A Fighting Chance (72 page)

Alyssa Martin has been extraordinary. She was not only one of the key partners in the early days of setting up the consumer agency but also one of my students in my last year of teaching and the chief researcher to document all the twists and turns in this book. She worked incredibly hard and took amazing care to make sure we got all the facts and figures right. Pete Jones checked and rechecked factual details and end notes, and he added a degree of judgment and thoughtfulness to his comments that enriched every part of this book. Sarah Levin, another former student, also put in long hours to help us round out the research cited in the book. Rebecca Wharton and Anne Schwichtenberg pitched in as well, working under tight deadlines and always willing to “check one more time.” It has been an honor to work with each of them to tell this story.

The book’s editor, John Sterling, has been a great partner in the enterprise, offering smart editing suggestions but always being careful not to change the underlying meaning. He knew from the beginning that this was a personal book, a story from me to the reader, and John gave me plenty of space to remain true to that vision. Bob Barnett served as a thoughtful advisor, starting years ago when the idea for a book about fighting for a stronger middle class was barely a glimmer.

Brady Williamson has been a comrade-in-arms throughout most of the adventures told in this book. Brady persuaded me to stay on the Bankruptcy Commission. I didn’t know it then, but that decision would shape the rest of my life. He has been the critical behind-the-scenes counselor through all my battles in Washington. Over time, I have learned that Brady had the steadiness born of a good heart and that he possesses the kind of keen judgment that is rare in any human being. He helped with the book, and he helped even more with the struggles that are chronicled here, and I will forever be in his debt.

When I thank those who helped advise, guide, or propel me through the events of this book and who helped me write it all down, I need to reserve a special place for my big brothers. My first memory of Don Reed was when he left for the service and then of his wedding. He was adventurous and dashing, and his very existence was like a distant light. John, big and kind and sweet, always offered the constancy of family and the love that would be there no matter what. And David, always faster and smarter and funnier than anyone I ever knew, taught me to live every minute right out to its edges. But most of all, with three big brothers, I learned early that I could hang back and disappear or I could fight for my place at the table.

Through the years, my son, Alex Warren, has made his own special contributions, always in his own unique ways. He is quick and insightful, always willing to challenge conventional wisdom from any direction. He has been my go-to guy on data and technology issues for years, and he has worked all the way through my books, arguing over ideas and reminding me on occasion that I’m still not that funny. Alex sharpens my thinking and makes life far more interesting.

And then there’s Bruce Mann. When I married Bruce, I got me the best. I am grateful all the way down to my toes for having had the good fortune to meet him and the good sense to grab him and hold on tight. Bruce has about a million good qualities, but in the context of this book, I should note one in particular: he has never once discouraged me from taking on a fight. Besides, he’s a great kisser. Without Bruce, I would never have written this book, or, far more important, never have undertaken most of the adventures that are chronicled here.

I saved one very special thank-you for the closing of this book: the people I have the enormous honor to represent in the United States Senate. I had been a senator for just three months when two bombs tore through our Boston Marathon celebration, leaving a wake of terrible deaths, life-altering injuries, and heartbroken families. In the hours and weeks afterward, the deep resilience and unbreakable spirit of the people of Massachusetts were evident to the world, as we pulled together as one people and sustained one another in a time of deepest pain. Every single day I appreciate even more the kindness, wisdom, generosity, and tenacity of the people of this great commonwealth, and I am grateful they have asked me to give them voice in Washington.

ALSO BY ELIZABETH WARREN

All Your Worth:

The Ultimate Lifetime Money Plan

(coauthored with Amelia Warren Tyagi)

The Two-Income Trap:

Why Middle-Class Parents Are Going Broke

(coauthored with Amelia Warren Tyagi)

The Fragile Middle Class:

Americans in Debt

(coauthored with Teresa A. Sullivan and Jay Lawrence Westbrook)

As We Forgive Our Debtors:

Bankruptcy and Consumer Credit in America

(coauthored with Teresa A. Sullivan and Jay Lawrence Westbrook)

About the Author

E
LIZABETH
W
ARREN
is the senior senator from Massachusetts. A former Harvard Law School professor and an expert on economic issues, she is the author of nine books, including
All Your Worth: The Ultimate Lifetime Money Plan
and
The Two-Income Trap: Why Middle-Class Parents Are Going Broke
, both written with her daughter, Amelia Tyagi. She is widely credited with developing the idea for the Consumer Financial Protection Bureau, and she helped set up the new agency as an assistant to President Obama. She also served as chair of the TARP Congressional Oversight Panel and as the senior advisor to the National Bankruptcy Review Commission. The mother of two and grandmother of three, she lives in Cambridge, Massachusetts, with her husband, Bruce Mann.

A Fighting Chance. Copyright © 2014 by Elizabeth Warren. All rights reserved. For information, address Henry Holt and Co., 175 Fifth Avenue, New York, N.Y. 10010.

www.henryholt.com

Cover photograph by Kelly Campbell

The Library of Congress has cataloged the print edition as follows:

Warren, Elizabeth.

A fighting chance / Elizabeth Warren. — First edition.

pages cm

Includes bibliographical references and index.

ISBN 978-1-62779-052-9 (hard cover) — ISBN 978-1-62779-053-6 (electronic book)

1. Warren, Elizabeth. 2. Women legislators—United States—Biography. 3. Legislators—United States—Biography. 4. United States. Congress. Senate—Biography. 5. United States—Politics and government—2009– I. Title.

E901.1.W37A3 2014

328.73'092—dc23

First Edition: April 2014

Table of Contents

Book of Colleges

Chapter 7

Chapter 11

Chapter 13