Drums Beating to Privatize Social Security


The Real News Network has the article Drums Beating to Privatize Social Security where you can see the transcript and the following video:


JAY: Okay. I got a question for you. As a financial regulator, how did you feel about the election of Elizabeth Warren? And number two, if Elizabeth Warren lives up to the hopes and expectations that have been placed in her as someone that’s actually serious about financial regulation, what can one senator do? And two, if she does do something, doesn’t that put her at odds with the Obama administration?

BLACK: So I was thrilled. I was certainly a personal supporter. And our family, you know, sent a small contribution to her, in terms of full disclosure during this discussion.

She’s already an opponent, as perceived by the Obama administration. I mean, I don’t think it works the other way around. In other words, I don’t think that Elizabeth Warren ever saw herself as an opponent of the administration, as opposed to a proponent of the American people, but the administration hated Elizabeth Warren at times, or at least important aspects of it did—Timothy Geithner and such in Treasury.

And, you know, we talked about Erskine Bowles. One of the rumors is that Erskine Bowles will replace Timothy Geithner as Treasury secretary. So you may have an immediate conflict there.

What can one senator do? Well, one senator can’t do much, especially a junior senator. The tradition of spending your first year saying nothing in the Senate, which was a very long tradition, is somewhat broken, but it’s still going to be difficult to accomplish much. Look for what committee assignments she’s given. You know, is she put on things like the judiciary committee and such? Will she have an opportunity to engage in her famous intensive questioning of the regulators and the prosecutors who are refusing to prosecute the elite frauds? These are the near-term things that you want to look for especially.

If Scott Brown could become the ranking member of the Senate Armed Services Committe (at least in his own mind) in two years, imagine what a Senator who is actually intelligent might be able to do in reality.

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