Brown vs. Warren — Both the Best and the Worst

by Ulysses S. Rant on May 14, 2012

Aside from the presidential election, the political battle that intrigues me the most this year is the race between Massachusetts Senator Scott Brown (R) and Harvard Professor Elizabeth Warren (D) for Ted Kennedy’s old seat in the U.S. Senate. I’ve been fascinated by both of these impressive individuals for several years, as it seems to me that they represent the best and the worst that their parties have to offer these days.

Scott Brown is a self-made man who came from humble and challenging beginnings. His parents divorced when he was an infant, after which his mother had to go on welfare. He was physically abused by his stepfathers and sexually abused by a camp counselor (who threatened to kill him if he told anyone…the experience was so traumatic that he didn’t even tell his family about it until he wrote his autobiography in 2010). He also was arrested for shoplifting when he was in his early teens…but fortunately for him, the judge he faced managed to get his attention and turn him toward a better path.

You can tell that this isn’t a stereotypical tale of some Republican WASP from a patrician background. Brown had it tough. But he was a smart guy, and he got his shot through a good education, earning his bachelor’s and law degrees from two of Massachusetts’ finest universities. He worked as a model and joined the National Guard, eventually making his way into politics via the state legislature. Along the way, he met and married a charismatic TV news broadcaster and raised two impressive daughters with her in what by all accounts is a strong and happy family.

So Brown was already living the American Dream when a big opportunity opened up for him in 2009. Senator Kennedy passed away as Congress was debating the President’s controversial health care bill, and Brown suddenly had the chance to run for a seat that few “insiders” thought the Republicans would actually win. Lo and behold, he proved the naysayers wrong! Aided by President Obama’s massive mistakes, he won a mandate from the voters of Massachusetts to oppose health care “reform” and skyrocketing deficits.

But here’s the thing: by and large, Brown won that seat the right way. He acknowledged the legitimate concerns of the surging Tea Partiers but didn’t pander to their every whim.  He ran a strong campaign with a clear message, and he leveled with the voters about his support for policies that were unpopular in many quarters (e.g. backing the Wall Street bailouts, or approving of “enhanced interrogation” measures). Basically, he positioned himself as a reasonable, moderate Northeastern Republican who is willing to compromise when necessary (much like his in-state ally Mitt Romney).

Elizabeth Warren also came from a humble beginnings and also had to overcome childhood adversity. Her father worked hard as a janitor in Oklahoma City. But he suffered a heart attack when Elizabeth was twelve, and his family learned just how quickly a middle-class family can find itself in difficult financial straits. Warren had to work as a waitress in her teens just to help her parents make ends meet…but she too was quite bright, and she earned a full-ride debate scholarship to George Washington University when she was only 16! She then went on to earn her law degree from Rutgers.

Warren eventually accepted a teaching position at the University of Houston Law Center. And as a hard-working single mother raising several kids, she found herself quite offended when Congress passed a law in 1978 that made it much easier for citizens to declare bankruptcy. It seemed to her that these people were just taking advantage of everyone else, instead of pulling together to do the right thing (like her family had done in her childhood).

So she set out to prove her argument. But she had a big change of heart while doing her research, as she discovered that the majority of bankruptcies in this country are due to lost jobs, broken families, and — far too often — debilitating medical illnesses. The problems of the bankrupt were much more about circumstance than character…and those problems were getting worse. Times were tough for blue-collar and white-collar workers alike in the late 70′s/early 80′s, and Warren discovered that her real passion was to become their advocate in the academic world. She did so quite successfully, and she rode that passion straight to a tenured professorship at Harvard Law School.

Warren was probably most known for her insightful and thought-provoking book The Two-Income Trap (2003) when the financial crisis broke in 2008. But over the past several years, she has become even better known as one of Wall Street’s most vocal and effective critics, first as the no-nonsense chair of the TARP Oversight Panel and then as a driving force behind the creation of the Consumer Financial Protection Bureau. But after President Obama caved in to Wall Street and passed her over for the Bureau’s directorship, his party approached her with a big offer…their support to challenge one of Wall Street’s favorite Republicans for the Senate seat he took from the Kennedys!

She eagerly agreed to run, setting up a battle of state heavyweights in 2012. And that, my friends, pretty much brings us up to date. So, let’s sum up…

Senator Brown is a good man who has been an advocate for reasonable, center-right approaches to the country’s problems. But he’s also in bed with Wall Street and big business interests that have gone “far too far” in pushing agendas that are doing great harm to America’s middle class. Yes, I get that they have to compete in a very tough and highly “globalized” marketplace. But that doesn’t mean that only their interests should matter.

Professor Warren is a good woman who has repeatedly and effectively stood up for the middle-class voters who suffer because of those interests. But she also refuses to call out the limousine liberals who make a up a major portion of that bloc (and whose agendas hurt the middle class in other ways as well). And as I mentioned recently, we’ve just discovered that her dishonesty about her heritage may have played a major role in her fast-rising academic career.

Scott Brown too often advocates for the wrong people, but he does so honestly and openly. Elizabeth Warren advocates for the right people, but she too often does so dishonestly and partially.

That right there says so much about what’s wrong in America today: good people going the wrong way. As I’ve said before, the problems we face as a nation are primarily moral in nature. Most of us sense that at a deep level, even if we sometimes struggle to explain clearly why we feel that way. And that is why we must have a serious discussion about shared moral values before we can hope to find the common ground necessary for real solutions.

As for these two…well, I think it’s more likely than not that Scott Brown will win re-election to the Senate in November, especially given the weak state of the Democratic Party this year, along with the rather lackluster manner in which Warren has run her campaign. And I’m OK with that. For the time being, I’ll take the honest but somewhat misguided guy over the the well-meaning but somewhat dishonest gal who is keeping close company with them that seek to rule over our lives in any manner they see fit…and who believe that “anything goes” so long as it advances their agenda.

I don’t expect politicians to be saints. But I do expect them to be at least reasonably honest about their professional lives and their political agendas. And is it so much to ask them to actually represent the interests of the voters who elect them alongside the contributors who finance them??

What we need is a third side — an in-the-middle side — that combines the best that the Browns and Warrens of this country have to offer while doing away with (at least) the worst. What we need is the return of centrist governance, as we had in the brightest days of the Greatest Generation!

But in the meantime, I salute Brown and Warren for representing the best of the parties (along with the worst), and I look forward to watching how their contest plays out. Next week, I want to start taking an in-depth look at how the Obama vs. Romney race stacks up (hint: not well for the President).

I’ll catch you again on Friday with the weekly recap. Ciao!

 

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The Storms Draw Closer…(Recap)

by Ulysses S. Rant on May 11, 2012

This was a very interesting week. The Socialists won elections in France and Greece, setting “Club Med” up for a major showdown with Germany and its northern partners. And though it got surprisingly little media attention, this week’s out-of-nowhere creation of the “grand coalition” in Israel (along with the calling up of the nation’s army reserves) is probably the strongest sign we’ve seen yet — very similar to what happened before their 1967 war with Egypt, in fact — that the Israelis could be gearing up for war with Iran.

Hold on to your hats, people! What we saw this week only bolsters the the argument that the world is on the verge of some serious political turmoil. And that turmoil will cause more economic volatility here at home. As I’ve said before, coming crises in Europe and the Middle East could have a very negative impact on President Obama’s already-dimming prospects.

For the time being, though, we remain in the eye of the storm. And while we’re there, we should address the other big recap-worthy news — President Obama came out in support of gay marriage this week! I strongly support gay marriage as well, so I applaud the President for taking this position. I doubt it will make much difference in terms of the election, but it is yet another step toward full equality for the LBGT community. And that is a very good thing.

But once again…the lefties just couldn’t leave well enough alone, could they? As with the “bin Laden anniversary” controversy a few weeks back, they couldn’t simply accept acclaim for a good decision. Nope, they had to go on the attack against Romney as well! Thus the Washington Post went straight for the warpath with an 11-page, tabloid-level-hit-piece on Mitt Romney that “just happened” to come out the day after the President’s announcement.

And as with the bin Laden incident, it’s already blowing up in their face. The story is starting to fall apart, as its sources have serious credibility problems, and as the Post itself has already had to backtrack a bit on what it initially published. It certainly doesn’t help that the sisters of the alleged “victim” are already pushing back publicly and claiming angrily that the Post got the facts wrong while using their deceased brother as a political prop.

It’s so obvious that the Post was trying help “their guy” by smearing Romney (as a homophobic bully) with shaky allegations in the wake of the President’s historic announcement. So…what should have stood alone as a genuine shining moment for the President ends up being sullied by tabloid pablum in the name of “anything goes” liberalism. The mainstream media will turn itself into a pretzel defending Elizabeth Warren’s blatant dishonesty about her cultural heritage, but it’ll go after Romney in a heartbeat over highly suspect “allegations” which the late “victim” can’t respond to and which his family clearly deplores. Apparently, this is what passes for “journalism” today.

I suspect we’ll see a lot more of that in the months ahead, and I suspect it will continue to blow up in the left’s face…in a major way.

President Obama and his supporters continue to tear apart his core brand — “hope and change” — when they engage in this kind of tawdry behavior. And the polls show that he’s starting to pay a heavy price for it. But so long as the left refuses to discuss the real issues in a serious manner, their only recourse is to try to demonize Romney in any manner they can.

Over the next few weeks, I’ll show why this approach — along with other key aspects of the President’s election strategy — is most likely doomed to fail. But for now, I congratulate the President for taking what I believe to be the right stand on an important issue. And I’ll continue to look forward to the day when our “gay” brothers and sisters can not only hold their heads up high…but also do so as full equals in the eye of the law.

I’ll catch you all again later this weekend or on Monday. I want to take a quick look at the Brown vs. Warren race in Massachusetts and then pivot to a close look at the dynamics of the Obama vs. Romney race. So that’s the plan. In the meantime, I hope you all have a great weekend!

 

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P.S. on Finance & Trade News…(Recap, Part 2)

May 4, 2012

In Part 1 of this week’s recap, I covered “Elizabeth and the Euro”… and added some links to some really good articles for good measure. But if by chance you still find yourself in a link-clicking mood (and good for you if you do!), this article by legendary hedge fund manager David Einhorn, on the Fed’s “jelly donut” [...]

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On Elizabeth Warren and European Warnings (Recap, Part 1)

May 4, 2012

I don’t have the time to write a proper recap today, so this is will be a quick stream-of-consciousness rant instead. On Monday, I’m planning to address the Scott Brown vs. Elizabeth Warren race for Ted Kennedy’s old Senate seat in Massachusetts, as it is one of the most fascinating contests in this election. But first [...]

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Storm Clouds Brewing in Europe…

April 30, 2012

I don’t have time to write a proper rant this week, so I’ll leave you with a link to this good article instead, wherein the Daily Telegraph’s Louise Armitstead covers the growing EU backlash against Germany’s push for more austerity. France is poised to elect a new Socialist president who has promised to upend the existing [...]

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GOP: It Pays to Work Together (Recap)

April 27, 2012

There wasn’t much news of note this week, so this is a chance for me to set the record straight. Unfortunately, it is an all-too-common aspect of human nature that we don’t like to admit when we’re wrong. This is especially true for those of us who do political commentary regularly, as this field can [...]

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Political Problems Require a Moral Discussion

April 23, 2012

Well, I’m still working on my “big picture” outlines; I hope to start posting those soon. I’m not yet finished with the rant I was hoping to post today, and I don’t have the time to finish it right now. So I’ll just leave this quick note. I’ve been struck by the number of articles I’ve [...]

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Jobbed by JOBS (Recap)

April 20, 2012

In Monday’s rant, I mentioned that I’m very disturbed by how little attention this newly-passed JOBS Act has gotten in the mainstream media. I haven’t had as much time as I wanted to cover this bill in more detail, so I’ll refer you again to the articles (written by Matt Taibbi and Simon Johnson) that [...]

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Gaffe of the Year Deflects Attention from the Travesty of the Year

April 16, 2012

Congress just passed, and President Obama just signed, the JOBS Act – a bill that represents one of the most disturbing attacks on transparency and investor protections since the era before Great Depression. Yet very few in the media are talking about this incredibly dangerous development. Most journalists seem preoccupied with the latest political “gotcha” moment, which [...]

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Romney Wins the GOP Nomination this Week…and then Gets a Gift from the Dems! (Recap)

April 13, 2012

Well, it’s all but official now: former Governor Mitt Romney of Massachusetts will be the 2012 Republican presidential nominee. Rick Santorum surprised the country this week when he abruptly dropped out of the race, even though there are nearly two months left to go. It would appear that the power-brokers behind the scenes finally got [...]

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