Rescueing America’s middle class – a woman’s mission

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Antonia Felix: Elizabeth Warren. Her Fight. Her Work. Her Life. ISBN 978-1-4926-6528-1 ⭐️⭐️⭐️⭐️⭐️ I had no idea how much I would love this book. It was fun to read, and it gave me an excellent insight into the plight of the American middle class, a fundamental factor in understanding how somebody like Donald Trump could become president of the United States. Senator Elizabeth Warren’s story, told by Antonia Felix, reminded me of Karl Marx’ description of how factory owners exploited factory workers in the 19th century and how the proletariat got caught in the trap of low-income, no education and no chance to rise from misery. An informed account of social injustice and the economic mechanism behind it.

Don’t get me wrong. Warren is not a Communist, not even what the Americans call a “Socialist”. She is labeled sometimes a “dangerous liberal”, and her Republican opponents mean it as an insult. But this only adds to her credibility. She is dangerous for selfish, arrogant politicians and bank CEOs, not for common mortals. Actually Warren is very much in favor of the market economy. She is also a staunch defender of the level playing field that should give all Americans a realistic and equal chance to live the “American Dream”. And there you have it: The playing field is not level. As a scholar she studied the income situation of the middle class for decades. She initiated the first large field study to find out why households file for bankruptcy. Investigating what circumstances pushed households over the cliff became her academic mission.

Losers and winners

Globalization divided the United States into losers and winners, it turned Main Street against Wall Street. The unbridled capitalism, marked by a deregulated banking sector and highly fragile financial constructions, proved to be one of the traps in which the middle class got caught. Lay-offs and the lack of adequate social security were part of the problem. Another element was the easy money that flooded US consumer pockets. You have bills to pay? Use the credit card? You default on your credit card? Take another credit card! Never mind that the bank will charge you outrageous fees later. And African-Americans and Latinx become more easily a prey for ruthless lenders as they are more often targeted by such lenders and often lack the education to see the trap closing.

Then there is the housing issue. A house in a good neighbourhood – one with a good school and other public infrastructure – is an expensive investment. Mortgage financing seems to be the quick and easy solution. But many are not aware of the dangers and the expertise needed to work through the paperwork. Add the risk that many take in refinancing their consumer credits through their mortgage. A grim picture. “Americans are drowning in debt”, Felix writes. “One in four families say they are worried about how they will pay their credit card bills this month […] Last year [2017], 1.2 millions families lost their homes in foreclosure.”

On the brink of poverty

A situation all too familiar to Senator Warren. She grew up in a poor family in Oklahoma. Both parents had to work, and at some moment, their home was at risk. Young Elizabeth was expected to marry a good man and not to start expensive studies to become a teacher as she wished. Gender roles were an issue, but already as a young girl, Elizabeth Warren knew how to persist. Persist – it became one of her winning formulas and quite a few members of Congress and staffers at the White House have experienced Warren’s tenacity. She became an outstanding researcher and teacher wining multiple awards.

Warren’s desire to learn and to teach brought her to the pinnacle of law studies in America: Harvard. However Warren’s career did not stop there. Having situational awareness is one thing. Finding ways and means to remedy the situation is another. But is it the job of a Harvard scholar? Warren’s expertise, her savvy use of TV shows and her publications made her a well-known person all over the United States. And soon after the financial crisis, Democrats from Washington started to reach out to her. In her youth she had been a Republican, her study of the consequences of “laissez-faire” capitalism have converted her.

A scholar turned politician

In October 2008, Congress authorized 700 billion US dollars to stabilize the economy through the Troubled Asset Relief Program (TARP). It targeted the failing banking sector, and Warren joined the Bankruptcy Review Commission to supervise the implementation of TARP. She got a first taste of Washington politics and was appalled. It was all about saving the banks, and still no one cared about those who had their savings and pensions wiped out. She wrote a brilliant article with the title “Unsafe at Any Rate” and requested safety standards for credit card contracts and mortgages similar to those in force for electrical appliances, toasters for example. At the end of a long political battle stood the Consumer Financial Protection Bureau, announced by President Barack Obama in 2011.

Partisan infighting prevented Warren to become the agency’s first director as Republicans had vowed to take the agency down, no matter what the political costs were. And a retired senator, Barbara Mikulski, gave Warren a piece of advice: “Don’t get mad; get elected.” What she did. After some hesitations, she resigned from her post in Harvard and went on an election campaign targeting the people who were the subject of her studies: the impoverished and weakened middle class that did not seem to have a champion in Washington.

Serving the people

Warren’s desire to serve the average American has become her hallmark. She appears genuine in championing this cause, and it’s a worthy, noble cause. She knows as much about the issues at hand as anyone in the United States. As a senator she forged bipartisan bills by reaching out to other female senators with common sense. She has a strong sense of community, visible to anyone who cares to watch, and being elected twice to the Senate proves that she stands a chance to accomplish even more. A “Washington Post” writer has her in the first slot of the Democrat’s candidates for the presidential elections in 2020. People like Elizabeth Warren do not claim to make America great again. People like Elizabeth Warren actually make America a better place.

Female heroes are not exactly abundant in classical music, but this does not mean that they do not exist at all. Judith, who gave her name to a chapter of the Old Testament, is such a hero, and Wolfgang Amadeus Mozart composed at the age of 15 “La Betulia Liberata”, an oratorio about Judith’s deeds:

A Mozart oratorio about women empowerment