Elizabeth Warren to Obama: ‘You Had Me at Predatory Lending’

May 23, 2011 RSS Feed Print
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She’s smart, Harvard educated, TV attractive, and a bit nerdy just like her new boss, President Obama. But the coupling of Obama and Elizabeth Warren, the president’s choice to lead the new Consumer Financial Protection Bureau, didn’t just happen in some Washington personnel office. As Warren explains it, their first encounter was a Hollywood moment.

It took place way back in September 2003, when the little-known Illinois state senator began his bid for the U.S. Senate. Obama needed money, so he tapped alumni and faculty of Harvard Law School, from which he and his wife Michelle had graduated. Their favorite professor, David Wilkins, hosted 30 to 40 potential donors in his home. “I suggested that he come to Cambridge, and I would host a fundraiser for some of the people who also knew him as a student or had heard of his reputation while he was here,” Wilkins recalls. [See photos of Michelle Obama.]

The schools’s vice dean for global initiatives on the legal profession, Wilkins says he was “especially keen” for Obama to meet fellow Harvard Law professor Warren. “I knew he had been fighting against predatory lending in the Illinois state Senate, and she was and is one of the foremost experts in the country on the subject,” says Wilkins.

Warren recalls entering the home as the sun was setting and seeing a tall, slim man standing in a back room. He held out his hand and their fingers touched. “Just like in the movies,” says Warren, who recently revealed the story to students at the Clinton School of Public Service in Little Rock, Ark. At that point, she recalls, Obama said “predatory lending.” “On and on and on, and I never get a word in,” she adds of the discussion.

As he summed up, Obama flashed his famous toothy grin, knowing he had won her over. “Well?” said Obama. Warren reached for a line from the popular 1996 movie Jerry Maguire: “You had me at ‘predatory lending.’ ”

Wilkins says the other famous line from that movie—“Show me the money!”—wasn’t uttered, noting that “$250 was probably the top price for the event, and not very many people paid that!”

He says Warren wasn’t the only Obama-ite created that night. “By the end, every single person in the room left as a rabid Obama supporter, a network we relied upon the next time we hosted a fundraiser for him shortly after he announced for president. We had 250 people crammed into that back room and Fox News camped outside our door,” he says. “The rest, as they say, is history.”

Tags:
Barack Obama,
Congress,
Michelle Obama

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Ya know Renee there might have been predatory lending before 2003 - just like there might have been out of wedlock babies before Edwards

Arnold proves the point.

There is no argument that predatory lending has gone on for a long time

- even before the craziness of the last couple years.

and its still going on.

After 8 years of paying every month on my Wells Fargo Home Loan

I asked them a couple months ago if they could let me pass on one month (make it up at the end) - They told me "No" I couldn't adjust it because I wasn't in default" I had to go into default to get it adjusted.

Then I read a couple days later - ala Barney Frank by the way - that he had heard stories on this and it was just the kind of thing that the CFPB was meant to deal with.

On the Today show this morning (not that I usually watch it) it was reported that more than 50% of American households could not raise 2000 in 30 days -

that's how tapped out the middle class is.

So please - find some real opposition to Warren - start by watching her whole recent congressional testimony and see if you don't realize how many times she had to straighten out misinformed questioners

MrQuestion of WA 12:47AM May 27, 2011

You just have to love the condescending douche bags of the left here, preeningly posting to one another, making no sense, and simply adoring one another's drool. David of TX and Wit(less) daniel (capitalization-challenged) O'Rourke of MI are emblematic of the vacuousness of what passes for "liberal" thought these days. I'd ask either to provide a definition of "predatory lending" but, indeed, the results of their empty skulls bursting into flames might contribute to global warming.

Frank of MD 7:32AM May 25, 2011

Hate (Renee of MA) vs. Good-Natured Wit (David of TX)

Good-Natured Wit wins hands down.

Seriously, let the hate leave your body, oh conservative hatemongers; it will kill you.

Do you honestly think there is a case to be made in May, 2011 that the conservative ideology hasn't shown what its true intent really is? If you aren't part of that top 1% or even 2%, Renee, then they are only looking to destroy you.

The left and the right used to BALANCE each other out.

That changed about thirty years ago when the polarizing first began. The arrival of Newt harkened true ugliness and it has only grown exponentially ever since.

Please don't add to the din. You are probably a decent person, Renee, and if you took a deep breath you might be surprised at how many issues we would see eye to eye on. But if not, I wouldn't wish you any harm and I'm sure David from texas wouldn't either.

Try to remember what it was like back then, Renee, or learn if you weren't around back then. Democrats and Republicans used to actually like and respect each other before it became bloodsport and they used to actually get very important work done together. Just because we don't agree doesn't mean we have to hate one another.

daniel O'Rourke of MI 3:10AM May 25, 2011

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