Steven Rattner said on November 5: The Warren Way is the Wrong Way. You could not directly compare his Op Ed and Paul Krugman’s at the same time on the subway. The paper is way to big. You’d need to spread them out on the dining room table. Two Op Eds on the bottom of adjacent pages.
Paul Krugman says Steven Rattner is a snowflake. He doesn’t actually say Steven Rattner’s name. Rattner was integral to Barack Obama’s effort to save the American automobile industry. Krugman compares current Wall Street criticism of Elizabeth Warren to Wall Street criticism of Barack Obama. Despite gentle (genteel?) handling handling of bankers and others, Obama become an object of intense criticism by the bankers for not regarding them as they want to see themselves – masters of the universe.
Elizabeth Warren would not be as gentle. Rattner believes she would end America’s unique “public-private relationship” for a “dirigiste” (state controlled, I had to look it up) economy. Aside from dismembering (sounds like something the Saudis do) tech giants, she would “effectively eliminate” private equity.
Elizabeth Warren regulates. Her triumph, the Consumer Financial Protection Bureau, punished banks that cheated their customers. Nice job. The Trump administration and, apparently an administration that Steven Rattner would support, prefers to give a pass to the likes of Wells Fargo Bank. Why shouldn’t it be OK for a bank to open new accounts for you without your approval and charge you for that benefit?