“I’m suspending our campaign for president,” Elizabeth Warren told staffers Thursday. “What we have done – and the ideas we have launched into the world, the way we have fought this fight, the relationships we have built – will carry through, carry through for the rest of this election, and the one after that, and the one after that.”
The Massachusetts Democrat got a boost after attacking Michal Bloomberg for his comments on “fat broads and horse-faced lesbians,” but on Super Tuesday Warren failed even to carry her own state. As some voters doubtless noted, there is not enough money in the known universe for the ideas Warren “launched into the world.” On the other hand, Warren was consistently shrill, and voters had a strong case that she should not have been in the race at all.
Elizabeth Warren built her professional life on the claim that she was of Cherokee ancestry, a genuine Native American. Back in 2012, The Atlantic and Washington Post, among others, disproved Warren’s claim, but that prompted no departure from public life.
In Warren’s 2014 A Fighting Chance, the Democrat still maintained that she was of Native American background. Reporters found older examples of her Cherokee fakery, but Warren never considered demonstrable fraud a barrier to public office, including the presidency of the United States. The wealthy attorney also billed herself an economic expert but her narrative raises doubts.
Nobody in this country “got rich on his own,” she explained in A Fighting Chance. Rather, “you moved goods on the roads the rest of us paid for” and used workers “the rest of us paid to educate.” You were safe in your factory “because of police and fire forces the rest of us paid for.” And so on, the same Big Brother view as POTUS 44.
He deployed forces in the DOJ and FBI to clear his chosen successor Hillary Clinton, and attack candidate and President Donald Trump. In similar style, Sen. Warren was laying groundwork for Democrats, particularly herself, with the Consumer Financial Protection Bureau. As Judicial Fortitude author Peter J. Wallison notes, the CFPB is “the brainchild of Sen. Elizabeth Warren,” and that makes a case for closer examination.
As Wallison notes, the CFPB was given plenary authority to enforce all federal laws that apply to financial transactions with consumers, and more. CFPB power was “broadened beyond existing laws” to take enforcement action on any action it finds “unfair, deceptive, or abusive.” Since “abusive” is not defined, this served up “a vast field for the agency to define and pursue.” Wallison finds this a “dangerous step in support of an even more powerful and uncontrolled administrative state.”
The CFPB director gets a five-year term fully protected from removal by the president other than for “inefficiency, neglect of duty, or malfeasance.” This places the director outside the control of the president, “whose ability to pursue the policies he was elected to implement depends crucially on the ability to remove and replace the senior officials of executive agencies.” And it gets worse.
The CFPB gets funding from the Federal Reserve, and the money comes at the request of CFPB director. And under the enabling Dodd-Frank legislation, the Fed has “no ability to affect the agency’s actions.” So Warren’s CFPB is beyond the control of Congress, and if the Supreme Court upholds the status quo, “it would be possible for Congress to create other agencies that are beyond the control of any elected body.”
CFPB power is being contested in Seila Law v. Consumer Financial Protection Bureau, and on March 3, the U.S. Supreme Court began hearing arguments in the case. Elizabeth Warren has dropped out, but her CFPB could serve any Democrat, particularly the surging Bernie Sanders, as a tool to gain government control over the economy.
As Milton Friedman observed, government agencies are easy to start but practically impossible to abolish. President Trump should aim to abolish the CFPB, and that would shore up his support among those who advocate smaller and more accountable government.
Meanwhile for Amy Klobuchar, Warren was a friend who “knows how to dream big and fight hard.” Julian Castro endorsed her as “the best person for the job and a “relentless fighter,” with a “hopeful and courageous vision.” Though out of the race, Warren stands as testament to the dictatorship of the subjunctive mood.
Under this regime of unreality, a politician can make up any outlandish story and people are supposed to ignore all contrary evidence and simply “believe.” For example, people are supposed to believe that Elizabeth Warren, paler than Frosty the Snowman, was the first “woman of color” on the Harvard faculty. When outright fraud is exposed, the dictatorship of the subjunctive mood imposes no penalty.
Asked Thursday if she would endorse Joe Biden or Bernie Sanders, Warren told reporters, “Not today, I want to take a little time to think a little more.”
Recent dropouts Amy Klobuchar, Pete Buttigieg, and Michael Bloomberg have all endorsed Joe Biden.