Elizabeth Warren campaigns in MA
Elizabeth Warren is running for the US Senate in Mass. and came by Casey’s Diner Monday at lunchtime, a stop among many. Eventually the campaign will heat up as a lot of money is being raised, and the summer ends.
Ezra Klein of the Washington Post interviewed Elizabeth Warren this Monday as well. Here is part of the transcript with questions and answers regarding JP Morgan and Jamie Dimon from the wonky economic policy and regulatory angle:
EK: That gets us to the Volcker rule, which is what would keep banks that get that guarantee from gambling with customer money and a federal backstop. But at this point, I don’t think very many people — even people who follow this stuff quite closely — have a very specific sense of what the difference between a good and bad Volcker rule is. So how do you think about that?
EW: I’m going to reframe it slightly: Who profits from the complexity of the Volcker rule? It’s the largest financial institutions. No financial institutions want a simple Volcker rule. They want layers and layers of complexity because it’s in complexity that there are loopholes. That’s where it’s possible to back up regulators who are not quite certain about the ground they stand on. And it’s a larger problem with our regulatory structure: Complexity favors those who can hire armies of lobbyists and lawyers. The big push I made at the Consumer Financial Protection Bureau was simple rules. Simple mortgage documents. Simple credit card agreements. Because complexity creates too many opportunities for an army of lawyers to turn the rules upside down.
EK: I agree that complexity is where lobbyists and lawyers work their dark magic. But when I talk to people in the industry about this, they say that simple rules sound great, but they’re not really possible. It’s hard to distinguish a hedge from a bet, or a speculative trade from a legitimate one. The world is complex, and that’s why regulators and politicians who don’t like Wall Street and don’t like being browbeaten by lobbyists end up allowing complex rules, too.
EW: Here’s another way to look at what you just described: That’s the strongest argument for a modern Glass-Steagall. Glass-Steagall said in effect that hedge funds should be separated from commercial banking. If a big institution wants to go out and play in the market, that’s fine. But it doesn’t get the backup of the federal government. If it’s too complicated to implement the Volcker rule, do you say we give up and let the largest financial institutions do what they want? Or do you say maybe that’s the reason we need a modern Glass-Steagall?
EK: What about breaking up the big banks?
EW: You’re approaching risk from two different directions. One is the risk of the activity. That’s the Volcker rule. The other direction is to say risk is an assumption of size. Community banks shouldn’t have to deal with complex regulatory oversight, but the largest institutions should be subject to far more aggressive oversight and have to pay more for the protections they receive from the American taxpayer. Then shareholders may decide to invest in institutions that are not so large.
Please Elizibeth don’t fly in small airplanes are you campaign.
Fat Fingered Typing. Lets try again.
Please Elizibeth don’t fly in small airplanes as you campaign.
She still 1/32 Native American or has she dropped that?
Islam will change
Buff she never claimed Native American status on any job application nor has anyone shown any such status ever was a factor in any promotion AND it turns out that she actually does have a minimal quantum of Native American ancestry (like literally millions of Americans who vaguely reference their Cherokee great-great-great something) so what the fuck difference does it, did it or would it make? And why on earth be a subject for a “Bwahahaha!”
The same morons try to blow up a Rev Wright-Bill Ayers-Sotomayer-Columbia Hidden Records-Secret Pakistani Trip fantasy narrative to cast Warren as being just another conspiracy affirmative action hire just because they are the kind of hateful pricks that no doubt laughed their asses off at the “two pigs-good trade!” ‘joke’
The Right has gone all in on the meta-narrative of “Where there is smoke, there MUST be fire” even where all the evidence is that Jerome Corsi and James O’Keefe and friends just have military grade smoke projectors stuck right up their asses and cranked up to 11.
Elizabeth Warren, aka Fauxcahontas, is ‘um heap big liar.
So this is the best criticism that the Brown campaign and the right wing nuts can come up with to down grade Warren’s credentials. They might be making the same fuss if Warren had never acknowledged the minute degree of heritage, but they would have then claimed that she was hiding a flaw in her purity rating. Then she would have been hiding the fact that she wasn’t of pure bred northern European stock and the blue eyes and blond hair was just a ruse. On the AB site I expect stupidity like thhis from sammy. I keep thinking that buff is made of better material, but he keeps proving himself to be an ignorant ideologue. I guess I keep thinking that he held some important post in the mililtary and that must mean he’s not a jerk. I guess I’m wrong.
The Republican Party has no real game to play that would suggest that they are worthy of taking part in governance. They keep saying that they want to reduce the government to an ineffective size, that they want to “strangle” the government out of their existence. They lie about almost every aspect of governing over that past decade. But that’s the Nixon strategy come full circle. Lie often enough and the lies become accepted as though they were facts by the people listening with half an ear, backed by half a brain. We’ll all end up suffering for their deceit and deception. Romney is just the most recent and blatent of the leadership of a dishonest organization that can’t retain power by portraying the world as it is and so needs to play Orwellian games with reality.
Warren is actually not part Cherokee.
(More links from there)
And it makes a HUGE difference becuase of Democrat led racial bias in hiring, Federal contracts, and even college scholarships.
At one point we thought that my kids would be 1/32 Native American (my mothers great-grandfather). For my oldest it would have given him automatic acceptance into the UNiversity of Texas and a free ride with his SAT/ACT and HS scores. A roughly $100K value. Same with the college he went to. But since it looks like he’s 1/32 gypsey he pays full frieght.
He doesn’t look native american, has had no NA connection than any other white kid, but if I could have prioved that I would have saved $300,000+ putting my 3 kids through college.
So explain to me why the its legal to openly discriminate based on race in 2012? Oh yea, becuase its the Democrat parties core principles is to continue race-based discrimination.
Tell me why some dirt-poor white kid gets no help while Obama’s kids will be offered massive scholarships just based on the color of their skin?
And you really don’t think Warren traded on her minority status? If she didn’t her employers sure did and she did nothing to dissuade them.
And the rumors on the lefty web-sites is the Dems may be looking to replace her on the ticket. Sounds like NJ redux.
Islam will change