Let's hope Elizabeth Warren gets "The Colbert Bump"
Famed comedian and talk show host Stephen Colbert has long acknowledged “The Colbert Bump,” meaning the increased popularity of a person, website or issue after appearing as a guest or discussed on his show, The Colbert Report.
Here’s hoping that’s the case after last night’s show, because Colbert discussed a few issues near and dear to our hearts here at Public Citizen.
First, he discussed the new Consumer Financial Protection Bureau, created with the new Wall Street reform law, and mentioned Elizabeth Warren as liberals’ pick to head the new agency. (Public Citizen thinks she should.) But then — BAM — Colbert plays a clip of Warren discussing another Public Citizen issue: complicated credit card agreements laden with traps for consumers, or more generally, forced arbitration.
In a taped segment from 2009, Warren denounces current credit card agreements for trying to take advantage of consumers.
“A typical credit card contract today is nearly 30 pages long,” she said. “Back in 1980, it was about a page and a half long. That additional 28 pages is mostly full of tricks and traps.”
“Tricks and traps?” Colbert countered. “My credit card contract is perfectly clear,” he said as he pulled out a magnifying glass to read his copy. He continued to spit out a torrent of unintelligible legalese as the audience started laughing. Yes, perfectly clear. “That just means, if I don’t make my payment in time, I have to confess to the murder of a drifter,” Colbert clarified.
This clip from the show concludes with an interview with Rep. Barney Frank (D-Mass.), chairman of the House banking committee, to discuss the CFPB. They have a great back and forth that’s definitely worth watching.
Learn more about the consumer bureau, sign a petition supporting Elizabeth Warren to lead it and read more about Public Citizen’s work on forced arbitration.