Birthname | Elizabeth Herring |
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Office | Special Advisor for the United States Consumer Financial Protection Bureau |
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President | Barack Obama |
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Term start | September 17, 2010 |
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Term end | August 1, 2011 |
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Successor | Raj Date |
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Office2 | 1st Chairman of the Congressional Oversight Panel |
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Term start2 | November 25, 2008 |
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Term end2 | November 15, 2010 |
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Deputy2 | Damon Silvers |
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Successor2 | Ted Kaufman |
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Appointer2 | Harry Reid |
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Order3 | Leo Gottlieb Professor of Law, Harvard Law School |
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Term start3 | 1995 |
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birth date | June 22, 1949 |
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birth place | Oklahoma City, Oklahoma, USA |
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residence | Cambridge, Massachusetts, USA |
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alma mater | University of Houston, Rutgers School of Law—Newark |
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spouse | Bruce Mann |
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children | Amelia Warren Tyagi, Alexander Warren |
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profession | Lawyer, Law school professor, Appointed official |
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religion | Methodist, fmr. Sunday School teacher |
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website | Harvard Law, Elizabeth for MA Exploratory Committee
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Elizabeth Warren (born Elizabeth Herring; June 22, 1949) is an American attorney and law professor. She served as Assistant to the President and Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau. She is also the Leo Gottlieb Professor of Law at Harvard Law School, where she has taught contract law, bankruptcy, and commercial law. In the wake of the 2008-2011 financial crisis, she became the chair of the Congressional Oversight Panel created to oversee the U.S. banking bailout (formally known as the Troubled Assets Relief Program). She long advocated for the creation of a new Consumer Financial Protection Bureau, which was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law by President Barack Obama on July 21, 2010. As the special advisor she worked on implementation of the CFPB.
On May 24, 2010, ''Time'' magazine called Warren, Federal Deposit Insurance Corporation Chairman Sheila Bair, and Securities and Exchange Commission Chairman Mary Schapiro the "New Sheriffs of Wall Street" in a cover story. On September 17, 2010, she was named a special adviser by President Obama to oversee the development of the new Consumer Financial Protection Bureau. The position included the responsibility of recommending a director for this new entity. She was not chosen for the post, with Obama instead nominating Richard Cordray, prior to congressional approval. On August 18, 2011, she launched an exploratory committee for the Massachusetts United States Senate seat currently held by Scott Brown.
Personal life
Elizabeth Warren was born
Elizabeth Herring in
Oklahoma City, the daughter of Pauline and Donald Herring. At 16, she became a state champion debater. At 19, she married Jim Warren, and transferred from
George Washington University to the
University of Houston. She earned a B.S. in 1970. Warren went on to study law at the
Rutgers School of Law–Newark, where she served as an editor of the
Rutgers Law Review, and was one of two female summer associates at
Cadwalader, Wickersham & Taft's Wall Street office. She received her Juris Doctor in 1976. After law school, Warren worked from home, writing wills and doing real estate closings for walk-in clients. She divorced Warren in 1978, and later married
Bruce Mann.
She joined Harvard Law School in 1992 as the Robert Braucher Visiting Professor of Commercial Law. Prior to Harvard, she was the William A. Schnader Professor of Commercial Law at University of Pennsylvania School of Law and also taught at the University of Texas School of Law, University of Houston Law Center, University of Michigan and Rutgers School of Law—Newark.
From 2005-2008, Warren and her law students wrote a blog called Warren Reports, part of Josh Marshall's TPMCafe.
Warren appeared in the documentary film ''Maxed Out'' in 2006, has appeared several times on ''Dr. Phil'' to talk about money and families, has been a guest on ''The Daily Show'', is interviewed frequently on cable news networks, appears in Michael Moore's ''Capitalism: A Love Story'', has appeared on the ''Charlie Rose'' talk show, and has appeared on the ''Real Time With Bill Maher'' talk show. She has also appeared on the PBS show ''NOW''.
Warren is a member of the FDIC's Committee on Economic Inclusion and the Executive Council of the National Bankruptcy Conference. She is the former Vice-President of the American Law Institute and a member of the American Academy of Arts and Sciences. She served as the Chief Adviser to the National Bankruptcy Review Commission.
Warren is married to Bruce Mann, a legal historian and law professor also at Harvard Law School. She has a daughter, Amelia Warren Tyagi, with whom she has coauthored two books and several articles, and a son, Alexander Warren. She has taught Sunday School and cites Methodist founder John Wesley as an inspiration.
Popular works
In addition to writing more than 100 scholarly articles and six academic books, Warren has written several best-selling books, including ''All Your Worth: The Ultimate Lifetime Money Plan'' (ISBN 978-0-7432-6988-9), coauthored with her daughter, Amelia Tyagi.
Warren is also the co-author (with Tyagi) of ''The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke'' (Basic, 2003) (ISBN 978-0-465-09090-7). Warren and Tyagi point out that a fully employed worker today earns less inflation-adjusted income than a fully employed worker did 30 years ago. To increase their income, families have sent a second parent into the workforce. Although families spend less today on clothing, appliances, and other consumption, the costs of core expenses like mortgages, health care, transportation, child care, and taxes have increased dramatically. The result is that, even with two income earners, families no longer save and have incurred greater and greater debt.
In an article in the ''New York Times'', Jeff Madrick said of Warren's book:
}}
In an article in ''Time'' magazine by Maryanna Murray Buechner, "Parent Trap" (subtitled "Want to go bust? Have a kid. Educate same. Why the middle class never had it so bad"), Buechner said of Warren's book:
}}
In 2005, Dr. David Himmelstein and Warren published a study on bankruptcy and medical bills, which claimed that half of all families filing for bankruptcy did so in the aftermath of a serious medical problem. The finding was particularly noteworthy because 75% of those who fit that description had medical insurance. This study was widely cited in academic studies and policy debates, though some have questioned the study's methods and offered alternative interpretations of the data.
TARP oversight
On November 14, 2008, Warren was appointed by
United States Senate Majority Leader Harry Reid to chair the five-member
Congressional Oversight Panel created to oversee the implementation of the
Emergency Economic Stabilization Act. The Panel releases monthly oversight reports that evaluate the government bailout and related programs.
The Panel's monthly reports under Warren's leadership covered foreclosure mitigation, consumer and small business lending, commercial real estate, AIG, bank stress tests, the impact of TARP on the financial markets, government guarantees, the automotive industry, and many other topics. The Panel has also released special reports on financial regulatory reform and farm loans. For each report, Warren released a video on the Congressional Oversight Panel's website explaining key findings. All reports and videos are available at cop.senate.gov.
In her role as Chair of the Panel, Warren testified many times before House and Senate committees on financial issues.
In an interview at Newsweek, December 7, 2009, titled "Reining in, and Reigning Over, Wall Street" Elizabeth Warren was asked: "''Congress is trying to reform financial regulation, and it can get a little abstract. Where should people focus?''"
She responded:
On July 29, 2011, she left her role with the agency to return to academic life at Harvard Law School. Her departing address indicated how she first became involved:
}}
United States Senate election in Massachusetts, 2012
Warren set up an
exploratory committee to challenge
Scott Brown in his reelection bid for
United States Senate.
Recognition
Warren was named one of ''
Time Magazine'''s
100 Most Influential People in the World in 2009 and 2010.
In December 2009, the ''Boston Globe'' named Warren the Bostonian of the Year.
The ''National Law Journal'' has repeatedly named her as one of the fifty most influential female lawyers, and she has been recognized for her work by ''SmartMoney'' magazine, ''Money magazine'', and Law Dragon.
In 2009, the Women's Bar Association of Massachusetts honored her with the Lelia J. Robinson Award.
Warren has been recognized for her dynamic teaching style. In 2009, Warren became the first professor in Harvard's history to win the law school's teaching award twice. The Sacks-Freund Teaching Award was voted on by the graduating class in honor of "her teaching ability, openness to student concerns, and contributions to student life at Harvard." Warren also has won awards from her students at the University of Pennsylvania, the University of Michigan, and the University of Houston Law Center.
On August 13, 2010, a rap video by the Main Street Brigade was put on YouTube in an effort to encourage President Obama to nominate Elizabeth Warren as the first director of the Consumer Financial Protection Bureau.
On May 27, 2011, Warren delivered the commencement address for the graduating class of 2011 at the Rutgers School of Law - Newark. She was awarded an Honorary Doctor of Laws degree and was conferred membership into the Order of the Coif.
Publications
;Selected articles
'Bankruptcy Policy' (1987) 54(3) The University of Chicago Law Review 775-814
'The Untenable Case for Repeal of Chapter 11' (1992) 102(2) The Yale Law Journal 437-479 73
'Bankruptcy Policymaking in an Imperfect World (1993) 92(2) Michigan Law Review 336-387
'The Bankruptcy Crisis' (1997–1998) 73 Indiana Law Journal 1079
'Principled Approach to Consumer Bankruptcy' (1997) 71 American Bankruptcy Law Journal 483
'Financial Characteristics of Businesses in Bankruptcy' (1999) Am. Bankr. L.J. 499 (with JL Westbrook)
'Illness and Injury as Contributors to Bankruptcy' (2005) SSRN (with DU Himmelstein, D Thorne and SJ Woolhandler)
'The Success of Chapter 11: A Challenge to the Critics' (2009) 107 Michigan Law Review 603 (with JL Westbrook)
'Medical Bankruptcy in the United States, 2007: Results of a National Study,' (2008) American Journal of Medicine (with DU Himmelstein, D Thorne and SJ Woolhandler)
;Books
Notes
External links
Elizabeth Warren at Harvard Law School
*Bibliography
Elizabeth for MA Exploratory Committee website
Elizabeth Warren collected news and commentary at ''Salon.com''
;Interviews and articles
Generation, Gap, and interview with Elizabeth Warrn in ''Guernica Magazine''
Elizabeth Warren: a tough sheriff in finance's Wild West, ''The Daily Telegraph''
Warren Winning Means You Won't Sell It If You Can't Explain It, Bloomberg
In fight over credit rules, she wields a plan, ''Boston Globe''
The TARP Queen: Why we should all bow before Elizabeth Warren (even if you've never heard of her), Slate
Bank Buster, Mother Jones
The Debt Crusader: Inspired by Dr. Phil, Harvard's Elizabeth Warren has gone to D.C. to change the way America borrows, Newsweek
Elizabeth Warren on the Economy, NOW on PBS
Video: Elizabeth Warren, New Yorker, Nov. 16, 2009
Interview with Yahoo! Finance, Oct. 16, 2009
Voices of Power Video: Elizabeth Warren, Washington Post, Oct. 8, 2009
Interview with Elizabeth Warren from Frontline
Elizabeth Warren on NPR link to full interview for show of 2009-05-08
UCTV programs with Elizabeth Warren
*The Coming Collapse of the Middle Class: Higher Risks, Lower Rewards, and a Shrinking Safety Net
*Conversations with History: Law, Politics, and the Coming Collapse of the Middle Class with Elizabeth Warren
Warren Reports at TPM Cafe
Warren says Consumer Financial Protection Bureau is Obama’s "Strongest Financial Reform" - video report by ''Democracy Now!''
Category:1949 births
Category:Living people
Category:American academics
Category:American Methodists
Category:American economics writers
Category:American female lawyers
Category:American finance and investment writers
Category:Harvard Law School faculty
Category:Obama Administration personnel
Category:People from Oklahoma City, Oklahoma
Category:Rutgers School of Law–Newark alumni
Category:University of Houston alumni
Category:University of Michigan faculty
Category:University of Pennsylvania faculty
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