Senator Elizabeth Warren (D-Mass), picks her adversaries so well that she gains popularity and unearned credibility through the power of cognitive dissonance. Listen closely, however, and you will hear the ranting of a class-biased demagogue.
Joining in on the bipartisan and well-deserved roasting of Wells Fargo CEO John Stumpf before the Senate Banking Committee hearing this week, Warren accused Stumpf of profiting from the mass scam in which over 5000 bank employees signed up customers for services they hadn’t requested, without their knowledge. The bank collected fees for these accounts, cards and services, and the employees got bonuses.
He probably did profit, since the bank did more business and his stock holdings increased in value. Was he aware of the scam, or even behind it? There is no evidence of that yet. Warren also said he should resign. She’s sure right about that. He is accountable as the CEO, and he failed his duty of oversight. It is, as Warren said, typical and wrong that all the firing so far have avoided the executive suites.
But Warren seems to be oddly unaware of her double standard regarding management and leadership accountability. The standards that she was railing at Stumpf for not meeting should also apply to Barack Obama’s accountability for a corrupt IRS, a rogue NSA, a drunk Secret Service, a politically-biased Justice Department, a horrifically incompetent Office of Personnel Management, a criminally negligent VA, and, of course, a technically-challenged State Department that was operated as cash-cow for its Secretary’s personal foundation. Elizabeth Warren’s application of standards are driven by class bias and partisanship, not conduct or principle. She has enables an administration that has avoided assigning accountability or accepting it for multiple fiascos. The most recent? From Fox News: