Maxed Out Author/Director Calls on Obama to Nominate Elizabeth Warren to Head Financial Reform
"Maxed Out" Author/Filmmaker James Scurlock calls on President Obama to nominate Elizabeth Warren to head Financial Reform Body. Elizabeth Warren starred in Scurlock's award winning 2007 documentary on debt.
Los Angeles, CA, July 16, 2010 --(PR.com)-- Now that financial reform has passed the United States Senate, James Scurlock, writer/director of the 2007 award-winning book and documentary on debt "Maxed Out" that predicted the implosion of the financial industry, is calling on President Obama to nominate one of Maxed Out’s stars—Harvard Law School Professor and TARP overseer Elizabeth Warren—as head of the new consumer financial protection regulator.
“As chairwoman of the Congressional Oversight Committee on TARP,” Scurlock said, “Professor Warren has displayed a fierce commitment not only to transparency but to the American taxpayer—a commitment that is almost non-existent in Washington today. She has devoted much of her life to protecting not only consumers from the abusive and deceptive practices that have become the norm in the modern financial world, but to protecting the integrity of America’s banking system as well.”
Scurlock continued: “Recent statements by Federal Reserve Chairman Ben Bernanke indicate that he either does not understand the dynamics of the modern banking industry or that he feels, for some reason, that he is powerless to do anything to change them. This should underscore the need for a dynamic individual like Warren to ensure that the interests of banks and American consumers are aligned. If we allow banks to continue printing money by charging usurious interest rates and fees and if we encourage them to eschew investing in small business for gambling in huge hedge funds, we will simply reset the system that blew up three short years ago. We will also guarantee an end to the nascent economic growth we have experienced in the first half of this year, and, in my opinion, fall back into what is known as a double-dip recession.”
Maxed Out is James D. Scurlock’s first feature film. He is also the author of “Maxed Out: Hard Times and Easy Credit” which was published by Simon & Schuster imprint Scribner in March 2007. It just recently won the prestigious 2008 Ridenhour Prize.
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“As chairwoman of the Congressional Oversight Committee on TARP,” Scurlock said, “Professor Warren has displayed a fierce commitment not only to transparency but to the American taxpayer—a commitment that is almost non-existent in Washington today. She has devoted much of her life to protecting not only consumers from the abusive and deceptive practices that have become the norm in the modern financial world, but to protecting the integrity of America’s banking system as well.”
Scurlock continued: “Recent statements by Federal Reserve Chairman Ben Bernanke indicate that he either does not understand the dynamics of the modern banking industry or that he feels, for some reason, that he is powerless to do anything to change them. This should underscore the need for a dynamic individual like Warren to ensure that the interests of banks and American consumers are aligned. If we allow banks to continue printing money by charging usurious interest rates and fees and if we encourage them to eschew investing in small business for gambling in huge hedge funds, we will simply reset the system that blew up three short years ago. We will also guarantee an end to the nascent economic growth we have experienced in the first half of this year, and, in my opinion, fall back into what is known as a double-dip recession.”
Maxed Out is James D. Scurlock’s first feature film. He is also the author of “Maxed Out: Hard Times and Easy Credit” which was published by Simon & Schuster imprint Scribner in March 2007. It just recently won the prestigious 2008 Ridenhour Prize.
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