Tag Archives: UC Berkely

The coming collapse of the American middle class: Higher risks, lower rewards, and a shrinking safety net

 

Distinguished law scholar Elizabeth Warren teaches contract law,  bankruptcy, and commercial law at Harvard Law School. She is an  outspoken critic of America’s credit economy, which she has linked to  the continuing rise in bankruptcy among the middle-class.  Series: “UC  Berkeley Graduate Council Lectures” [6/2007] [Public Affairs] [Business]  [Show ID: 12620]

Per Wikiepdia (here), Elizabeth Warren chaired the Congressional oversight of the 2008 U.S banking bailout, and led the conception and establishment of U.S Consumer Financial Protection Bureau. In July 2009, she left the Congressional oversight committee to pursue her academic role at Harvard Law School. The following quote sums up her work well:

Four years ago, I submitted an article to Democracy Journal that argued for a new government agency called the Financial Product Safety Commission. I threw myself into that piece because I felt strongly that a new consumer agency would make the credit markets work better for American families and strengthen the economic security of the middle class… I leave this agency, but not this fight… the issues we deal with – a middle class that has been squeezed and business models built on tricks and traps – are deeply personal to me, and they always will be.

I hope there were more people in Washington D.C with similar mentality and clarity.

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