I really do like what Warren has done up to this point, but I find the “special advisor” role to be something of a cop-out by Obama and a co-opting of her. We’ll see what she can actually accomplish, but I expect that she will hold her tongue in public out of “loyalty” while Obama and his cadre of Wall Street cronies ignore her publicly and privately.
Her acceptance of such a marginal role in the administration the credibility of the administration at the expense of hers.
I think it would be nice to have simpler financial bills and arrangement. But in terms of the financial collapse the “nice” is not relevent to mitigatating future over lending that took place. The consumer is of one of the villians in this story along with back ally retail brokers. Now we want to protect the villian? No wonder the tea party are cleaning their clocks.
There are quite enough villians in the current mess to go around. Yes a number of consumers lied on mortgage apps, and a number had lies manufactured for them. The fundamental problem is that we have built a system that is to complex for a lot of people to understand or take the time to understand. We need to start with teaching folks if you don’t understand ask, its not stupid to say you do not understand and request clarification. Secondly if something sounds to good to be true it probably is. Now the thing Wall Street may be scared of is teaching folks to be paranoid about anyone trying to sell them any financial product. (IMHO a great idea, they all care about their commissions much more than the customer)
The Tea Party is “cleaning” clocks for the same reason that consumers cannot be seen as a villain in all this–truth is that the consumer/voter is, on the whole, not very smart. That’s the reason we need government regulations to protect them from exploitation. Listen to the message: 50 years without a major crisis when appropriate regulations are in place to protect the average person.
Wall Street was just moving money. It’s their job. So how does that make all those people behind computers matching borrowers with lenders the villians in this story?
I really do like what Warren has done up to this point, but I find the “special advisor” role to be something of a cop-out by Obama and a co-opting of her. We’ll see what she can actually accomplish, but I expect that she will hold her tongue in public out of “loyalty” while Obama and his cadre of Wall Street cronies ignore her publicly and privately.
Her acceptance of such a marginal role in the administration the credibility of the administration at the expense of hers.
I think it would be nice to have simpler financial bills and arrangement. But in terms of the financial collapse the “nice” is not relevent to mitigatating future over lending that took place. The consumer is of one of the villians in this story along with back ally retail brokers. Now we want to protect the villian? No wonder the tea party are cleaning their clocks.
There are quite enough villians in the current mess to go around. Yes a number of consumers lied on mortgage apps, and a number had lies manufactured for them.
The fundamental problem is that we have built a system that is to complex for a lot of people to understand or take the time to understand. We need to start with teaching folks if you don’t understand ask, its not stupid to say you do not understand and request clarification. Secondly if something sounds to good to be true it probably is.
Now the thing Wall Street may be scared of is teaching folks to be paranoid about anyone trying to sell them any financial product. (IMHO a great idea, they all care about their commissions much more than the customer)
The Tea Party is “cleaning” clocks for the same reason that consumers cannot be seen as a villain in all this–truth is that the consumer/voter is, on the whole, not very smart. That’s the reason we need government regulations to protect them from exploitation. Listen to the message: 50 years without a major crisis when appropriate regulations are in place to protect the average person.
Wall Street was just moving money. It’s their job. So how does that make all those people behind computers matching borrowers with lenders the villians in this story?
Someone manufactured the products.