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Why are so many afraid of Warren? - 11/30/2012 11:23:19 AM   
tazzygirl


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Status: offline 		Wall Street and the rest of the financial industry had pumped about $6.2 million into the race in hopes of keeping Warren out of the Senate.

.........

Despite several votes that went against Wall Street, Brown received more contributions from the financial industry than any other congressional candidate running this fall. The money flowed into his campaign in great part because Wall Street wanted to keep Warren out of the Senate.



http://www.latimes.com/business/money/la-fi-mo-elizabeth-warren-scott-brown-massachusetts-senate-wall-street-20121106,0,5041290.story

This little woman seems to worry Wall Street, and quite a few posters, here a lot. Why is that?



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RE: Why are so many afraid of Warren? - 11/30/2012 11:40:45 AM   
subspaceseven


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Status: offline 		they are afraid because she is a "girl"...and they should never have power.....have you not read the GOP rules..no women ever have power.....just look at who is running the GOP and who they just appointed to chair powerful seats in the house...all old white men...they love them because they smell the same

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RE: Why are so many afraid of Warren? - 11/30/2012 2:47:11 PM   
Edwynn


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Elizabeth Warren is considered a threat, rightfully so, to the lassez-faire deregulatory "self-regulating markets" ideology that has increasingly infested and invested itself into our government over the last 30 years, across all political parties and all administrations.

She is one Democrat (unfortunately amoung too few others) who never partook of that kool-aid, and she is not so easily bought off.

In today's US political world, that is a scary thing.

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RE: Why are so many afraid of Warren? - 11/30/2012 3:10:15 PM   
Lucylastic


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Status: offline 		That and her consumer watchdog stuff scares them.... they cant make as much money if they have regulations and the consumer to stop them

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RE: Why are so many afraid of Warren? - 11/30/2012 4:49:46 PM   
kalikshama


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Status: offline 		Elizabeth Warren's Big Win Is A Crushing Defeat For Big Banks

...Wall Street‘s biggest banks likely haven’t forgotten a $20 billion suggestion Warren made in September 2011. Back then, Warren and her newly created CFPB produced a 7-page report for the 50 state Attorneys Generals who were leading the investigation on improper foreclosure procedures by Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial. In the report, the CFPB said banks dodged more than $20 billion in expenses between 2007 and 2010 by taking shortcuts when servicing troubled home loans.

At the time the report was presented the banks and AGs were engaged in settlement talks, and there were reports that the financial firms would cough up somewhere between $5 billion and $30 billion. When Warren presented her report she balked at the $5 billion figure saying it “would seem too low” considering “rough estimates suggest the largest servicers may have saved more than $20 billion through under investment in proper servicing during the crisis.”

In the end, banks ended up settling for a whopping $25 billion.

Oh, and don’t forget Warren’s calls to break up banks by reinstating a more modern version of Glass-Steagall. That’s not winning her any love from any big bank.

Read more: http://www.forbes.com/sites/halahtouryalai/2012/11/07/elizabeth-warrens-big-win-is-a-crushing-defeat-for-big-banks/

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RE: Why are so many afraid of Warren? - 11/30/2012 7:44:47 PM   
Edwynn


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Status: offline 		Nouriel Roubini et al. have laid out such plans for dismantling the too-big-to-not-be-able-to-shake-down-the-country banks, but he also points out that actually accomplishing such a task is a different matter.

One congressperson ain't going to do it.

If Warren really wants to scare the bejezus out in the financial sector, she should promote Anat Admati as head of either the FDIC, or the CFTC.

Sorry to be so un-PC and all, but the fact of the matter is that men better recognize the gain to be obtained in various 'financial innovation,' whereas the women who are truly adept at this sort of thing are better at saying "just what is this POS you're trying to slip by us, now?"

Professor Admati has my vote, whatever office she were to apply to.







< Message edited by Edwynn -- 11/30/2012 7:49:16 PM >

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RE: Why are so many afraid of Warren? - 12/1/2012 6:57:25 AM   
Edwynn


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PS

Who knows, in an ideal world where E. Warren and A. Admati and even Brooksley Born were to be at the top of all regulatory agencies, we perhaps could witness the miracle of seeing demonstrated blame-the-victim 'liberals' actually STFU, and listen to people who actually know what they're talking about.





< Message edited by Edwynn -- 12/1/2012 7:18:46 AM >

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RE: Why are so many afraid of Warren? - 12/1/2012 2:20:31 PM   
tazzygirl


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Status: offline 		My feeling is they (Wall Street and the GOP) know this is an intelligent woman who cannot be bought. Time will tell if I am right.

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RE: Why are so many afraid of Warren? - 12/1/2012 2:22:57 PM   
Moonhead


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Status: offline 		To be fair, they thought that about the Kenyan as well*, and many of the plutocracy are still insisting that he's a Marxist after the four years he's spent licking his lips and hgetting down on his knees the second any of them unzip their flies...


*(apart from the woman bit, obviously)

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