Elizabeth Warren on How Clinton Backed Student Loan and Mortgage Debt Slavery w/ Bankruptcy “Reform"

[amborin]

https://vimeo.com/105062617

http://www.nakedcapitalism.com/2015/10/elizabeth-warren-on-how-clinton-backed-student-loan-and-mortgage-debt-slavery-with--bankruptcy-reform-.html

Elizabeth Warren recounts how Hillary Clinton sought out Warren’s advice on the bankruptcy bill in 1999, and persuaded her husband to veto it, one of the last acts he took as an outgoing President. Warren points out that this bill at the time was a not-very-high priority pro-business measure and by implication was not unduly costly for a departing Chief Executive to oppose.

Hillary Clinton was so proud of her role in stopping this bankruptcy legislation that she touted it in her autobiography. Yet in her first act as a newly-elected Senator from New York, she made a 180 degree change and voted in favor of the bill. And Warren makes clear that from her earlier discussions with Clinton that she knew full well what was at stake in terms of the consequences to families.

How does Warren explain that change? She attributes it to the power of lobbying dollars in Washington, particularly from the consumer financial services industry, which has long been a top spender. Warren also highlights that financial firms were now Clinton’s constituents and she therefore was obligated to represent them.

But who precisely were these banking constituents? It was the top executives of the big players headquartered in New York City, such as JP Morgan and Citigroup. Keep in mind that Clinton was not protecting jobs in New York state. Credit card operations, such as back offices and call centers, are located in much lower cost regions (for instance, Citigroup’s big credit card processing operation has long been in South Dakota; American Express’ is in Phoenix). So Clinton was not protecting jobs; she was at best protecting bank profits and senior level bonuses. And it does not appear that she gave much thought to the costs to the manyborrowers in her jurisdiction.

[AzDar]

1. Oh Noes! Why Is Senator Warren Doing Trump's Work FOR Him??

[FourScore]

2. kick

[CharlotteVale]

3. When this happened it told me all I ever needed to know about Hillary Clinton.

[brooklynite]

4. 2004...I wonder Warren ever had a change of heart?

Elizabeth Warren: I hope Hillary Clinton runs for president

Sen. Elizabeth Warren says she hopes Hillary Rodham Clinton runs for president in 2016 — the latest in a series of declarations of support by the Massachusetts Democrat, who some have speculated could seek the Oval Office herself.

"All all of the women — Democratic women I should say — of the Senate urged Hillary Clinton to run, and I hope she does. Hillary is terrific," Warren said during an interview broadcast Sunday on ABC's "This Week," noting that she was one of several senators to sign a letter urging Clinton to run in 2016.

https://www.washingtonpost.com/news/post-politics/wp/2014/04/27/elizabeth-warren-i-hope-hillary-clinton-runs-for-president/

Elizabeth Warren praises Hillary Clinton’s Wall Street plan

Sen. Elizabeth Warren delivered influential support Monday for Hillary Clinton's proposal to expand regulation of the banking and financial services industries.

Warren said she welcomes Clinton’s warning that Republicans are trying to use the current government spending bill to weaken regulations. The liberal Massachusetts Democrat has declined to endorse anyone in the Democratic presidential primary so far.

Clinton wrote an op-ed piece that appeared Monday in the New York Times that calls on Congress not to strip funding for the watchdog Consumer Financial Protection Bureau.

“Secretary Clinton is right to fight back against Republicans trying to sneak Wall Street giveaways into the must-pass government funding bill,” Warren wrote on Facebook.

https://www.washingtonpost.com/news/post-politics/wp/2015/12/07/elizabeth-warren-praises-hillary-clintons-wall-street-plan/