Democratic Primaries
Related: About this forumInside Warren's War With the Obama Team
I cut out the first sentence of the title of this article. I am a strong supporter of President Obama and this article has some interesting material.
Link to tweet
Other Obama administration officials call her a professional critic, sanctimonious, and a condescending narcissist. One former Treasury aide puts it this way: Were with Barack. Were the liberals. Why are you pissing in our face?
One of the administration officials adds: She loved herself, and some of her staff had a God view of her, and thats not aligned with government and bureaucrats which, require teamwork.
People who worked closely with Warren at that time but are not on her presidential campaign are equally scathing about Obama and his team.
primary today, I would vote for: Joe Biden
George II
(67,782 posts)primary today, I would vote for: Joe Biden
vsrazdem
(2,176 posts)primary today, I would vote for: Undecided
Uncle Joe
(58,111 posts)primary today, I would vote for: Undecided
NYMinute
(3,256 posts)We were hemorrhaging jobs by the millions each month.
Financial expertise was needed in order to stabilize the markets and prevent an economic nosedive.
President Obama got PROGRESSIVE financial experts who were maligned ONLY BECAUSE they were from wall street.
Now -- if you need financial expertise to prevent a recession, who do you go to?
Certainly not some radical revolutionary who has no idea how the markets function or what can be done to prevent a depression.
Attacking Summers and Geithner was wrong then and it is wrong now. Their actions have kept the economy growing for 10 years until Trump is given a chance to wreck it.
primary today, I would vote for: Joe Biden
DrToast
(6,414 posts)That dude got a bad rap.
primary today, I would vote for: Joe Biden
NYMinute
(3,256 posts)primary today, I would vote for: Joe Biden
DrToast
(6,414 posts)Geithner was a career public servant. He wasnt getting rich by being part of Wall St.
primary today, I would vote for: Joe Biden
NYMinute
(3,256 posts)primary today, I would vote for: Joe Biden
primary today, I would vote for: Joe Biden
Thekaspervote
(32,606 posts)primary today, I would vote for: Joe Biden
Uncle Joe
(58,111 posts)Russian Roulette with the their customers money.
Major causes of the initial subprime mortgage crisis and following recession include: International trade imbalances and lax lending standards contributing to high levels of developed country household debt and real-estate bubbles that have since burst; U.S. government housing policies; and limited regulation of non-depository financial institutions. Once the recession began, various responses were attempted with different degrees of success. These included fiscal policies of governments; monetary policies of central banks; measures designed to help indebted consumers refinance their mortgage debt; and inconsistent approaches used by nations to bail out troubled banking industries and private bondholders, assuming private debt burdens or socializing losses.
(snip)
https://en.wikipedia.org/wiki/Causes_of_the_Great_Recession#targetText=Major%20causes%20of%20the%20initial,of%20non%2Ddepository%20financial%20institutions.
The vast majority of the American people living increasingly on debt, because of stagnant wages (not the 1%) since the 1980s had little breathing room or margin of error and millions of Americans lost their jobs and homes but the gambling mega-banks were well taken care.
If the "radical revolutionary" had been listened to in regards to the dangers of massive income/wealth inequality, the people would've been in a much stronger position to weather the storm.
This Is Where Bad Bankers Go to Prison
(snip)
In contrast to the Icelandic saga, no bank CEOs in the U.S. or the U.K. have been convicted for their roles in the subprime mortgage crackup and related disasters. Bringing white-collar criminal cases may be easier in Iceland because courts dont use juries. Rather, they employ neutral experts to help judges understand the intricacies of finance. In Britains highest-profile case stemming from the crash, the countrys Serious Fraud Office investigated London-based real estate magnates Vincent and Robert Tchenguiz in connection with their business dealings with Kaupthing. The brothers were never charged, and in 2014 the SFO even had to pay them £4.5 million ($6.4 million) in damages to settle their claims of malicious prosecution.
For its part, the U.S. Department of Justice has refrained from prosecuting individual bankers after a Brooklyn, N.Y., jury in 2009 acquitted two former hedge fund managers at Bear Stearns accused of securities fraud. Washington wasnt willing to take the risk of another stinging defeat, so they slowed down a host of other prosecutions, says John Coffee, a professor of securities law at Columbia in New York.
In 2013 then-U.S. Attorney General Eric Holder told Congress that Wall Street banks are so big that prosecuting them might harm the economy. He later stressed no institution is above the law. Some watch-dogs are appalled the feds chose only to extract big civil fines from institutions. Theres no justification over what appears to be a lack of effort to identify individuals engaged in misconduct and to bring charges, says Phil Angelides, chairman of the Financial Crisis Inquiry Commission, a bipartisan panel established by Congress. It sends a signal that if you do wrong on Wall Street, theres really no consequences. Thats bred cynicism about the justice system, and its bred anger.
While Icelands leaders have meted out justice by jailing financiers, they still have work to do to repair the damage wrought by the crash. The politicians did fail, says sociology professor Olafsson. They allowed this thing to happen, all the excesses and the greed and the debt accumulation. Something broke in terms of trust.
(snip)
https://www.bloomberg.com/news/features/2016-03-31/welcome-to-iceland-where-bad-bankers-go-to-prison
primary today, I would vote for: Undecided
NYMinute
(3,256 posts)Larry Summers or Tim Geithner were not involved in the subprime fiasco.
Blaming the entire wall street for that is like blaming an entire police force because of one corrupt cop.
It is called "Guilt by association" and the ultra left plays it mercilessly by grouping entire groups of people into one and then demonizing them.
Like "corporations" or "CEOs" or "Hedge Funds" or "Wall Street" or "Fossil Fuel Executives"
No group is all good or all bad. There are always a few bad apples. There are people who sink colleges into oblivion and get rewarded with severance packages -- that doesn't make ALL college presidents bad. Right?
primary today, I would vote for: Joe Biden
ehrnst
(32,640 posts)primary today, I would vote for: Joe Biden
pansypoo53219
(20,906 posts)primary today, I would vote for: Undecided
Blue_true
(31,261 posts)People that want the same things frequently have fierce arguments about how to achieve them.
primary today, I would vote for: Joe Biden
vsrazdem
(2,176 posts)primary today, I would vote for: Undecided
primary today, I would vote for: Joe Biden
Hoyt
(54,770 posts)including Clinton, did not help in 2016.
primary today, I would vote for: Joe Biden
DrToast
(6,414 posts)Its no accident she has received relatively few endorsements. Hell, even Booker has more than her.
primary today, I would vote for: Joe Biden
Peacetrain
(22,836 posts)primary today, I would vote for: Joe Biden
Gothmog
(143,999 posts)primary today, I would vote for: Joe Biden
Peacetrain
(22,836 posts)working class to his side..and he did.. hats off to VP Joe
primary today, I would vote for: Joe Biden
Gothmog
(143,999 posts)primary today, I would vote for: Joe Biden
Cha
(295,900 posts)It's easy to take pot shots on the outside... Biden knows how much they did with what they had.
Like BS thought it was a "..good idea to primary.." President Obama in 2011.
primary today, I would vote for: Joe Biden
Cha
(295,900 posts)Mahalo, Goth and Joe Biden!
primary today, I would vote for: Joe Biden
still_one
(91,947 posts)primary today, I would vote for: Joe Biden
LakeArenal
(28,728 posts)President or humanitarian, either one.
Some of the negatives of Warren in that piece I may totally agree with. But now is not the time to string out past negatives.
Though many will do it anyway.
primary today, I would vote for: Joe Biden
Thekaspervote
(32,606 posts)primary today, I would vote for: Joe Biden
LonePirate
(13,386 posts)Politico routinely runs editorials from one of heads of National Review with no countervailing editorials from the left. It is little more than a right wing organization masquerading as a centrist, non-partisan outfit. If they are targeting Warren, then Warren scares them, just like the Wall Street banks and sycophants.
Also, if the tug of war between Warren and Geithner & Summers, I will side with Warren every time. I am still amazed how no one from Wall Street served time for their actions leading up to the Great Recession.
primary today, I would vote for: Undecided
fallrey
(36 posts)<<Also, if the tug of war between Warren and Geithner & Summers, I will side with Warren every time. I am still amazed how no one from Wall Street served time for their actions leading up to the Great Recession.>>
I am with you on this 100%. No one was really held accountable and safeguards against future abuses were not strong. Obama did ok, but I was disappointed in how little those who lost so much were left to fend for themselves in many ways.
primary today, I would vote for: Undecided
Kurt V.
(5,624 posts)primary today, I would vote for: Undecided
BeyondGeography
(39,280 posts)Its in the article.
primary today, I would vote for: Undecided
Desert Dem
(78 posts)was around the bailout and her insistence on a consumer protection agency. I believe the administration told her if she wanted it, she could go run for Senate and then do the hard work to get it passed. The administration had its hand full already.
So...she did.
primary today, I would vote for: Undecided
DrToast
(6,414 posts)primary today, I would vote for: Joe Biden
Desert Dem
(78 posts)I may be mistaken.
primary today, I would vote for: Undecided
sheshe2
(83,334 posts)She did that before the election.
I voted for her. She accomplished much before:
Elizabeth Warren - Wikipedia
en.wikipedia.org/wiki/Elizabeth_Warren
primary today, I would vote for: Joe Biden
She did have the program ready for prime time when it got passed and I believe the Democratic Party knew she was goon kick some republican booty in MA in 2012 election. I think its important to give her the credit for the agency because it got passed just before 2012 election. Thats why I think she is so effective. We have been lucky to have her in elective office.
Thanks for refreshing my memory. Its seems like yesterday but was a long time ago.
primary today, I would vote for: Undecided
sheshe2
(83,334 posts)primary today, I would vote for: Joe Biden
OilemFirchen
(7,143 posts)While then-professor Warren had originally suggested the CFPB in 2007, it was Dodd-Frank and the CPA that authorized its creation three years later. It was President Obama who selected her to run the agency, though she never had the opportunity. The Republican Senate was clearly not going to confirm her, so Richard Cordray was chosen as her replacement. It was then that she decided to run for the Senate.
We owe Warren a debt of gratitude for the CFPB, and she owes Obama a similar debt for her national exposure.
primary today, I would vote for: Joe Biden
Cha
(295,900 posts)Thank you, Oilem
primary today, I would vote for: Joe Biden
Bradshaw3
(7,455 posts)So Politico wasn't a reliable source when it ran negtive stories on Biden but now it is when it has a negative piece on Warren. Some Biden supporters are getting desperate.
primary today, I would vote for: Joe Biden
BeyondGeography
(39,280 posts)Both sides of the aisle.
primary today, I would vote for: Undecided
Bradshaw3
(7,455 posts)But bashing Warren has become par for the course for some posters on here. Easy to understand why.
primary today, I would vote for: Joe Biden
LakeArenal
(28,728 posts)primary today, I would vote for: Joe Biden
Thekaspervote
(32,606 posts)primary today, I would vote for: Joe Biden
Blue_true
(31,261 posts)A lot of dark money has come into play against her as she rises in the polls.
The attacks are going to backfire in the faces of the attackers.
primary today, I would vote for: Joe Biden
Bradshaw3
(7,455 posts)For all the memes on here trying to portray her as some wild-eyed radical, the fact is voters know they are getting screwed and they want somebody who will fight against the money elites who run this country. Those pigs haven't just had a seat at the table, they have elbowed the rest of us to the floor. And the pigs know she is going to do something about it.
primary today, I would vote for: Joe Biden
bigtree
(85,917 posts)...
primary today, I would vote for: Joe Biden
Tarheel_Dem
(31,207 posts)and I would never want to offend her, but I can't abide attacks on President Obama, no matter who they come from. I would support her in a heartbeat if she were to win the nomination, but my heart and my money are with Joe Biden. That's all I'll say for the moment.
primary today, I would vote for: Joe Biden
fallrey
(36 posts)Obama wasn't perfect. He was a really good president. He was an historic president. He is a much loved president.
IMO, he was weak on sticking up for everyday people after the crash.
I thought he erred about (not) sufficiently taking on the Russian interference as well.
You can't really mean no criticism is tolerated. That is an untenable position!
primary today, I would vote for: Undecided
Tarheel_Dem
(31,207 posts)primary today, I would vote for: Joe Biden
Cha
(295,900 posts)People. He always did.
primary today, I would vote for: Joe Biden
Desert grandma
(802 posts)There is no way that I can see she takes Wisconsin, Pennsylvania or Michigan. The down to earth working class do not trust her and see her as "an elitist". That's what I have heard from Trump voters I know. They voted for Trump over Clinton who was a much more qualified candidate. They would vote for Biden. Not saying she is not a qualified candidate...I like her BUT we do not win in 2020 without taking these rust belt states which voted Blue before Trump, IMHO. AND GETTING RID OF THE ORANGE BUFFOON IS ALL I CARE ABOUT.
primary today, I would vote for: Joe Biden
LakeArenal
(28,728 posts)primary today, I would vote for: Joe Biden
ChubbyStar
(3,191 posts)Lots of folks from 2003-2018 showing up to lend support,
primary today, I would vote for: Undecided
Gothmog
(143,999 posts)This story is making the rounds https://politicalwire.com/2019/09/12/inside-warrens-war-with-the-obama-team/
The acrimonious differences between Warren and her allies and members of the Obama team led in part to her decision, with prodding from Obama, to leave the administration to run for the Senate rather than continue pursuing the leadership of the CFPB. But they never fully abated and now represent dueling approaches to Democratic economic policymaking, presenting the possibility that the next Democratic president will have ascended to the height of Democratic Party politics in part by bashing the previous one.
primary today, I would vote for: Joe Biden
Bradshaw3
(7,455 posts)You're replying to your own post with a rehash of what you already posted? Pathetic.
Just stop with the bashing of a Democratic candidate that has anonymous personal attacks. Anyone else would be embarrassed by this.
primary today, I would vote for: Joe Biden
primary today, I would vote for: Undecided
ChubbyStar
(3,191 posts)primary today, I would vote for: Undecided
obamanut2012
(25,911 posts)primary today, I would vote for: Joe Biden
Why should they have gotten along? If they disagreed on policy and each was certain about his or her approach, they would clash. Clinton overlooked the "she's likeable enough" comment, and a lot of other things, but despite all the trashing of Clinton, she really tried hard to get along with other politicians in service of the whole and that worked with her and Obama. Sure, Warren is not the same. So blinking what?
Why is everyone so in love with a particular politician (whomever it might be) that if others have a different view of that person, this becomes a deal breaker? I just don't get it. Don't we care about policies and outcomes?
I do get the love for Obama, but I also remember he had a very tough approach to ensuring his election. He wasn't above the fray at all, really. He just had his calculations about it all, like any politician would.
I am glad Warren isn't a pushover. Egos clashing is ubiquitous in politics as elsewhere. Oh well.
primary today, I would vote for: Undecided
BeyondGeography
(39,280 posts)primary today, I would vote for: Undecided
Fiendish Thingy
(15,367 posts)Gietner and Summers needed their asses kicked in a public forum
primary today, I would vote for: Undecided
NYMinute
(3,256 posts)We were hemorrhaging jobs by the millions each month.
Financial expertise was needed in order to stabilize the markets and prevent an economic nosedive.
President Obama got PROGRESSIVE financial experts who were maligned ONLY BECAUSE they were from wall street.
Now -- if you need financial expertise to prevent a recession, who do you go to?
Certainly not some radical revolutionary who has no idea how the markets function or what can be done to prevent a depression.
Attacking Summers and Geithner was wrong then and it is wrong now. Their actions have kept the economy growing for 10 years until Trump is given a chance to wreck it.
primary today, I would vote for: Joe Biden
Cha
(295,900 posts)and his Team did pull the economy out of the Abyss and kept it growing.. until now the big fat liar trump is taking credit.
primary today, I would vote for: Joe Biden
emmaverybo
(8,144 posts)primary today, I would vote for: Joe Biden
Tarheel_Dem
(31,207 posts)primary today, I would vote for: Joe Biden
Gothmog
(143,999 posts)It was a very scary time. We came very close to a real depression.
Under trump, we now lack the tools to combat even a small recession.
primary today, I would vote for: Joe Biden
BlueWI
(1,736 posts)or did it continue to worsen despite the first goal, avoiding collapse due to speculation in the finance sector, being achieved? Take a look at the data and you'll see that this division between the have and have nots worsened to the point where at this point, it's threatening social stability, and even in 2016 the reality of stagnant wages for many workers made it more difficult for Clinton to run on the Obama economic record.
Most of us on this site worked like hell to get the 2009 supermajority, and the economic team was overrepresented by the finance sector, including Summers, one of the architects of the meltdown through Clinton era deregulation. Warren had every reason to think that better consumer protection was needed, and she worked at that issue with determination and a lot of successes.
Meanwhike, banks got Federal Reserve cash at .75% interest. You're right, the monetary system didn't crash, but plenty of households went underwater without a sufficient program directed at consumer debt. Eddie Glaude calls it the Black Great Depression, based on the decimation of home equity in many black communities.
Paul Volcker was a minority voice in the Obama team and he and Warren were appropriately critical of investment banks for risky behavior. We'll never know what the right mix was of strategies - better results may have been possible. And some of the worst results, the loss of housing equity and rising inequality, haven't been addressed to this day.
You paint a much more cut and dried picture of the Geithner-Summers policies than is actually the case.
primary today, I would vote for: Undecided
NYMinute
(3,256 posts)in the middle of defibrillating shocks "Did you remember to save the buttons on his shirt when you ripped it off?"
primary today, I would vote for: Joe Biden
A better metaphor is the prevention of staph infections after hospital admissions. Yes, triage is primary, but if there are other health needs that need to be addressed, you do so if possible. And you definitely consult with a team as soon as the patient is stabilized.
Let's leave oversimplification and binary thinking for Republicans and stay substantive as Democrats. We get better policy that way.
primary today, I would vote for: Undecided
NYMinute
(3,256 posts)primary today, I would vote for: Joe Biden
BlueWI
(1,736 posts)I value and learn from substantive disagreement. Not yet sure if that's something you value, since you seem to ignore statements of substance.
Back to the original topic - didn't the main bipartisan bill to bail out the banks occur before Obama took office? There was still a need for a stimulus package and possibly demand side tax cuts in 2009, along with new legislation regarding bank reserves, demand side tax cuts, interest rates, etc. You recall this context, do you not?
This is where a variety of options for infrastructure investment and mortgage relief could have been considered, and this is where consultation with a wider range of economists would have helped.
Incidentally, as much as we fashion ourselves as supporting growth for working people, including residents of black communities, it seems like there would be consistent interest in how macroeconomic policy (including macroeconomic policy under Democratic administrations) helps or fails to help those populations. I have detected no real interest in these topics in my brief discussions with you. It's high time that this disconnect be grappled with, and IMO, it's one of the lessons from 2016 that is the least attended to.
primary today, I would vote for: Undecided
BlueMississippi
(776 posts)Not because it is fashionable and not because it irks the ultra left but because they have the necessary expertise to run the economy.
If one needs brain surgery, one goes to a neurosurgeon and not your supermarket meat department manager. The former may be a republican 1%er and the latter might be a working class liberal -- but those are not the criteria that go into that choice.
primary today, I would vote for: Joe Biden
Thekaspervote
(32,606 posts)certain weatherman That illegally resides at 1600 Pennsylvania ave
primary today, I would vote for: Joe Biden
Hassin Bin Sober
(26,272 posts)primary today, I would vote for: Undecided
NYMinute
(3,256 posts)primary today, I would vote for: Joe Biden
Hassin Bin Sober
(26,272 posts)primary today, I would vote for: Undecided
BlueMississippi
(776 posts)primary today, I would vote for: Joe Biden
peggysue2
(10,811 posts)I read the article this morning and thought it provided a good reminder of how bad things were economically at the start of Obama's Administration. He really was handed a shit sandwich and remarkably managed to turn it around. Not to everyone's satisfaction, of course. But avoiding another worldwide Great Depression is no small thing. I say this as someone who was critical of President Obama at the time. Amazing how putting things in perspective can change your opinion of a time you actually lived through. But there it is.
For a Politico piece, I found the article fairly-well balanced in profiling big personalities in a time of real crises and turmoil. That's when leadership is really tested. A long but worthwhile read.
primary today, I would vote for: Joe Biden
Gothmog
(143,999 posts)I remember this time very well and the US was very close to a full depression. Even today, this period is called the Great Recession for a reason.
primary today, I would vote for: Joe Biden
ChubbyStar
(3,191 posts)Now Politico is your friend? Remember PERSPECTIVE!
primary today, I would vote for: Undecided
peggysue2
(10,811 posts)No, you said that. I don't need you or anyone else to put words in my mouth, thank you very much.
primary today, I would vote for: Joe Biden
ChubbyStar
(3,191 posts)Just remember there is a search function on DU.
primary today, I would vote for: Undecided
mahina
(17,505 posts)primary today, I would vote for: Joe Biden
LudwigPastorius
(8,944 posts)Go, Liz!
primary today, I would vote for: Joe Biden
Raven123
(4,714 posts)I suspect Politicos team is enjoying the the fire started by this article (Disclosure: I have only read what is posted here, as I personally believe Politico thrives on such articles and so I stopped following the website some time ago )
I am currently supporting Warren, and will support the Dem nominee in the general election. I reserve the right to change my support in the primaries at any time, but I will make my decision based on what I see from the candidates themselves.
primary today, I would vote for: Undecided
TheRealNorth
(9,435 posts)Politico likes to stir up shit for the web hits.
I agree with some of what she is saying though. In addition to not going after Wall Street for the Great Recession, they could have used the bail out money to bail out home owners instead of the banks. Because they did not, the banks made out like bandits, being able to foreclose on properties at the lowest prices.
primary today, I would vote for: Undecided
ChubbyStar
(3,191 posts)What a great idea. Didn't happen. We know why.
primary today, I would vote for: Undecided
blm
(112,920 posts)primary today, I would vote for: Joe Biden
Blue_true
(31,261 posts)Who do you think would have gotten the bailout funds used to help honeowners. A similar argument could be used about bailing out student debt holders directly.
primary today, I would vote for: Joe Biden
Blue_true
(31,261 posts)primary today, I would vote for: Joe Biden
obamanut2012
(25,911 posts)primary today, I would vote for: Joe Biden
Gothmog
(143,999 posts)primary today, I would vote for: Joe Biden
kaiserhog
(167 posts)and it made it reinforced my vote for her.
primary today, I would vote for: Undecided
BlueWI
(1,736 posts)that was widely criticized when Clinton was running.
Why is it ok now?
primary today, I would vote for: Undecided
Garrett78
(10,721 posts)If one wants to argue that the nation (or, rather, those who hold the purse strings) wasn't/isn't ready for Warren's point of view on this matter, that's one thing. But Warren's point of view is the correct point of view, IMO. I would bet that Obama actually agrees, but just couldn't bring himself to support her point of view under the circumstances.
primary today, I would vote for: Undecided