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Forum Post: The Scholars Who Shill for Wall Street

Posted 5 months ago on Oct. 26, 2013, 5:56 p.m. EST by GirlFriday (21785)
This content is user submitted and not an official statement

The Nation has a great article written by Lee Fang. Naming names of the two dollar whores.

Professor Todd Zywicki is vying to be the toughest critic of the Consumer Financial Protection Bureau, the new agency set up by the landmark Dodd-Frank financial reform law to monitor predatory lending practices. In research papers and speeches, Zywicki not only routinely slams the CFPB’s attempts to regulate bank overdraft fees and payday lenders; he depicts the agency as a “parochial” bureaucracy that is “guaranteed to run off the rails.” He has also become one of the leading detractors of the CFPB’s primary architect, Elizabeth Warren, questioning her seminal research on medical bankruptcies and slamming her for once claiming Native American heritage to gain “an edge in hiring.”

What isn’t contained in Zywicki’s university profile, CV, byline or congressional testimony is the law professor’s other job: he is a director of the Global Economics Group, a consulting business that boasts in a brochure that its experts have been hired by industry to influence the CFPB and other regulatory agencies. Nor does Zywicki advertise Global’s client list, which includes some of the biggest names in the financial industry, among them Visa, Bank of America and Citigroup.

Last summer, Zywicki’s firm was retained for $500 an hour on behalf of Morgan Drexen, a debt-relief company accused by the CFPB of deceiving consumers and charging illegal upfront fees. None of these potential conflicts of interest, however, have been disclosed during the course of Zywicki’s anti-CFPB advocacy in the media or in government.

Read the rest here

And read the comments, too.

5 Comments

5 Comments


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[-] 1 points by ZenDog (20617) from South Burlington, VT 5 months ago

See, this is exactly the kind of thing I mean.

At one time false advertising was illegal. Ideas in an information age are a product. Someone selling an idea is selling a product and as such must provide a quality assurance, that what they are selling is free from fraud.

In other areas of the social infrastructure, where there is a significant defect, the only solution is for people to die, thus providing social impetus to create the necessary change. Most often such flaws in the social fabric are the result of either ignorance or carelessness, rarely are they deliberate. One of the most common are highway intersections and bridges.

Often a road will follow close beside a large brook before bending sharply to cross using a bridge - it's the result of topography and patterns of human traffic that predate the automobile. These result in dangerous approaches to the bridge itself, especially in bad weather.

Many people die before such parts of the infrastructure are redesigned.

What we have here is quite different. This is a design flaw of some considerable deliberation, It is one that will be justified on the basis of free speech and the concept of corporate industry in possession of tongues, already affirmed by the highest court in the land despite the absurdity of the premise will and is an integral part of that defense of behavior that is nothing other than fraud.

This is deliberation in the interest of profit. It is a cancer in our social makeup. Unlike the dangerous bridge approach, this is a flaw within our culture that will be vigorously defended. Because it will be vigorously defended, because significant elements of that defense have already passed scrutiny of the highest court in the land, the human sacrifice that will be required to set the matter straight must be significant, and substantial.

An absence of massive numbers of people on the street, protesting every single day, identifying those who profit from this kind of fraudulent behavior and pelting them with rotten tomatoes, rotten eggs, and so on; waiting on the street for them when they wake in the morning, screaming at them as they go to bed at night, and thus propelling a change in the social structure,

dictates that the only other method by which the social structure may arrive at a just and equitable arrangement is with another kind of human sacrifice.

.

In an absence of Justice the people must rise up and take matters into their own hands.

[-] 0 points by oktoberchill (-3) 5 months ago

Conflicts of interest abound inside the beltway and outside to wall st

[-] 0 points by oktoberchill (-3) 5 months ago

Huh?

[-] 2 points by ZenDog (20617) from South Burlington, VT 5 months ago

She just called you a shill - or rather, you called yourself a shill, it's in your name, and she suggested that you should go read something. It's on the web page of the link. You probably didn't click. You must be nervous.