Elizabeth Warren: The market is broken

[n2doc]

NEW YORK (CNNMoney)
Senator Elizabeth Warren says she picked up a lot of her feistiness from reading Nancy Drew novels as a kid. Today she believes the most important mystery to solve is how to get the American economy working for someone other than billionaires.

It's a message she's been taking all over the country, and she isn't afraid to call banks, credit card companies and some employers cheats and tricksters.

"The biggest financial institutions figured out they could make a lot of money by cheating people on mortgages, credit cards and payday loans," she told a packed auditorium at the Graduate Center of the City University of New York, where she spoke alongside New York Times (NYT) columnist Paul Krugman.

The Democrat from Massachusetts even said the market is broken in many regards.

"This is about getting markets to work for real people," she said.

more

http://money.cnn.com/2014/09/05/news/economy/elizabeth-warren-market-broken/index.html?hpt=hp_t2

[valerief]

1. Declare war on the pols who vote for inequitable laws. Not word war, real war.

They like that shit anyway. Makes their rich benefactors richer.

[Fortinbras Armstrong]

2. Some call her socialist

To say that "the free market" is flawed.

[JHB]

7. To those "some", describe what taxes and regulations existed during the Cold War...

...without mentioning which country and period you're talking about.

You will invariably find that their expansive personal definition of "socialist" includes their own country at the time they were growing up.

A point to remind them of when they talk about "wanting their country back."

[Fortinbras Armstrong]

15. Ignorance of politics, history and economics is extremely helpful

In maintaining the conservative ideology. It is essential for libertarians.

[Enthusiast]

16. +1

[Demeter]

20. AIN'T THAT the Truth!

Lack of vision is also a good marker; characteristic for both conditions.

[Enthusiast]

17. +1

[ncjustice80]

19. Free markets never helped anyone but the rich

Socialism is a superior system anyway. Just hard to sell to Americans.

[antigop]

3. Elizabeth Warren won’t say if Hillary Clinton is ‘too cozy’ with Wall Street

http://www.democraticunderground.com/1016101642

[toby jo]

4. "getting markets to work for real people" - you can't say that loud enough, m'lady.

[KG]

5. It's not broken. it's working like a charm for the right people.

[kairos12]

6. Not broken. Rigged, me thinks.

[freebrew]

8. Flawed, not broken...

our economic system is doing exactly what is was designed to do.

Ever play Monopoly? There's only one winner, everyone else loses.

The rich get richer because they make the rules.

[Demeter]

10. That's not what the People want

Get a clue.

[freebrew]

14. Didn't say it was...

just describing the way it is.

Read much?

[FiveGoodMen]

22. But that's what they're going to get.

Both parties are helping bring it on.

If we're lucky, maybe 1 or 2 out of every 100 Congress critters are actually trying to help ALL the people.

This is what we get for making it all about symbols and personalities and teams rather than principles.

[Demeter]

25. Bring Back the Enlightenment!

I've always maintained I was born the wrong sex in the wrong century....

[Laelth]

9. k&r for Elizabeth Warren. n/t

-Laelth

[tclambert]

11. They're cheating without doing anything illegal . . . because their lobbyists wrote the laws.

(Lobbyists for the credit card companies bragged about writing the 2005 bankruptcy laws, and then "shopping" for Congress members to sponsor their bill.)

However when they do violate the law, they make every effort . . . to avoid prosecution--destroying evidence, buying off witnesses, smearing whistleblowers, and, of course, threatening to wreck the economy if anyone tries to make them pay more than a token fine.

[Demeter]

26. Anybody can write corrupt and corrupting law

But it takes a real citizen of the People to right a wrong!

[Dustlawyer]

12. Because the rich buy the politicians with campaign

donations. They are able to control the politicians with regular payments and threats of funding opponents. And we wonder why the rich get all of the money? We need to outlaw campaign contributions and have Publicly Funded Federal, State, and Local Elections. This would help fix what's wrong with this country in a big way!

[Saviolo]

13. The system is not broken...

the system is fixed.

And the fix is in.

Spoiler: It's not in favour of anyone making under $1million/year.

[Enthusiast]

18. Kicked and recommended!

Elizabeth Warren for president!

[TBF]

21. The market is working as intended by capitalists -

the broken piece is that we all buy into this rigged system (well, not all of us).

[FiveGoodMen]

23. I really don't think the markets were ever intended to work for most of us

They seem to be nothing but a scam to suck up all the cash and hand it to a few rich ... I'll be nice and say 'people'.

[emsimon33]

24. She tells it like it is! Go, Liz!

[Thinkingabout]

27. She is in the proper position to change the rules for Wall Street.

[tooeyeten]

28. Works absolutely perfect

For the 1%billionaire robber barons.