The title of this article may be a shock to those supporters of Senator Elizabeth Warren. There is no doubt that she has engaged in some good initiatives like pushing for: transparency on the Trans-Pacific Partnership, calling out the too-big-to-fail banks, speaking out on student loan debt, and so on. But, one should not put that much trust in her. As I have written about on this blog numerous times and elsewhere, it is important to be critical of Elizabeth Warren, who I consider a capitalist reformer and not being as populist as it may seem from the surface. 
Recently, conservative media have been up and arms, saying that Warren is a hypocrite for supporting the Export-Import Bank, which has been nicknamed the ‘Boeing Bank’ or the ‘corporate welfare bank.’ Here is a sampling of the headlines from those media sites:
Elizabeth Warren’s, ahem, ‘Crony Capitalism.’ | RedState
Crony Corporatist: Elizabeth Warren and the Export-Import Bank| Lew Rockwell
Elizabeth Warren, Hypocrite, Supports Ex-Im Bank | againstcronycapitalism.org
Oh, look, phony populist Elizabeth Warren backs the Export-Import Bank’s brand of corporate welfare | unitedliberty.org
Elizabeth Warren Is Overrated: Why the progressive favorite is a downer| The Federalist
Elizabeth Warren, Hypocrite, Supports Ex-Im Bank| Reason.com
Elizabeth Warren Backs Corporate Welfare Bank| Town Hall
Now, what did Warren really say? What is the real story? Well, the quotes from Warren comes from an exchange reported on by Bloomberg News. Here’s that story, with bolded emphasis from me:
Every so often, the political spectrum in Washington bends to the point that erstwhile opponents find themselves walking in lockstep.
Last year, one of the House’s most outspoken Democrats, Arizona’s Raul Grijalva, agreed with Tea Party favorite Justin Amash on an amendment that would have restricted the National Security Agency’s spying powers. Tea Party groups and peaceniks both opposed U.S. intervention in Syria.
This week, Democrats such as Colorado’s Jared Polis teamed with Kentucky’s Thomas Massie and fellow libertarians to approve a House amendment that would let U.S. banks accept cash from marijuana businesses in states where pot is legal.
Could the dynamic repeat itself on the question of whether to renew the U.S. Export-Import Bank? Heritage Action of America thinks so.
The Tea Party-aligned group sent a letter today to Sen. Elizabeth Warren, a Massachusetts Democrat known for taking populist stands against corporate America, inviting her to speak about ending the lender “and the political favoritism it engenders.”
“We, like you, are frustrated with a political economy that benefits well-connected elites at the expense of all Americans,” Heritage Action Chief Executive Officer Michael Needham wrote. “Your presence will send a clear signal that you are going to fight the most pressing example of corporate welfare and cronyism pending before Congress right now.”
Alas, it doesn’t sound like the former Harvard law professor will be lecturing to Heritage audiences any time soon.
“Senator Warren believes that the Export-Import Bank helps create American jobs and spur economic growth, but recognizes that there is room for improvement in the bank’s operations,” Warren spokesman Lacey Rose tells us in an e-mail. “She looks forward to reviewing re-authorization legislation if and when it is introduced.”
This means that she supports the Export-Import Bank. While the Washington Examiner is a conservative publication, a recent article by one of their writers, Timothy B. Carney, makes a good point about her support of this bank:
“Democratic Sen. Elizabeth Warren loves to shoot barbs at Wall Street. She also enjoys forcing taxpayers to absorb Wall Street’s risks while the banks pocket the profits…The Export-Import Bank puts taxpayer money behind the loans Citibank and Goldman Sachs make to foreign companies and foreign governments buying U.S. goods. President Obama is a huge champion of Ex-Im. Wall Street LOVES Ex-Im. Conservative Republicans oppose Ex-Im. Elizabeth Warren apparently sides with Wall Street. At Ex-Im’s annual conference, one Wall Streeter described Ex-Im’s loan guarantees to me as “free money.” Is Elizabeth Warren really fine with free money to Wall Street?“
Apparently according to her campaign rhetoric, Warren is not fine with free money to Wall Street, but seemingly she picks and chooses her battles with Wall Street, which is troubling. The letter that Heritage Action, part of the Heritage Foundation, they posted it on their website and it seems to channel conservative populism. After Warren responded, they had a response that seems to attack crony capitalism and other top Democrats for supporting the bank (important parts are bolded):
“…Warren’s response is not quite what you would expect from someone who claims to be working “on the side of American families.” Especially when the corporate-welfare machine she is in support of “guarantees ‘free money,’ allowing [banks] to be more aggressive in financing exports because taxpayers serve as the backstop if a deal fails.” Warren is not the first on the so-called populist left to support the Export-Import Bank. Others [sic] liberal leaders in favor of reauthorization include former Secretary of State Hillary Clinton, Senate Majority Leader Harry Reid, and Senator Chuck Schumer. In response to her decision, Heritage Action has made sure that all of the followers of the self proclaimed “enemy of greedy corporations” see her position when it comes to actually fighting against corporate welfare…The expiration of the Export-Import Bank’s charter is approaching quickly. What can you do? Share this page with your friends and neighbors an spread the message about ending the Export-Import Bank and the culture of cronyism in Washington.”
They even created an ad criticizing for her support of the bank. Now, her support of this bank is only one issue of many. Recently, a reporter tried to ask Warren her view on Israel’s invasion of Gaza and she literally ran away:
Later on, she did not even let out peep (and neither did other ‘progressives’ like Bernie Sanders) when $225 million in new funding for Israel’s Iron Dome system was approved by unanimous consent (also see here). Hence, there is no record of a vote.This is not very surprising considering, in the words of Jeff Klein, she was persuaded to sponsor Senate Res. 65, which mandated “a new round of sanctions against Iran and promising to support Israel if it should choose to launch a unilateral war” in May 2013, joining the “unanimous vote in favor of the bill.” Furthermore, Kelin wrote that her vote, she he possible rationalized pragmatically means that her senate seat “is worth the price of a vote for AIPAC.”
This isn’t all. She has also been ok with a number of corporate-friendly nominations of the Obama administration, as she voted for:
- Sylvia Mathews Burwell, who previously was the president of the Wal-Mart Foundation, was president of the Global Development Program of the Bill and Melinda Gates Foundation, and was an aide to neoliberal Treasury Secretary Robert Robin for two years, for Secretary of Health and Human Services (see here)
- Sharon Y. Bowen, who was previously a partner at the corporate law firm, Latham & Wilkins, with her practice including “corporate, finance and securities transactions for large global corporations and financial institutions” for the commissioner of the CFTC [Commodity Futures Trading Commission] (see here)
- Stanley Fischer, who worked at the World Bank from 1988 to 1990 and the IMF from 1994 to 2001, after which he served as the Vice Chairman of Citigroup (2002-2005) for a seat on the Federal Reserve Board of Governors (see here)
- Robert A. “Bob” McDonald, was was a former CEO of Proctor & Gamble, for Secretary of Veterans Affairs, replacing Eric Shiniski who had worked for Honeywell International before he was Secretary (see here)
- Wanda Felton, who formerly worked for investment firms and was a director at Credit Suisse First Boston, to be First Vice President of the Export-Import Bank of the United States (see here)
- Catherine Ann Novelli, who was formerly a partner for Mayer, Brown, Rowe & Maw LLP “where she assisted Fortune 100 clients on issues involving international trade and investment,” to be the United States Alternate Governor of the International Bank for Reconstruction and Development (see here)
- Richard Stengel, who wrote for Time magazine and was its managing editor for years, to be an Under Secretary of State (see here)
- Max Baucus, a corporate-friendly senator who pushed through Obamacare, supported fast track, had a high business-friendly voting record as ranked by the US Chamber of Commerce, voted for the Iraq war, opposed single-payer healthcare, and voted for the Bush tax cuts in 2001, to be ambassador to China (see here)
- Mel Watt, a corporate-friendly senator as I noted here, to be the director of the Federal Housing Finance Agency (see here)
She could have or could have not voted for Maria Contreras-Sweet for SBA Administrator, who formerly served on Well Point, which defrauded black Florida voters in 2000, and the board of Blue Cross Blue Shield in California because it was a voice vote.Warren just happened to not vote for Janet Yellen, who has a pro-business record supporting business-friendly measures like Quantitative Easing and supports continuing to fork over tax dollars to the big banks, for chairman of the Federal Reserve. If that’s not enough, Warren also voted for a bill which imposed sanctions on Russia, or any person that is complicit in violence or corruption in Ukraine, and guaranteed economic assistance to Ukraine. For more, read the bill itself. Then there was Warren’s vote for Jeh Johnson (for Secretary of the DHS) who was not only a big donor to Obama in the past, but “an unapologetic supporter and enabler of President Obama’s policy of drone warfare,” saying that its fine if US citizens are targeted by drone strikes. Oh yeah, and Johnson was outspoken in saying that Edward Snowden and Chelsea Manning should be criminally prosecuted.
The positions of Warren don’t get any better. While she, along with Tom Coburn, have a “bipartisan proposal…to increase transparency around settlements reached by federal enforcement agencies,” there is nothing I can find of her rejecting the recent settlement and calling for prosecutions of those responsible. In March 2013, in the news section of Warren’s website was an article talking about an event “attended by about 200 Massachusetts small businesses at the Reggie Lewis Track and Athletic Center” which featured “25 government agencies and prime contractors – including the U.S. Army Corps of Engineers, the U.S. Environmental Protection Agency and U.S. Department of Transportation…Raytheon, BAE Systems and Booz Allen Hamilton” so that businesses “had the opportunity to sit down one-on-one with agency representatives and contractors to learn about possible contracts in the region.” To me, this sounds like she supports the production of “some jobs” by the military-industrial-complex, the permanent war economy, not even questioning this at all. Warren seemed to promote this in the month preceeding it as noted here, here, and here. The biggest news I found was a national security speech she made in February of this year. In that speech, as reprinted in the Huffington Post, part of which I’ll quote below (I bolded a number of important parts):
…It’s been thirteen years since the events of September 11, 2001…For thirteen years, we have lived through the repercussions of that terrible day. Now, the first chapter in our nation’s post-9/11 history is coming to an end. We are out of Iraq and the drawdown in Afghanistan is underway. We are ending two wars, but this does not mean that we will withdraw from the world beyond our shores, or pretend that there are no threats to our safety and security. As we start a new chapter, we still live in an unstable and unpredictable world: a world with terrorists plotting to cause catastrophic destruction, a world with dictators and tyrants, a world with threats in cyberspace and from new technologies. We know that we must remain vigilant and engaged abroad, taking steps to defend our allies and to protect our people. But as these two wars come to an end, we also have an opportunity to think about what we can learn from the last decade of conflict. There are many questions worth asking about how to make sure our actions advance our national interests…Today, I want to focus on a related question about how we advance our national interests – a question that is discussed less often than many of the others, but one that I think deserves our attention. How should we think about civilian casualties and their effect on our strategic decisions?…
Civilian casualties are an inevitable and unavoidable consequence of war, and modern conflict has made it more difficult to know who is innocent. We can’t always distinguish between civilians and combatants..Seriously addressing the issue of civilian casualties is essential to upholding our values at home and advancing our interests overseas. Our military is the most professional and honorable fighting force in the world, and I know first-hand how creative and tough our armed forces are...We take pride in the way that our servicemembers conduct themselves, but some people assume that when the shooting starts, military law, domestic law, and international law are left behind. The reality is the opposite. Law is an integral part of American warfare. Our soldiers learn basic legal principles as part of their training.
Military lawyers are embedded into our fighting units, working alongside commanders to evaluate the legality of even the most sensitive decisions. We follow the law because our national values – and our national interests – demand it…the laws of war require us to consider not just expediency, but also humanity…General Stanley McChrystal, the former commander of our armed forces in Afghanistan, described this lesson a few years ago…McChrystal describes this dynamic with insurgents, but the same dynamic is at work with the collateral deaths of innocent civilians – and the same dynamic can apply during all kinds of military operations – Special Forces missions, counterterrorism operations, and efforts to train security forces. Over the past decade, in Iraq and in Afghanistan, military commanders increasingly tried to address this problem… The military increased its efforts to educate and train our soldiers and Marines on civilian protection. And leaders in the military started tracking the number of civilian casualties, so they could learn from the statistics and identify ways to lower civilian casualty rates…
As the conflicts in Iraq and Afghanistan progressed, our military leaders increasingly took seriously the costs of civilian casualties in military engagements, and they learned how important it is to prevent civilian casualties. But now it is time for the next question: when our country considers military interventions abroad – and especially when leaders publicly debate the costs and benefits of using force – do we factor in this same lesson? Do we fully consider the costs of civilian casualties?…Many policymakers in Washington seem hesitant to…acknowledge the reality that military commanders deal with every day, the reality that civilian casualties affect U.S. interests abroad. And when we debate the costs and benefits of intervention – when we discuss potential military action around the world – the talk about collateral damage and civilian casualties too often seems quiet. The failure to make civilian casualties a full and robust part of our national conversation over the use of force is dangerous…Our decision-making suffers – and our ability to effectively advance our interests suffers – when we do not grapple fully and honestly with all of the costs and benefits, all the risks, all the intended and unintended consequences of military action.
When our country considers military intervention, we must be hard-headed and clear-eyed…Unintended consequences can have a profound impact. Whatever our righteous intentions, the world does not hold us blameless when civilians die…We must begin by establishing training programs that directly address civilian casualties. The military has begun to put together educational and training materials based on experiences in Afghanistan and Iraq…Next, we need to improve our efforts to track civilian casualties during any military engagement…While secrecy – particularly as it relates to operational plans – is necessary in some cases, tracking casualties and making those data publicly available will help us make the best decisions here at home and demonstrate to the world that America takes civilian casualties seriously…Our enemies will do all that they can to shake our confidence and the confidence of the Afghan people. In turn, we must continue to demonstrate our resolve to the enemy. We will do so through our relentless pursuit of the Taliban and others who mean Afghanistan harm, through our compassion for the Afghan people, and through the example we provide to our Afghan partners…Our military leaders recognize that our moral values need not conflict with our strategy. As we reflect on the wars in Iraq and Afghanistan and as we prepare for the future use of military force, we must remember this as well.
We are a great country, a country rooted in the values of liberty and justice, compassion and community. We cannot turn a blind eye to the rest of the world – pretending that dangerous dictators pose no threat to us or that atrocities committed outside our borders don’t matter. But when we consider whether using force is in our national interest, we also should not – we cannot – turn a blind eye to the impact of unintended civilian casualties. The decision to use military force is one of the most important any country can make. If we openly consider all the costs and benefits, all the intended and unintended consequences, we will make better decisions – decisions that will live up to our nation’s core values, advance our national interests, and preserve our role as a moral leader in the world.”
Clearly, Warren is showing that she supports the imperialistic, militaristic foreign policy, echoing what Obama says. However, I commend her on considering the “intended and unintended consequences of military action” (esp. with civilian casualties) with the latter constituting a word she strangely does not use, but is used by many critiquing the American empire: blowback. At the same time, it disturbing that he argument is nationalistic and almost uber-patriotic as she holds up the US as a paragon of virtue (it is not) and she defends the military as professional (and other BS), not recognizing they are one thing, and one thing only: an army of trained, cold-blooded killers. This does not mean that no one in the army has a conscience, but rather that such a conscience, that makes one question their actions, is suppressed by the internal mechanizations of the military itself.
There is one more aspect I’ll cover in this article, and that is Warren’s bill titled Bank on Students Loan Fairness Act introduced in 2013, with a companion bill in the House of Representatives introduced by Rep. John F. Tierney. Ellen Brown, in a June 2013 article for CounterPunch writes about the bill, noting that:
“…Students are considered risky investments because they don’t own valuable assets against which the debt can be collected. But this argument overlooks the fact that these young trainees are assets themselves. They represent an investment in “human capital” that can pay for itself many times over, if properly supported and developed. This was demonstrated in the 1940s with the G.I. Bill, which provided free technical training and educational support for nearly 16 million returning servicemen, along with government-subsidized loans and unemployment benefits…Investing in our young people has worked before and can work again; and if Congress orders the Fed to fund this investment in our collective futures by “quantitative easing,” it need cost the taxpayers nothing at all. The Japanese have finally seen the light and are using their QE tool as economic stimulus rather than just to keep their banks afloat. We need to do the same.”
Still, I find it worrisome that Warren’s bill is based around the idea of Quantitative Easing, a program, that helps big banks. Additionally, the proposal seems to help students but not get them out of their horrible predicament, only making their horrible predicament just a little bit better. I think its also worth remembering that she falsely and absurdly said that the Tea Party are anarchists (they aren’t) in a October 2013 post (which was seemingly a senate speech) titled ‘We are not a country of anarchists’:
If you watch the anarchist tirades coming from extremist Republicans in the House, you’d think they believe that the government that governs best is a government that doesn’t exist at all. But behind all the slogans of the Tea Party – and all the thinly veiled calls for anarchy in Washington – is a reality: The American people don’t want a future without government…In fact, whenever the anarchists make any headway in their quest and cause damage to our government, the opposite happens…Government is real, and it has three basic functions:Provide for the national defense. [and] Put rules in place rules, like traffic lights and bank regulations, that are fair and transparent. [and] Build the things together that none of us can build alone – roads, schools, power grids – the things that give everyone a chance to succeed. These things did not appear by magic. In each instance, we made a choice as a people to come together…We are alive, we are healthier, we are stronger because of government. Alive, healthier, stronger because of what we did together. We are not a country of anarchists. We are not a country of pessimists and ideologues…We are not that nation. We have never been that nation. And we never will be that nation. The political minority in the House that condemns government and begged for this shutdown has its day. But like all the reckless and extremist factions that have come before it, its day will pass – and the government will get back to the work we have chosen to do together.
Now, while it is worthy to condemn the shutdown, to connect anarchism with the Tea Party is utterly absurd and idiotic. As wrote a great critique of this use of the term ‘anarchist’ (also by Harry Reid) in a wonderful Washington Post opinion piece:
“Real anarchist communities operate according to radically democratic principles. They theorize, and even organize, with egalitarian political and social visions in mind. Unlike tea party obstinacy, anarchism promotes cooperative forms of decision-making—not only in political life, but in social and economic institutions as well. Co-op book and grocery stores, community gardens, employee-owned businesses, land trusts and cooperative housing projects, as well as grassroots relief efforts like Occupy Sandy, are just a few examples of anarchist praxis at work in our society. Anarchism is not lawless, but it does involve a critique of the state. Anarchists encourage us to place a burden of proof on existing authority structures, and push us to limit, or even dismantle, the power of institutions, regulations and individuals whose authority proves to be illegitimate. The tea party is trying to diffuse the power of centralized government, but, paradoxically, they’re using big corporate heads and political figures within centralized government to get there…Despite their anti-authoritarianism, some of today’s anarchists concede that states can serve socially important functions like ensuring sound infrastructure, basic consumer protections and comprehensive social welfare (though they believe such services are better executed with decentralized communities)…So if the tea party is not anarchist, what is? It’s closer to what we’ve seen with pro-democracy movements around the world...Anarchists believe, ultimately, in the power of people, not the people in power. The truth is, our top political and economic institutions are not really structured as representative bodies. The idea of representation is being used today to legitimize the vast decision-making powers of a ruling elite, of which tea party politicians are a part, who exercise an inordinate level of influence in our political and social system…If anarchists had indeed taken over Congress, then the American people might be invited to collectively decide our fate, rather than entrust it to representatives of a powerful few…Anarchism seeks to diffuse power based on hubris, superiority and the conceited pursuit of wealth, and re-root it in democratic principles and egalitarian ethics. Given our current situation, that doesn’t sound like such a bad thing.“
A post on Daily Kos had a different but interesting critique, arguing that “anarchism and conservatism are fundamentally at odds with each other,” while Nathan Goodman of the Center for a Stateless Society writes that “…the “shutdown” has kept intact most of the state violence that anarchists oppose, including militarism, police violence, crony capitalist patent monopolies, mass incarceration, mass surveillance and deportations…State regulations, in contrast, are often used by big business as a way to restrict competition, consolidate power, and dodge accountability. This is a pervasive problem called regulatory capture.”
This isn’t all. There is the fact that Warren ran as a hawkish politician, against another hawkish politician Scott Brown, by advocating for Iranian sanctions, leaving Afghanistan only once ‘the puppet government is secured,” continuing drone strikes and “clandestine wars” to continue the war on terror, continuing to fund Israel with US tax money which allows it “to continue its slaughter of Gazans and others.” Oh, and let not forget the thousands of dollars she has in checking and savings accounts at Bank of America, or her thousands of dollars in TIAA-CREF funds, as according to her financial disclosures in early 2014. If that’s not enough, she already received $38,575 from Google, $19,500 from National Amusements (owns Viacom), $18,400 from Microsoft Corp, $18,000 from Goldman Sachs, $17,700 from Bain Capital, $16,000 from Time Warner, $14,825 from IBM, and $13,050 from Walt Disney Co., and $12,575 from Rayethon in individual contributions in 2014 alone. I know that individual contributions on their own does not indicate a company supports a certain candidate, rather only certain people in that company. Looking at her contributors during her whole legislative career shows a number of universities and liberal political groups have given her money. For her PAC money, she’d received $22,000 in 2013-2014 and most of it is either labor groups or single-issue groups. But there are some business groups as well, centering around Massachusetts Mutual Life Insurance, the National Assn of Realtors and Camp, Dresser & McKee. There is more to Warren’s record, more than one could pick away, but I’m done for now since this is all I can say at this time.
 See my articles ‘The truth about Elizabeth Warren‘ , ‘An update about the capitalist reformer Elizabeth Warren‘, ‘Elizabeth Warren is not a savior’, ‘Elizabeth Warren is a fraud‘, part of this article and a following one I wrote responding to comments,