Michele Bachmann, Elizabeth Warren and Populism

After David Brat beat Eric Cantor in the Republican primary in Virginia, the New Yorker called him “the Elizabeth Warren of the right.” Michele Bachmann took that as the opportunity to dismiss Warren as a serious figure because she’s not a “populist.”

Disaffected voters, she said, will not be lured by Warren, whose warnings about a system that favors the wealthy and powerful overlap in significant ways with the more populist tea party critiques.

“I don’t see Elizabeth Warren as someone Republicans have to worry about, not at all. Elizabeth Warren, after all, was a major advocate of Dodd-Frank,” Bachmann said, referring to the 2010 Wall Street reform law that established the Consumer Financial Protection Bureau (CFPB), which Warren designed and lobbied for.

The 2010 law also aimed to reform the way Wall Street is regulated — but not in Bachmann’s telling.

“Dodd-Frank is the biggest insider legislation giveaway that there’s ever been,” Bachmann said, speaking to HuffPost in the Capitol. “If any one is aligned with elites, it’s Elizabeth Warren. She is in no way reflective of where the average American is, because what she did through Dodd-Frank was institutionalize bailouts for the major investment banks forever. That’s what she did. So now the taxpayers are on the hook for who? The Goldman Sachs of the world? I mean, really? So that’s what she’s behind, so she is in no way a populist. Her views are among what the American people are rejecting.”

Don’t you love how every politician pretends that the American people agree with them on everything? It’s especially amusing coming from Bachmann, whose first run for national office in 2012 resulted in her being so wildly unpopular that she withdrew from the race before a single vote was cast. And of course, Bachmann’s definition of populist is one who appeals to the most ignorant people, like she does.

She’s also absolutely wrong about Dodd-Frank, which Americans support by a nearly 4-1 margin.

"I think it's pretty obvious that Pence is already de facto president, has been since ..."

Looks Like Flynn Has Flipped on ..."
"No can do, er, bonobo. The only guarantee is that they are sinfully delicious. Even ..."

AL Cop: We Were Told to ..."
"Heeeey . . . that gives me a great idea!I'll put a cherry on top!Mmmmm! ..."

AL Cop: We Were Told to ..."
"Pure is for water and heroin. When it comes to women a lack of purity ..."

Pastor: Moore Liked Young Girls Because ..."

Browse Our Archives

Follow Us!


What Are Your Thoughts?leave a comment
  • dingojack

    I’m sure Michelle’s got the best* people ‘unskewing’ the polls, even as I type….

    @@

    Dingo

    ——–

    * and by ‘best’ I mean, of course, the most moronically, myopically partisan hacks that money can scape from the barrel’s bottom..

  • Reginald Selkirk

    She’s also absolutely wrong about Dodd-Frank, which Americans support by a nearly 4-1 margin.

    I support it, but it doesn’t go far enough.

  • Jordan Genso

    Working in real estate, I’ve had several people tell me that the CFPB (which Elizabeth Warren helped create as part of Dodd-Frank) is a for-profit entity, but also a quasi-government entity, sort of like Fannie Mae and Freddie Mac. I’ve tried to find a clear source to confirm or refute such claims, but have had no luck. Is anyone here familiar with the CFPB and maybe able to shed a little light?

  • Chiroptera

    A populist usually tries advocate policies that actually help people.

    Someone who merely tries to obtain and hold power through eliciting hatred and fear among the people, like the current US right wing, is more accurately referred to as a demogogue.

  • colnago80

    Michelle Bachmann lacks sufficient intelligence to carry Elizabeth Warren’s briefcase.,

  • http://en.uncyclopedia.co/wiki/User:Modusoperandi Modusoperandi

    Now, look, everybody knows that Populists fight to maintain the Privilege of the Popular Majority, deregulate and cut the taxes of their Corporate betters, and cut programs and departments that benefit the Moochers while handing the tattered remains of counter-cyclical spending off to the states with few rules and no oversight. That’s just commons sense.

  • keithb

    Jordan:

    Do you consider the Federal Reserve “for profit”?

    http://en.wikipedia.org/wiki/Consumer_Financial_Protection_Bureau

    “The bureau is an independent unit located inside and funded by the United States Federal Reserve, with interim affiliation with the U.S. Treasury Department”

  • dingojack

    SLC – Michelle Bachmann lacks sufficient intelligence to be Elizabeth Warren’s briefcase.

    Dingo

  • parasiteboy

    what she did through Dodd-Frank was institutionalize bailouts for the major investment banks forever.

    Did Bachmann get this information from the same woman who said the HPV vaccine caused her daughters mental retardation?

  • D. C. Sessions

    SLC – Michelle Bachmann lacks sufficient intelligence to be Elizabeth Warren’s briefcase.

    Hardly surprising. After all, her briefcase has a Masters in Economics from Harvard.

  • http://www.pandasthumb.org Area Man

    Did Bachmann get this information from the same woman who said the HPV vaccine caused her daughters mental retardation?

    No, she got it from the 7 foot-tall doctor who told her that because of Obamacare, the IRS has to pre-approve medical treatments.

  • coffeehound

    Michelle Bachmann at CPAC,“Our movement at its core is an intellectual movement.”

    My favorite for quote of the year.

    But it’s amusing that a Republican is whining about populism which in their language must mean beating your chest and yelling about exceptionalism without doing anything for the people at large. No Michelle, she’s not that kind of populist.

  • Jordan Genso

    @7 keithb

    Thank you for pointing that out, and I had read that already, but I’m not clear on if it answers my question (if that only refers to where they get some of their funding, and not where the revenue the CFPB brings in ends up going).

    I was asking more about whether or not any investors benefit from them levying fines against companies. At a class about the changes to the mortgage industry from Dodd-Frank, the instructor referred to the CFPB as a “for-profit” entity, and when I asked the instructor about it, she said that the entity would profit from each time they fine a mortgage lender/real estate broker/etc. It made me curious if there really is a profit-motive to their actions, or is it similar to police officers giving out traffic tickets as a revenue generator for the department (with no individual actually benefiting).