No. It’s much, much simpler than that. They simply don’t care as long as their firm prospers and they get at least a 6-figure bonus. Why else would you knowingly bundle junk paper and then hedge against it? Why else would mortgage brokers willingly find loans for people they knew would be unable to repay the debt once the interest rate ballooned?
I love Elizabeth Warren. I’m smitten.
1 Like
This is one of the things I really like about Elizabeth Warren. She doesn’t let falsehoods stand and she is very good at coming back. She would be a terrific debater in a presidential campaign. She is relentless and part of it is that she is completely sincere about what she says. That makes it easy, I think. I wish she were running - although I’m, afraid her relative inexperience in foreign affairs might be a problem.
Warren has found herself in the crosshairs of the banking industry thanks to her work helping to craft the Consumer Financial Protection Bureau (CFPB) and railing against the amount of influence Wall Street has in the halls of Congress.
Wasn’t it Franklin Roosevelt who said, “…and I welcome their enmity”?
Hugh, is that you?
1 Like
And the answer is: crickets.
2 Likes
Paul Krugman is a man with the exact same views on this subject as Elizabeth Warren. Do you see Jamie Dimon saying that he’s not sure Paul Krugman fully understands the global banking system? No. And that is in spite of much scathing criticism that Krugman has lobbed at Dimon.
So there’s the answer to your question.
3 Likes
I don’t think most of them even care whether or not their firm prospers. They have it worked out so that they get their 6-figure bonuses even when the firm loses money.
3 Likes
She was, I believe, a high school debate champion. And I’m thinking she’s only gotten better at it since then. I’d love to see her take on Ted Cruz. I’d love to see that guy ripped to shreds.
2 Likes
And not the sharpest knife in the drawer either…
Lyndon LaRouche claimed to be a Democrat during his presidential runs. Strom Thurmond used to be a Democrat. Plenty of good ole’ racists were Democrats at some point in time. That’s the problem with the Democrats (and Republicans as well): they let everybody in who can check a box on his voter registration.
Actually, he used the term “hatred”. He was a bit more direct than using a polite term like “enmity”. It was his Madison Garden speech shortly before the 1936 election, and he tore into the “business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering”.
And then the climax of the speech: “They are unanimous in their hate for me — and I welcome their hatred.”
Chances of hearing a speech like that during the 2016 election: 0 percent, not even from Sen. Sanders.
2 Likes
These bastards understand and that is the problem, they aren’t gambling because they can’t lose. The worst case scenario for them was that they didn’t get bailed out and they just got to rip everybody off and pay a small fine. They never really missed a beat.
They knew full well what they were doing because they set it up, made the rules and refereed their own game.
They are just unrepentant cocksuckers at best.
3 Likes
I agree with you. Dodd-Frank isn’t perfect. It should have broken you into pieces.
Egad I love this senator. I hope Hillary solicits and heeds her advice on the appointments to head Treasury and Justice. (Secretary of the Treasury and AG, I mean, not just next-level officials.)
2 Likes
Are you related to Johnny Fooseball by any chance?
You can say that again!
1 Like
Maybe, but she only needs to worry about the voters in Massachusetts. See how that works?
She is orders of magnitude better informed and more intelligent that you appear to be from your posts.
4 Likes
And did. Elegantly.
2 Likes
I’ve been voting Democrat for 5 years more than that, and working for candidates for several years before I was eligible to vote. I have voted for the occasional (Vermont) Republican, or Green, admittedly, but I’ll match my political and intellectual credentials against yours and have a comfortable margin to spare. Are you a troll, or just a frustrated egotist?
1 Like
Get the pres to release the details.
1 Like