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Come Saturday Morning: Elizabeth Warren Outfoxes Obama and Summers

I love Elizabeth Warren. She is exactly who Teddy Kennedy would have wanted in his Senate seat, and if there is an afterlife I’m sure he’s smiling as he watches her outfox the people trying to neutralize her.

Even as People Without Names are alleged to be making vapor endorsements of Larry Summers, a man who resembles a lumpy bag of dung in more ways than one, to be made Federal Reserve chair, many people with names, including three very important ones, are pushing to have him dumped back onto the figurative dungheap where he belongs:

At least three Democrats on the Senate Banking Committee are expected to oppose Lawrence Summers if he is nominated to become Federal Reserve chairman, setting up a razor-thin vote to determine who will lead the central bank at a critical moment for its easy-money policies.

Democrats hold a two-vote majority on the 22-member panel, so the loss of three Democrats would make it impossible for Mr. Summers to advance to the full Senate for a confirmation vote without the backing of some of the 10 Republicans. No Republican has publicly expressed support so far for any potential White House nominee for Fed chief, giving President Barack Obama little margin for error.

The committee Democrats expected to oppose Mr. Summers are Jeff Merkley of Oregon, Sherrod Brown of Ohio, and Elizabeth Warren of Massachusetts, according to congressional aides. The banking committee is the panel that will hold confirmation hearings on the nominee and vote on whether to send him or her to face a final vote in the 100-member Senate.

Remember when Obama told Elizabeth Warren that, after months of stringing her along, he wouldn’t nominate her to head the CFPB? That he wouldn’t expend a thousandth of the energy he’s currently spending to start a global war on AIPAC’s and the House of Saud’s behalf to get her nomination past cream puff Republicans like Mitch McConnell? She probably wasn’t exactly happy that he refused to fight for her, but she worked to get her like-minded ally Richard Cordray into that job, then took the sow’s ear Obama offered to her — the suggestion that she run a long-shot campaign against Scott “Playgirl” Brown to retake Teddy Kennedy’s Senate seat — and turned it into a silk purse.

Warren is a person who, while not at the time a member of the executive branch, the legislative branch, AIPAC, or the Koch family, still had the juice to make a largely-hostile Congress create a new regulatory agency in the executive branch. Now she’s a United States Senator, and has even more juice than she did before, and is putting it to good use.

Go get ’em, Senator.

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