Multimillionaire 1%er Elizabeth Warren helped establish bankruptcy strategy for insurance companies to deal with crushing lawsuits:
Insurance past should sink Lizzy
By Holly Robichaud
Monday, January 30, 2012 - Updated 2 days ago
How does U.S. Sen. Scott Brown win re-election in this blue state?
Massachusetts Republicans win when the Democrat is damaged, such as U.S. Rep. John Tierney, who had no idea that his wife was filing false tax returns for the family gambling ring.
Victory is also possible when it is an open seat, such as the 4th Congressional District, finally being vacated by Congressman Barney Frank.
And Brown proved that Republicans can defeat a well-entrenched Democrat when the opposition is arrogant, elite and has a bad case of foot-in-mouth disease.
While Marsha Coakley and Lizzy Warren share the same personal flaws of being out of touch with the Massachusetts middle class, the Harvard professor also has a potential deadly political sin in her background. Maybe it is the reason President Obama didn’t nominate her to head up the consumer agency. It is not a secret that his administration believed Lizzy couldn’t survive the Senate confirmation process.
One of the Harvard professor’s many well-com-pensated part-time gigs included consulting for Travelers Insurance. I know that it is hard to believe that on one hand, Democrats would be bashing an industry, and on the other hand they are making money from it. To be a Democrat is to be a hypocrite.
What did Lizzy do to earn $44,000 in compensation from the insurance company? She made it harder for claimants to collect. Warren helped establish the bankruptcy strategy for companies to avoid crushing lawsuits. In short, go bankrupt to avoid paying victims.
In court briefings, she supported the effort to protect Travelers Insurance from future lawsuits after agreeing to a $500 million settlement with asbestos plaintiffs.
That sort of destroys her image as consumer advocate, doesn’t it?
It is too bad that Brown and Warren signed the pact banning third-party television commercials, because I’m sure the nonpartisan League of Women Vultures has been gearing up to run ads showing asbestos victims complaining about Lizzy. Yeah, right. Well, maybe they could at least issue an apology to Brown for the nasty ads they ran last summer against him on clean air.
Without the League’s help, Brown’s team can still run their own commercials. They should copy Ted Kennedy’s corporate raider commercials against Mitt Romney that featured laid-off workers. Brown’s sympathetic ads would have asbestos victims and their families talking about their hardships. He can also have them at various debates to counter her claims of being a consumer advocate.
Don’t think this is a big issue? What if Brown had helped Travelers Insurance?
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