Sen. Elizabeth Warren (D-MA) has a well-documented history of working for the benefit of the big corporations she routinely rails against, largely building her multimillion-dollar fortune by assisting corporations in navigating the bankruptcy laws she helped pen, Breitbart News senior contributor, bestselling author, and Government Accountability Institute (GAI) President Peter Schweizer reveals in his investigative bombshell Profiles in Corruption: Abuse of Power by America’s Progressive Elite.
Because of her legal expertise on bankruptcy laws, Warren advised the National Bankruptcy Review Commission in 1995, acting as a “key advisor on an obscure but profoundly important section of the bankruptcy law called U.S.C. 524(g), which dealt with mass tort bankruptcies of corporations and had to do specifically with asbestos companies.” She would go on to advise companies facing such troubles and financially benefit from their legal woes. She made $212,000 by assisting insurance giant Travelers, which sought immunity from asbestos-related lawsuits, alone.
The revisions to the laws she helped author “had enormous positive ramifications for America’s largest corporations,” allowing “financially healthy corporations to start using bankruptcies as a way to avoid liability from legal suits,” Profiles in Corruption details.
Warren parlayed her experience in crafting U.S. bankruptcy laws into a highly lucrative career by consulting corporations on the laws she helped write and charging them large sums of money for her services.
“It was the ultimate Washington leverage move,” Schweizer writes.
“Warren’s legal consulting work radically contradicts the claims she makes that she is a fighter for the middle class and against corporate America,” Schweizer explains. “Indeed, she was well compensated for more than a decade providing legal testimony for corporations attempting to avoid pension obligations and paying victims.”
Warren leveraged her legal expertise in corporate bankruptcy law by advising companies like Dow Chemical, Travelers, and LTV Steel — all of which were seeking bankruptcies to avoid liabilities from pensions or lawsuits – READ MORE