What we need is public banking. http://www.publicbankinginstitute.org/our_story
When Warren champions something like that, I’ll be impressed with her.
Sanders carefully says “Congress” as he yet once again just refuses to utter the word “Democrat” in association with those “supporting the billionaire class” and “oligarchy”.
Once again. Open question here, as I’ve searched and searched because I want to be fair.
Is there a single instance where Sanders has uttered any criticism that any Democrat, or Democrats for engaging in lawmaking that constitutes supporting that “billionaire class” or is aligned with “oligarchy”?
I don’t think you can find such.
Sanders has more important fights to engage in. Protecting his own political ambitions directly tied to the Democratic Party. He is protecting oligarchy from itself apparently.
I know I know. How dare I.
Another bank bailout means another opportunity to redistribute wealth to the one percent from the middle class and poor. Did you really think the banksters wouldn’t get what they want ?
“Forget the politicians. The politicians are put there to give you the idea you have freedom of choice.
You don’t. You have no choice. You have owners. They own you.” - George Carlin - “The American Dream”
Warren cites Wellstone. I like it. Fly safely, Liz–the bastards remain vigilant over their spoils.
I think the Senator is going to clean their clock. While we are on the subject of dim-witted people, Mnuchin just said on (Meet the Press) it doesn’t matter what the president says at rallies. Apparently, he isn’t the president there. This guy isn’t just dim-witted he apparently dropped out of special ed.
Trump’s sole function in the GOP is to provide a 24/7 distraction smokescreen that enables the GOP and Vichy Democrats to enact the agenda thay have pushed for ever since Saint Ron ascended the throne in 1981 and the Democratic Leadership Council (DLC) formation in 1985 made FDR’s New Deal the enemy with a target on its back.
The best of a truly bad lot.
Maybe she doesn’t know about public banks or just hasn’t been sold on them the way Ellen Brown has. I’m not giving you a like because I am impressed by Elisabeth Warren, but I really do appreciate you bringing up the idea of public banking, because it just slips off my radar otherwise and I guess I/we have to be reminded about it again and again…
And then we had the Frank-Dodd Act.
Dodd–Frank Wall Street Reform and Consumer Protection Act
https://en.wikipedia.org/wiki/Dodd–Frank_Wall_Street_Reform_and_Consumer_ Protection_Act. That was back then, and both Democrats and Republicans could collaborate to bring about some level of control of banking white collar crime and the majority vote for new legislation that would control white collar crime, such as the wild speculation back then on derivatives fraud.
To jump forward to 2018, now we have Trump as president, who is on the side of banking white collar criminals, instead of Barrack Obama who wanted strict regulation of big banks. The Dodd Frank Act required and got bi partisan support. In our complete reversal we now have bipartisan support for less regulation of big banks, bought and paid for by bank lobbyist money to legislators.
I like Elizabeth Warren and she would be a great first female president. Only Bernie and Elizabeth have been speaking out against banking lobbyists and all of the legislators that are being soft on white collar crime. Not much difference between corrupt Democrats voting against regulation of banking and Republicans voting against regulation of banking as they get rich off of lobbyist money.
Sanders wants to keep his friends friendly too. He’s out to win the so-called “early primary” in 2020. That’s why what Warren is doing is so brave—it’s rare for Senators to directly call out their colleagues. I really appreciate her for it.
I have politely communicated with Sanders’ staffers in phone calls urging him to be more direct, as Warren has.
I wrote just a quick communication via the web form, but considering writing a more formal letter making my point.
I do appreciate Sanders message on this, but I think he could actually be more effective in steering the Democratic Party toward the progressive side if he adopted a more direct criticism.
Not full scale public banking but…
Warren has supported basic banking functions being handled by Post Offices for many years now (something that was common a 100 years ago).
I suspect, but don’t know, that Warren is miffed about the CFPB being under Munchin’s leadership with nary a concern expressed by her colleagues. For the Senate to wreck things with the stupid banking bill probably has her at wits end.
They should be thankful that she isn’t screaming at them and calling them out by name. The fact that she is not doing so is what makes her a politician and enables her to keep advocating for better. A lot of people in these pages and elsewhere fail to understand that.
Agreed that she is passionate about banking - her academic career centered on that. I hope she does not run for President and focuses on this.
I agree. She would do more good I think as Banking Committee Chair. She’s already in line to Chair the Subcommittee on Financial Insitutions. Plus, for all her merits, I am not convinced she’d be a great candidate, but that’s pure subjectivity speaking.
ALL of my posts have been deleted – over ten years’ worth. With no warning. Because I said something critical about this site. I called, and “Jodi” said she would look into the matter. That was over two weeks ago, and I remain EXPURGATED from this site, despite the fact that my comments have routinely been among the most “Liked.”
The next time the banks crash, the taxpayers have to bail them out and no one goes to jail for fraud there won’t be public anger. There will be a bloody revolution. These Senators who are in the pockets of the financial institutions and are willing to pass bills to put everyone in jeopardy once again are playing with fire. The limits of the American people are at an end over this bought and paid for Congress and Presidency.