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How Elizabeth Warren made change happen

Courtesy: Reuters

Harvard professor Elizabeth Warren dreamed of protecting American consumers from what she calls the "tricks and traps" of some financial products. Facing huge challenges, she still went on to make the dream real by setting up a new federal agency called Consumer Financial Protection Bureau.

The Dream-to-Reality journey took four years and here's a summary of the things she did to get there:
  • Wrote down the problem and drew what the agency should look like
  • Encouraged a hot debate over government's role in protecting consumers
  • Spent hundreds of hours visiting with at least 80 members of Congress ... Grilled the Treasury Secretary
  • Flew across America to talk to the heads of banks
  • Wrote a book to get her message across to a large audience ... Wrote op-ed pieces
  • Became a frequent TV guest
  • Delivered invited speeches ... Sat on panels
  • Made herself available to share thoughts with senators
  • Built the agency largely to her specs
  • Did not wait for permission to do the job; her small team is already working (12- to 14-hour days) on projects.
Warren's staff believe that they now have the opportunity to reshape an industry and protect American consumers.

Right at this moment, people in various countries including India, appear to be looking for change. I hope that they understand what it takes to make change happen — and draw lessons from Warren's story.

Source: Bloomberg Businessweek


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