That's so remarkably stupid that you might need to re-read it.  Again, those are his words.  Despite peddling such stupidity, the Wall Street Journal gives him a semi-regular column.  Whenever Wall Street's latest corruption needs defended, Toad is there.

Even more:

So social engineers may want to be careful about "saving" the poor from the scourge of subprime lending, because by restricting those choices they are likely just pushing them into even less-favorable credit options.

If you care about the Middle Class, then Toad is a great enemy to have.  Toad is a consistent Wall Street apologist, and he supported bankruptcy "reform" laws that have been universally noted to be harmful to consumers, and helpful to Wall Street.

Another prominent enemy is Megan McArdle.  McArdle is a spoiled brat who mooched off of her parents (her dad was a taxpayer leech) in between readings of Atlas Shrugged.  McArdle argued, to the ridicule of thinking people everywhere, that homeowners - but not banks - have an ethical duty to pay their debts.  

Again, I didn't make any of this up.  When J.P. Morgan walked away from its obligations on real estate, McArdle said, "Strictly business."  When Joe Sixpack walked away from his obligation on real estate, McArdle said he was immoral.  Why the double standard?  Why is it OK for a bank to default on its obligations?  McArdle would screw you over to help banks.  And so she, too, is a great enemy to have.

With enemies like Toad Zywicki and Megan McArdle, what more do you need to know about Elizabeth Warren?

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