Wall Street gadfly Warren stands good chance of Senate banking seat

Comments (13)
flashrooster wrote:

Putting Sen. Warren (I love the sound of that) on the Senate Banking Committee makes perfect sense and should be done, if she wants the seat. We need to start getting people in the right positions in our government to start representing us, the people. The people need to regain their power.

Nov 08, 2012 11:42pm EST  --  Report as abuse
BiteRight wrote:

From now on, the Wall Street excesses shall be transformed into deficits. She can tame the sharks behaving like sleeping lions locked inside the cage.

Nov 09, 2012 5:37am EST  --  Report as abuse
breezinthru wrote:

Elizabeth Warren for President!

Nov 09, 2012 5:50am EST  --  Report as abuse
fromthecenter wrote:

Wonder how much more money wall street has left to spend on protecting their turf? You can bet they will be spending a bunch more trying to fight anything that would make them act responsibly. I think they should have another look at glass-stegal.

Nov 09, 2012 6:21am EST  --  Report as abuse
americanguy wrote:

Warren will be the smartest person in Congress, and totally on the side of consumers. She is a great person. The wealthy tried everything to stop her, because she cannot be bought and manipulated.
Congratulations Dr. Warren.

Nov 09, 2012 7:29am EST  --  Report as abuse
BillDexter wrote:

Be careful. (My) new Senator elect Warren is not any prodigy. She is an overpaid college professor that has done nothing. If you push her on to center stage too fast she will become your Sara Palin.

Nov 09, 2012 7:38am EST  --  Report as abuse
tmc wrote:

She will be discredited. I hope she can take the heat and ignor it. I doubt she’ll get the seat though. It is a really good barganing chip for the dems. Warren or a tax hike, republicans choice.

Nov 09, 2012 8:16am EST  --  Report as abuse
ardweeny wrote:

@BillDexter – she’s done nothing, eh? Shows what you know.

Nov 09, 2012 8:31am EST  --  Report as abuse
dj1s wrote:

Let’s do this.

Nov 09, 2012 9:40am EST  --  Report as abuse
GA_Chris wrote:

Shouldn’t all senators protect consumer rights?

Nov 09, 2012 11:00am EST  --  Report as abuse
BioStudies wrote:

It’s hard to imagine a worse scenario for economic growth than Reid and Obama working together. Oh wait Reuters you found it!

If she gets that post the economy is totally done. I’m going to laugh all the way to the unemployment line along with everyone else in the country who PRAISED THIS SHREW!

Nov 09, 2012 11:07am EST  --  Report as abuse
Lloyd_L wrote:

Free enterprise has made America the most prosperous country in the world and everyone benefits from that. It’s given people like Bill Gates and Steve Jobs enormous wealth but their success goes way beyond them. Their employees benefit. We, their consumers benefit as their products we purchase allow us to be more productive. Even the very poorest of our poor benefit by the taxes we all pay on the wealth created by the production and use of these products.

What we have on Wall Street is not free enterprise. Since the excesses of Wall Street and the big banks became obvious in August of 2008, Washington politicians and regulators have done little to correct the situation. For instance, we now have Dodd-Frank but who benefits from that? It resulted in more regulators and a vast array of new regulations, studies and reports. When you talk to your small, community bank you will hear that the new regulatory burden falls mostly heavily on them. The result of Dodd-Frank is that the big banks have gained an even larger competitive advantage over smaller banks. Big banks are, for the most part, posting large profits while community banks continue to struggle. Our banking system is a good example of the crony capitalism which is dominated by politically well connected businesses who can hire their armies of lawyers, accountants and lobbyists.

I have heard Elizabeth Warren and what worries me is that she seems to think the answer is bigger government with more regulatory power. This just plays into the hands of the crony capitalists.

To me, the answer to our banking system is;
1. Less government regulation.
2. Let all banks succeed or fail based on their own business plans and execution.
3. No bank should be “too big to fail.”
4. The FDIC should be charged with the responsibility to develop plans to take down failing large banks and sell the assets to 25, 50 or 100 smaller banks so that don’t have to sell them to a bank that is already “too big to fail.”

I hope that Elizabeth Warren can be for free enterprise and not just be against big business.

Nov 09, 2012 11:18am EST  --  Report as abuse

If the banks had thought she was going to have little impact, they would not have spent so much money to keep her out of the Senate.

Nov 09, 2012 3:12pm EST  --  Report as abuse
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