The Democratic National Convention featured in one of its most prominent speaking slots a rising star, Elizabeth Warren. Warren, a Harvard Law School professor and President Obama’s first choice (ultimately passed over) to run the Consumer Financial Protection Bureau, is the Democratic party’s presumptive expert, as far as their politicians go, on our financial system. Thus, after the standard autobiographical bits, the Massachusetts Senate candidate launched into what she meant to be an excoriation of the flaws of our financial system. Instead, it turned out to be an apt demonstration of a flawed understanding of that system.
To take one passage: