NACBA
12-17-2014, 01:57 PM
On President Obama: Warren praised Obama for the creation of the Consumer Financial Protection Bureau, a federal agency aimed at enforcing consumer protection laws.
But she told Salon that "there has not been nearly enough change" in the wake of the U.S. financial crisis.
"He picked his economic team and when the going got tough, his economic team picked Wall Street. ...They protected Wall Street. Not families who were losing their homes. Not people who lost their jobs. Not young people who were struggling to get an education. And it happened over and over and over."
In some ways that’s exactly the problem. When I talk to people, they often say Democrats aren’t the party of working people at all. And they talk about NAFTA and deregulating Wall Street, and they say, look at these guys, they won’t prosecute the financial industry. They say, Democrats talk a good game, but they’re always on the side of the elite at the end of the day. What do you say to these people?
We’re the only ones fighting back. Right now, on financial reform, the Republicans are trying to roll back the financial reforms of Dodd-Frank. In fact, Mitch McConnell has announced that if he gets the majority in the Senate, his first objective is to repeal healthcare and his second is to roll back the financial reforms, and in particular to target the Consumer Financial Protection Bureau — the one agency that’s out there for American families, the one that has returned more than four billion dollars to families who got cheated by big financial institutions. That’s in just three years.
So, Democrats have not done all that they should, but at least we’re out there fighting for the right things. We’re fighting and I think trying to pull in the right direction. So if the question is, hold us to a higher standard, man, I’m there. You’re right. [If] you want to criticize and say, “you should do more!,” the answer is: Yes, we should! You bet! We should be stronger. We should be tougher. But understand the difference between the Democratic Party and the Republican Party right now. It’s pulling as hard and fast as it can in the opposite direction.
http://www.salon.com/2014/10/12/exclusive_elizabeth_warren_on_barack_obama_they_pr otected_wall_street_not_families_who_were_losing_t heir_homes_not_people_who_lost_their_jobs_and_it_h appened_over_and_over_and_over/
But she told Salon that "there has not been nearly enough change" in the wake of the U.S. financial crisis.
"He picked his economic team and when the going got tough, his economic team picked Wall Street. ...They protected Wall Street. Not families who were losing their homes. Not people who lost their jobs. Not young people who were struggling to get an education. And it happened over and over and over."
In some ways that’s exactly the problem. When I talk to people, they often say Democrats aren’t the party of working people at all. And they talk about NAFTA and deregulating Wall Street, and they say, look at these guys, they won’t prosecute the financial industry. They say, Democrats talk a good game, but they’re always on the side of the elite at the end of the day. What do you say to these people?
We’re the only ones fighting back. Right now, on financial reform, the Republicans are trying to roll back the financial reforms of Dodd-Frank. In fact, Mitch McConnell has announced that if he gets the majority in the Senate, his first objective is to repeal healthcare and his second is to roll back the financial reforms, and in particular to target the Consumer Financial Protection Bureau — the one agency that’s out there for American families, the one that has returned more than four billion dollars to families who got cheated by big financial institutions. That’s in just three years.
So, Democrats have not done all that they should, but at least we’re out there fighting for the right things. We’re fighting and I think trying to pull in the right direction. So if the question is, hold us to a higher standard, man, I’m there. You’re right. [If] you want to criticize and say, “you should do more!,” the answer is: Yes, we should! You bet! We should be stronger. We should be tougher. But understand the difference between the Democratic Party and the Republican Party right now. It’s pulling as hard and fast as it can in the opposite direction.
http://www.salon.com/2014/10/12/exclusive_elizabeth_warren_on_barack_obama_they_pr otected_wall_street_not_families_who_were_losing_t heir_homes_not_people_who_lost_their_jobs_and_it_h appened_over_and_over_and_over/