What Elizabeth Warren Missed in Her Big Bank Tirade

[NACBA]

This is one of the frustrating things about people who I believe legitimately care about reigning in crony capitalism on what is called the “Left” in this country. They seem always to want more of the thing which enables crony capitalism – government.

Crony capitalism can not happen without government. Government is the lever which cronies use to expand their power and wealth.



My friends on the “Left” fret about “corporations taking things over” if government is reduced. As if government is some kind of counterweight to corporate power. It is not. For the most part government is a tool of special interest power (and about equally the reverse.) It’s a partnership.

The key is to decentralize. Diffuse the power in Washington (and other capitals) and move it as much as humanly possible back to real live humans.

We don’t really need much government at all.

Below are the things which I think most people want and which I believe they are willing to pay for with taxes. (This is not necessarily my list. Much of this can be done by the private sector on a voluntary basis but I am conceding some things here because we are talking politics not theory.)

1. Roads.

2. Basic help for the truly indigent.

3. Defense.*

4. A system of courts.

5. Police.

6. I’ll even throw in schools – but not like the system we have now.

http://www.againstcronycapitalism.or...g-bank-tirade/

[muh_roads]

Yeah she's not perfect but I'd take her over Hillary any day. Warren is someone who I could actually see fulfilling something similar to a proposal by Alan Grayson years ago called "The War is Making You Poor Act".

https://www.youtube.com/watch?v=t0_TtYQEDTo

[muh_roads]

Yeah she's not perfect but I'd take her over Hillary any day. Warren is someone who I could actually see fulfilling something similar to a proposal by Alan Grayson years ago called "The War is Making You Poor Act".

https://www.youtube.com/watch?v=t0_TtYQEDTo

[NACBA]

She needs to meet with Lloyd Blankfein's Boys like Rand did

[ILUVRP]

Yeah she's not perfect but I'd take her over Hillary any day. Warren is someone who I could actually see fulfilling something similar to a proposal by Alan Grayson years ago called "The War is Making You Poor Act".

https://www.youtube.com/watch?v=t0_TtYQEDTo

i agree , hillary would try to out do maggie , the iron lady .

[Lucille]

Indeed.

You might also recall her (and the left's) support of Barry's Big Fascist Medical System, written by and for the benefit of the Medical Industrial Complex.

"How Naive is Elizabeth Warren?": When it comes to ending cronyism, *endlessly*
http://reason.com/blog/2014/12/18/ho...ren-when-it-co

If you’re Elizabeth Warren, the answer is endlessly. Earlier this year, for instance, she colored herself aghast that Dodd-Frank, a truly gargantuan pile of words championed by Barack Obama and a Democratically controlled Congress, wasn’t working out so well, especially when it came to dispersing concentration in the financial sector. “The four largest banks are nearly 40 percent bigger today than they were just five years ago,” she observed. “These banks…are a whole lot bigger now than they were when we bailed them out in 2008 because they were too big to fail.”

None of this would have surprised [left-wing historian Gabriel] Kolko, who died earlier this year, or [public-choice economist and Nobel laureate James] Buchanan, who died in 2013. This sort of outcome is the rule, not the exception, whether we’re talking about railroads, financial institutions, or “disruptive innovators” such as Uber, which is now starting to collude with municipal governments to make life tougher for its rivals....

With Congress on break, Warren would be wise to read up on Kolko in particular, as he shared many of her larger ideological beliefs while coming to a deeper understanding of regulatory capture:

One thing that leftist historians such as Gabriel Kolko and public-choice libertarians such as Nobel laureate James Buchanan agreed on is that regulatory bodies are routinely and perhaps inevitably “captured” by the very people and businesses they’re supposed to oversee. Back in the 1960s and early ‘70s, Kolko infuriated good-government types with his revisionist take on one of the most clear-cut triumphs of the Progressive Era: the regulation of interstate railroads. Paralleling the arguments of Buchanan and other libertarians, Kolko said that, whatever complaints they may have had about federal oversight, rail barons quickly realized they could lock in their market advantage most effectively through regulation. “It was not the existence of monopoly that caused the federal government to intervene in the economy,” he argued, “but the lack of it.”

Read the whole thing.

[juleswin]

She needs to meet with Lloyd Blankfein's Boys like Rand did

Why? its not like she has shown any reason for the banks not to trust her. Look at the sort of bills she has supported. TRP, Ex-Im etc except for her words which means very little. My guess is that the banks already own her and have no need to talk to her.

[acptulsa]

Amazing how non-transparent she is.

http://www.opensecrets.org/politicia...33492&newmem=Y

Though we know Wall St. gave her over five million a few years ago.

[juleswin]

Yeah she's not perfect but I'd take her over Hillary any day. Warren is someone who I could actually see fulfilling something similar to a proposal by Alan Grayson years ago called "The War is Making You Poor Act".

https://www.youtube.com/watch?v=t0_TtYQEDTo

Geeze, when will you ever learn? This was Obama before Obama became Obama, remember he was against the im-ex bank, using executive orders, against raising the debt limit, against the wars, against mandated insurance and a lot of other decent policies that made him appealing to younger and independent voters and then he turned once he entered the white house. Yes, Obama was better than Hillary in the campaign but now he is just as bad if not worse than Hillary. Give Ms. Warren time to show more of her true colors.

Also remember, she was a republican up until 1995. She just figured out a new way to sell her self to the masses. She is not genuine and should not be trusted.