Elizabeth Warren: Markets Need to Be Regulated

Elizabeth Warren explains the need to hold financial institutions accountable, and responds to accusations of "socialism."

Also, watch Warren explain how the middle class could become a thing of the past if we're not careful:
http://www.youtube.com/watch?v=yRA21dgvU60

And see her detailed explanation of the mismanagement of bailout money.

Category:

News & Politics

Tags:

• Elizabeth Warren
• Massachussets
• Dan Rather
• CFPB
• Financial Services
• Banks
• Bailout
• TARP
• De-regulation
• Regulation
• Recession
• Economic Crisis
• economy
• reserve

[marilynr46]

Even some of the Republican Candidates for President have been listening to Elizabeth Warren. Before he dropped out, Huntsman brought up the issue of the "too big to fail" banks in his last debate. Romney has mentioned it too. This is not a partisan issue. The question Elizabeth asks is this: "Why aren't the banks doing "banking"? And, If they are not doing "banking", then why are they taking taxpayer dollars?" She has a point.

[zyxek]

@marilynr46 I agree. Re-instating Glass-Steagal, which was repealed under, Clinton, wold be a step in the right direction.

[zyxek]

@GuyFawkes40 Yes, because offending half the country with an honest assessment of our economic situation is "cowardly." You've bought into a false dichotomy if you think that there's free markets on one end and socialism on the other, with nothing in between.

[satyricon451]

@GuyFawkes40 You must be trolling. The bulk of this clip is a reasoned assessment of market behavior. She's not pounding upon the desk saying regulation, regulation, regulation! She's saying we've tried regulation in the past. It worked. It stabilized the economy. Then as soon as we started reducing it, market instability started to increase. And what's worse is that the investors and speculators took everyone down with them. Listen to it again.

[s9z9s]

@zyxek

Community Reinvestment Act, Federal Housing Enterprises Financial Safety and Soundness Act, Community Development Financial Institutions Fund, all the information is out there.

[zyxek]

@s9z9s [citation needed]

[s9z9s]

@zyxek

Except that it's socialism and big government which created the crisis we're in in the first place. If you want to see what caused the housing bubble, look no further than government money pumped into the housing market and regulation forcing banks to give out loans to those who couldn't afford to pay them back.

[marilynr46]

@Arcturistheballer Watch the Tube Video ELIZABETH WARREN MAKES TIMMY GEITHNER SQUIRM OVER AIG AND GOLDMAN SACHS BAILOUTS.

[marilynr46]

@Arcturistheballer Elizabeth did not play any part in the allocation of funds. She investigated TARP and found that the banks got better treatment than the auto companies. Of the money that AIG received, she discovered that 13 billion of it secretly went out the back door to Goldman Sachs investors who were holding credit default swaps. And what's worse, what Paulson described as a "par transaction" or an "investment" on the part of the taxpayers, missed by about 78 billion dollars.

[Arcturistheballer]

@marilynr46 She was one of five people on the tarp oversight committee appointed in 2008. She had an enormous amount of power on that committee. The fact that there is money missing and the ineffectiveness of the program speaks volumes to my point, shes cancerous to the nation.

[marilynr46]

@Arcturistheballer She did not play any part in the allocation of the money to the banks. That was Paulson and Geithner who handled that. Elizabeth Warren was hired to come in after the bailout was done. Her job was to chair the congressional oversight committee on TARP. In other words, she investigated the actions of Geithner Paulson, the Fed and Treasury She found that there is 78 billion dollars missing (taxpayer dollars) Treasury has no idea where this money went. It went no strings attached

[marilynr46]

@Kiarip Sorry, she's right. You are wrong. She's brighter than you (you're obviously a paid troll). Go post something positive on Scott Brown's sites. He really needs your help.

[Kiarip]

@satyricon451 Actually she's completely wrong.

Her assessment of economic behavior makes it seem like the US was becoming most prosperous post-WW2, when in reality the wealth increased the fastest in the late 1800s and early 1900s, of course there were market crashes but were always result of states giving charters to banks to let them print money. Easy credit is the cause of the business cycle, not lack of regulations.

[Kiarip]

@zyxek a step in the right direction would be to stop manipulating interest rates