Wednesday, April 06, 2016

Republicans learn the hard way that when they hold a hearing to rail against Wall Street reform, they may want to lock the doors before Elizabeth Warren walks through them.

Courtesy of Salon: 

On Tuesday, Senate Republicans on the Banking Committee decided to finally hold a hearing to “assess the effects of consumer finance regulations”– little more than another attempt to rail against Wall Street regulation like the Dodd-Frank law. Ostensibly, the hearing would have granted Republicans the opportunity to shed their “do nothing” image while simultaneously continuing to espouse their mantra of deregulation. Too bad Elizabeth Warren also showed up for her day job on Tuesday, completely eviscerating the Republicans’ main witness and destroying their tired talking points. 

“Of all the people who might be called on,” Warren said of Republicans’ lead witness Leonard Chanin, former Deputy Director of the Division of Consumer and Community Affairs at the Federal Reserve Board, “I am surprised that my Republican colleagues would chose a witness who might have one of the worst track records in history on this issue.”

I actually thought that Warren would climb over her lectern and throttle Chanin when he claimed there was no data that predicted that the mortgage bubble was about to crash.

Warren is a rock star and I am still holding out for the idea of Hillary Clinton picking her to join her on the Democratic ticket in 2016.

P.S. By the way if you want a real understanding of the 2008 financial crisis I cannot suggest a better source than the 2015 movie "The Big Short."

I watched it last week and it is excellent and just a little tirade inducing.

39 comments:

  1. Anonymous2:22 PM

    We do not want Elizabeth Warren in the role of vice president, silently attending state funerals and standing behind the president as she makes announcements. We want Elizabeth Warren in the senate, hopefully with a Democratic majority, so that she can chair the committee, run the committees honestly, and write good legislation. Do not silence Elizabeth Warren by placing her in the role of vice president!

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    Replies
    1. Agree 100%. Don't muzzle that voice for the American people.

      Delete
    2. Anonymous3:29 PM

      Senate Majority Leader, please!

      Delete
    3. Anonymous4:18 PM

      Hillary Clinton and Elizabeth Warren would be a dynamic team and their ticket would win, win, win!

      Delete
    4. Anonymous4:53 PM

      She wouldn't be silenced. But she will be much more effective staying where she is. And that seems to be exactly where she wants to be.

      Delete
    5. Absolutely.

      And Warren knows she is much more valuable and doing what needs to be done for the good of the public by continuing as a Senator than becoming a VP.

      She has no interest in being president so there is no reason for her to be a VP, which is often just a stepping stone to run for president in the future.

      She wields much more power as a Senator than she would as vice president.

      Delete
    6. Anonymous7:08 PM

      2:22, 3:08 and 6:09

      I absolutely agree !

      Delete
    7. Anonymous9:59 PM

      Don't dim this voice or turn the volume down. She is the only one with the guts and NO worries about repercussions for "telling it like it is" and making the political and corporate criminals accountable.

      Hillary will never be in a position, or have the moxie to take the big banks or corporations to task like Elizabeth. She is more valuable to us than any other politician out there.

      Delete
  2. Anonymous2:33 PM

    Can you imagine a debate between Elizabeth Warren and Sarah Palin?

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    1. Anonymous4:17 PM

      Oh, but that would be a hoot!

      But, Sarah Palin would never accept an invitation due to knowing she'd be sliced to ribbons by Elizabeth Warren!

      Would be so much fun to watch though!

      Delete
    2. No. The laws of physics state such an event is an impossibility.

      Delete
  3. Anonymous2:43 PM

    Barack Obama Just Cracked Down On Wall Street

    After six years of debate and lobbying, the Labor Department rolled out a major new regulation on Wednesday that will require virtually all financial advisers to legally act in their clients’ best interests.

    Known as the fiduciary rule, the new standards are aimed at cutting down on the unnecessary fees that Americans pay to brokers who advise them on their retirement investments. The White House says the rule will address a fundamental conflict of interest within individual retirement accounts, or IRAs — that many brokers, who aren’t legally bound to act in their clients’ best interests, have a financial incentive to shepherd clients toward investments that come with high commissions, regardless of whether it’s right for the customer.

    http://www.huffingtonpost.com/entry/barack-obama-retirement-rule_us_57052f97e4b05376618854c0

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    1. Anonymous2:57 PM

      Wait a minute. You're saying Pres. Obama is issuing another finance industry reg. in spite of receiving campaign contributions from Wall Street and big bank folks?

      Delete
    2. Meep. Meep. Obama does it again. :D

      Delete
    3. Anonymous4:04 PM

      The new finance law only covers retirement accounts, but it is a start.

      Delete
    4. Anonymous4:15 PM

      2:57 PM ALL politicians get financial aid from Wall Street members. To include Bernie Sanders!

      Delete
  4. Anonymous2:43 PM

    Slam Bam, Thank you Mam ! Never, ever have I seen a man being castrated so artfully.

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    Replies
    1. Anonymous3:42 PM

      About Damn Time!!!!
      Senator Warren called his Ass out to the woodshed with that reproving on that prick piss ant. Scourged!
      ;-)
      P.s. Alan Greenspan NEXT!

      Delete
    2. Anonymous4:14 PM

      No, Donald Trump next! She'd cream his ass for sure!

      Delete
  5. Anonymous2:44 PM

    The book has more info, Jesse.

    Birdbrain

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    1. Birdbrain, about the book ... are you referring to "The Big Short", or another book? I just put the book in my Amazon cart. You've read it? Lewis is a wonderful author, but is it an ea as you read? I'm an old lady who has zilch understanding of big finance. Thanks. About Elizabeth Warren, she Tweets during these hearings. Very informative, too. If you don't follow her, you should. Nowadays, all her Tweets show up in my Text Messages. LOL, when the texts start rolling in, my text message notifier goes crazy in sound. When my phone starts buzzing, I now know it's Elizabeth on an important cause. Boy oh boy, I sure love her. I sat in on a phone conference with her the other evening (by MoveOn.org) regarding the Republican SCOTUS obstruction. How she manages to be so well informed, so effective, and so accessible is beyond me. But I appreciate her, and her work, and her standing in the Senate to move us further to sanity on the left. Sorry to ramble on, & I hope my spellchecker didn't autocorrect stupidly. Hahaha! Gotta love autocorrect (I secretly hate it!) LOL

      Delete
  6. TwoBlueJays3:34 PM

    I also agree that she's most effective in a legislative role - she's got the intellect and the drive to bring about [some] change in Congress. I wanted to smack Chanin for his lying smirk. Grr.

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  7. Anonymous3:34 PM

    Elizabeth is my queen.

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  8. Anita Winecooler3:36 PM

    How refreshing to see a woman doing her job and doing it so well. In essence, she disarmed and castrated him while doing it, and he STILL hasn't figured it out. I hope she's put in a position of power in the new administration, no one's earned it nor deserves it more.

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  9. Anonymous3:38 PM

    Ouch!!! You go, Senator Warren!!!

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    1. Anonymous3:51 PM

      OT:Ouch>
      http://www.thedailybeast.com/cheats/2016/04/06/texas-school-cop-slams-girl-on-concrete.html

      Delete
  10. Anonymous3:48 PM

    How can you not admire that woman?

    ReplyDelete
    Replies
    1. Try being one of the Scott Brown, keyboard warriors over at masslive.com. They abhor her because they are, quite frankly stupid, fearful, immature and blindly by party lines.
      Senator Warren is fantastic and should not be VEEP. I don't think I've ever used the word 'eviscerated' until today. Man oh man, what a force.

      Delete
  11. Anonymous4:01 PM

    Dang she's good. Unlike the media, when he didn't answer the question she brought him back 3 times. Beautiful.

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  12. Anonymous4:11 PM

    Hillary won't pick Elizabeth because ole Hil' won't share the spotlight with anyone likely to upstage her.

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    Replies
    1. Anonymous4:50 PM

      What exactly do you base that on? Absolutely nothing.

      Delete
  13. Anonymous4:14 PM

    I don't like to idolize politicians because then later when they screw up, I realize they are just human. I remember an interview of John Edwards and his wife. They were being sung into the would be's, and I kinda bought the story. Then the guy turned out to be the worst filth known to mankind. Damn. Now this Elizabeth, she's a sturdy fighter. Hope she keeps the truth, and determination as her mantra. Hate to ever see her get tarnished. But my heart trust no more. But, I like what I see and hear of her.

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    1. Anonymous4:22 PM

      I got fooled by the Edwards too. I'm sure lots did. Never got fooled by the Obamas though - they have lived up to the expectations and more.

      Delete
  14. Anonymous4:27 PM

    Harvard Law School professor and U.S. Senator, this woman is gold. I wish she would have run for President because she would have my vote.

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  15. Anonymous4:33 PM

    Does anybody know who the two guys are behind Chanin, both wearing glasses? They look like brothers. Lobbyists? If anyone knows, please post it for all of us.

    ReplyDelete
  16. Scruffer7:22 PM

    Elizabeth Warren is waaaaay more useful to the progressive agenda as a US Senator. I sure hope (and expect she won't)she won't join on any ticket.
    She'll be a Senator of the ages, much like Kennedy.
    I love her and wish the Democratic Party as a whole would support more candidates like her!
    The Democratic Party as a whole needs to wise up on the progressive wish of the voters!

    ReplyDelete
  17. Anonymous8:04 PM

    Tell it like it is Liz! She is THE most valuable legislator in the country, bar none.
    If you are part of the 1%,you would find her ideas and legislation contrary to your continued piggish lifestyle. Think Animal Farm.

    I'd love to see her as VP, but her mission is to stop Wall Street from completely annihilating the middle class. Keep her in the Senate and bring back the D majority.

    ReplyDelete
  18. Linda8:40 PM

    I love Elizabeth Warren, but I agree that she is way more valuable in the position she currently holds. I cannot see her enjoying being the VP and, frankly, she does not play politics well enough to be the VP or, at some point, the President. God forbid she disagree with the President while sitting as VP.

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  19. Randall6:47 AM

    I haven't seen "the Big Short" yet
    but I read the book, and the depth and breadth of greed and cynicism that was rampant during the Bush years is staggering.
    The de-regulators damn near blew up the economy of the entire world -- and they're running on doing the exact same thing.
    When will the voters learn that the ultra-rich (Beck, Limbaugh, O'Reilly, Congress, et. al.) are LYING to them?
    ...and the Tea Party's answer to the problem?
    ELECT A BILLIONAIRE TO RUN THE COUNTRY!
    It takes one's breath away...

    ReplyDelete

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