Elizabeth Warren on Corporations
The Globe's conclusion after an extensive examination: Warren was paid $212,000 by Travelers from 2008 to 2010. Warren helped Travelers win a case that gave the company immunity from most asbestos lawsuits, and a $500 million trust fund has not been paid out because of a court order that Travelers won after Warren's work on the case ended.
But at the time, most asbestos victims were actually on Warren's side of the issue. She was fighting, she says, to unlock the $500 million trust, which Travelers said at the time it was willing to pay out in order to gain immunity and settle all the outstanding claims.
Anyone here have a problem with that? Well I do.
The reality she found, however, traveling from one courthouse to the next, was altogether different from the one she'd expected, and far more complex: the filings came overwhelmingly from working people who had suffered mishaps and bad luck--illnesses, deaths of family members and spouses, divorces, and economic downdrafts that often swallowed communities whole.
We need a 21st century manufacturing base and expanded service capacity. We need a set of workable rules that don't tangle up those trying to create something new. We need to be able to invent things, make things, and sell things to the rest of the world. We did that once, and we can do it again.
A crackdown on credit cards was one of the president's early and almost entirely unnoticed victories. In May he signed sweeping legislation that limited fees, required disclosure of rate hikes before they were imposed, and ended the industry's practice of preying on college student before they were 21. But Congress erred badly in not making it effective immediately, which meant that Americans saw unconscionably higher interest rates on their credit card until 2010.
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