General Discussion
In reply to the discussion: Both Sanders and Warren just voted for the bipartisan budget compromise bill [View all]ProSense
(116,464 posts)"Warren and Sanders want to stop giving our cash to bankers. Obama dines regularly with Jamie and Lloyd.
One set of actions garners trust. The other, the opposite. "
...really a correlation: "giving our cash to bankers" vs "dines regularly with" them?
What does dinner have to do with policy?
SEC Will Require Companies To Report CEO-To-Worker Pay Ratios
http://www.democraticunderground.com/10023694931
Regulators Finalize Stricter Volcker Rule - Reuters/HuffPo
http://www.democraticunderground.com/10024158305
The Consumer Financial Protection Bureau gets busy
http://www.democraticunderground.com/10023372682
NLRB to Prosecute Wal-Mart For Violating Workers Rights (updated)
http://www.democraticunderground.com/10024053560
Elizabeth Warren is doing great, and she is the first to acknowledge the progress made thus far to rein in financial institutions.
When I worked to set up the Consumer Financial Protection Bureau, I pushed hard for steps that would increase transparency in the marketplace. The crisis began one lousy mortgage at a time, and there is a lot we must do to make sure there are never again so many lousy mortgages .
CFPB made some important steps in the right direction, and I think were a lot safer than we were .
There is no question that Dodd-Frank was a strong billthe strongest in three generations. I didnt have a chance to vote for it because I wasnt yet in the Senate, but if I could have, I would have voted for it twice.
Even so, the law is not perfect. And so its important to ask: Where are we now, five years after the crisis hit and three years after Dodd-Frank?
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Powerful interests will fight to hang on to every benefit and subsidy they now enjoy. Even after exploiting consumers, larding their books with excessive risk, and making bad bets that brought down the economy and forced taxpayer bailouts, the big Wall Street banks are not chastened .
They have fought to delay and hamstring the implementation of financial reform, and they will continue to fight every inch of the way .
Thats the battlefield. Thats what were up against. But David beat Goliath with the establishment of CFPB and, just a few months ago, with the confirmation of Rich Cordray .
David beat Goliath with the passage of Dodd-Frank. We did that together Americans for Financial Reform, the Roosevelt Institute, and so many of you in this room. I am confident David can beat Goliath on Too Big to Fail. We just have to pick up the slingshot again .
Thank you .
http://www.warren.senate.gov/files/documents/AFR%20Roosevelt%20Institute%20Speech%202013-11-12.pdf