Elizabeth Warren only takes 52 seconds to make it clear that Romney is out of step concerning economic regulations.
First, watch this segment from Rachel Maddow‘s show:
“You know, you really want to say did he hear what Jamie Dimon just said? Jamie Dimon’s own words were that this was stupid. This was sloppy, so stupid, and so sloppy that it wasn’t even picked up by a regulator. There was no one to say hey, wait a minute; I want to review your risk practices. I want to see the kind of risk that this huge financial institution is taking on, because we’re just about three and a half years past the time when you took on so much risk that you brought this economy almost to its knees. So the idea that Mitt Romney thinks that the banks are over regulated. It’s an alternative reality. It’s simply not true. The problem right now is that there’s not adequate regulation.”
Got it? Regulation (which we used to have in adequate amounts due to the abandoned Glass-Steagall Act) used to keep our economy safe. Romney supports big banks over small Americans. And which of these hold the majority vote (provided they are not conned by Tea Bag Republicans)?
It’s up to all of us to get educated and get the word out.
- ELIZABETH WARREN: Jamie Dimon Should Resign From The Fed (businessinsider.com)
- Elizabeth Warren on Jamie Dimon: NY Fed. role poses conflict of interest; ‘this is about accountability’ (cnnpressroom.blogs.cnn.com)
- Elizabeth Warren: ‘There’s Been a Guerrilla War’ on Financial Regulations (commondreams.org)
- Elizabeth Warren seeks ouster of top JPMorgan official from New York Fed (boston.com)
- After $2B JPMorgan Loss, Senate Candidate Elizabeth Warren Calls For ‘New Glass-Steagall Act’ [FULL TEXT] (ibtimes.com)
- Jamie Dimon: “I Was Dead Wrong, We Were Sloppy… Stupid” (inquisitr.com)
- Maybe Jamie Dimon Doesn’t Understand the Situation… (delong.typepad.com)
- JPMorgan’s Dimon — What, Me Worry? (thestreet.com)
- Richard Zombeck: Below the Fold: JPMorgan’s $2 Billion Fail Whale (huffingtonpost.com)
- Dimon’s Unshakable Hubris (thedailybeast.com)
The Congress is going to try and screw us by way of Big Banks… but at least we have Elizabeth Warren.
Her concern was that major banks, like Citigroup, and major Wall Street players are trying to “knife” her agency in the back… and that includes support from our Representative here in WV’s District 2, Shelley Moore Capito (R), who is chair of the Financial Institutions and Consumer Credit Subcommittee.
Warren is a very smart and intelligent woman with an agency that has very little actual power… therefore, her major strength lies in making people aware of the financial situation which has kept the middle class in financial slavery.
Warren said that the bank lobbyists and their supporters in Congress won’t be able to “knife the agency in the back alley” if they “actually believe people will pay attention, if they believe people care about this.”
To which Jon Stewart replied:
“or if they still have the capacity to feel shame — you begin to wonder at times.”
There is going to be a vote in the House Financial Services Committee next week which will delay the opening of Warren’s Agency, or, at the very least, will weaken its activities. A great many people got into the fight in public last year to set up the agency Warren will head. This year, however, the attacks against this agency are happening in secret.
Warren brought up one of her major interests, the devastating agreements that banks attach to consumer credit cards:
“There was a survey last year. Ninety-six percent of Americans said — I want to get rid of the fine print in credit card agreements and mortgages. I think it is there just to cheat me, to hide things from me. Ninety-one percent felt strongly about it. When that is the case, that’s not Democrats, that’s not Republicans, that’s not Libertarians. This is not partisan. It’s basic and sensible. This game is about trying to push the sensible part right back in the middle and say that’s what we have a responsibility to do.”
“This consumer agency is a tangible, very concrete down payment on the notion that together we can build something that is fairer, and give middle class families a chance to survive, maybe even prosper.”
– Elizabeth Warren
Even if you saw Warren on the Daily Show Tuesday night, this is one of those interviews where Stewart kept it going past the show’s end. You can see the whole interview at http://www.thedailyshow.com/full-episodes/tue-april-26-2011-elizabeth-warren . Thanks to Morgan County USA for the basic information on Capito.
- Warren defends consumer bureau on ‘Daily Show’ (money.cnn.com)
- Elizabeth Warren Talks With Jon Stewart -the Consumer Financial Protection Bureau that Congress and the Judicial System are Trying to Kill-One Nail in the Coffin Today From the Supreme Court Ruling (ducknetweb.blogspot.com)
- The GOP’s Pathetic Attack on Elizabeth Warren (alternet.org)
- Geithner: Warren still a candidate for CFPB head post (dailykos.com)
- GOP’s war on the rest of us: The consumer protection front (dailykos.com)
- Warren Shoots to Top of Short List for CFPB Job (news.firedoglake.com)
- House Grills Elizabeth Warren in Hearing over Consumer Financial Protection Bureau (legallyeasy.rocketlawyer.com)
- We are losing Our Class” The Republican Class Wars (eleftheria64.wordpress.com)
This from Taegan Goddard’s Political Wire:
- Dodd: Congress Could Defund Consumer Bureau Over Warren Interim Appointment (huffingtonpost.com)
- White House Considers Appointment of Elizabeth Warren as Interim CFPB Director (news.firedoglake.com)
- Elizabeth Warren: Rumors indicate an interim appointment to CFPB Director slot (crooksandliars.com)
If Obama names Elizabeth Warren, the Democratic base erupts like a volcano and votes…
By Brent Budowsky – 09/09/10 03:06 PM ET
Within hours and possibly minutes I expect the president will name Elizabeth Warren to lead the new consumer protection agency, and if he does, the Democratic base will erupt and turn out to vote in far greater numbers than any current poll suggests.
I could be wrong; Obama might give up at the last minute, which would be the last betrayal of the Democratic base and very possibly the death knell of the Democratic House of Representatives. But if he names Warren, the pundits be will amazed, astonished and flabbergasted by the lift this would give to the Democratic base and by the voter turnout that would follow.
If Obama names Warren, consumers would have the strongest possible friend fighting for them all day, every day, at a time of major consumer rip-offs and disastrous consumer confidence that would be lifted with the Warren selection.
If Obama names Warren, veterans and military families who have endured rip-offs and abuses would have the strongest possible friend with Elizabeth Warren.
If Obama names Warren, small business would have the strongest possible ally as she champions fair treatment by small business that has been a piñata being abused by large financial institutions.
If Obama names Warren, the momentum in the campaign would shift powerfully and immediately, with a rejuvenated Democratic base excited and fighting trim, ready to roll, ready to fight, ready to erupt with support that the selection of Warren would inspire.
Warren should be nominated through a recess appointment, not a nomination that would bring a unified Republican filibuster in the tired Kabuki dance that the American people, and the progressive base, have suffered from for far too long.
Read the rest of it HERE…
- If Obama names Elizabeth Warren, the Democratic base erupts like a volcano and votes (thehill.com)
- Obama Meets With Elizabeth Warren (oliverwillis.com)
- Obama Meets With Elizabeth Warren (blogs.abcnews.com)
Here’s a clip from the HuffPo… you probably want to go in and read the whole thing: