Elizabeth Warren responds to jittery Wall Streeters

[BeyondGeography]

Link to tweet

[crazytown]

1. Z-I-N-G !

[CentralMass]

2. Then they must be soiling themselves over a Sanders presidency.

[crazytown]

3. Senator Warren forced the resignation of two Wells Fargo CEOs

one after another.

[Tiggeroshii]

4. Either prospect is "sub optimal" -as the squawkers say.

[sheshe2]

28. He did not set up the CFPB in the wake of the financial crisis.

10 Things Elizabeth Warren’s Consumer Protection Agency Has Done for You

The new Consumer Financial Protection Bureau is already shielding Americans from shady dealings by mortgage lenders, student loan servicers, and credit card companies.

The Consumer Financial Protection Bureau (CFPB), the watchdog agency conceived of and established by Sen. Elizabeth Warren (D-Mass.) in the wake of the financial crisis, had a hard time getting on its feet. The GOP tried everything it could to hobble the bureau, but to no avail. Over the past couple of years, the CFPB has issued dozens of protections shielding consumers from shady practices by mortgage lenders, student loan servicers, and credit card companies. Here are ten things the CFPB, which was created in 2011, has done to protect the little guy:

1. Mortgage lenders can no longer push you into a high-priced loan: Until recently, lenders were allowed to direct borrowers toward high-interest loans, which are more profitable for lenders, even if they qualified for a lower-cost mortgage—a practice that helped lead to the financial crisis. In early 2013, the CFPB issued a rule that effectively ends this conflict of interest.

2. New homeowners are less likely to be hit by foreclosure: In the lead-up to the financial crisis, lenders also sold Americans “no doc” mortgages that didn’t require borrowers to provide proof of income, assets, or employment. Last May, the bureau clamped down on this type of irresponsible lending, forcing mortgage lenders to verify borrowers’ ability to repay.

Read More:https://www.motherjones.com/politics/2014/03/elizabeth-warren-consumer-financial-protection-bureau-2/

See you and raised you one. What did Bernie do?

[brooklynite]

34. Of course, maybe they think Warren could actually win.....

[blm]

5. Hah!!!!!

[Tiggeroshii]

6. That smell in the air will be every fortune 500 ceo in america finding out

warren won iowa.

[BeyondGeography]

11. Because she is so done with this, among many other things

[crazytown]

13. +1000

exactly correct

[demmiblue]

7. Jim Cramer is a weird sort of fellow.

K&R

[LudwigPastorius]

25. He is a squirmy, soulless homunculus.

[Kurt V.]

8. ladies and gents, that's unapologetic, backbone of steel messaging. take note.

[Blue_playwright]

31. That's one reason I love her!

[still_one]

9. Jim Cramer, who used to be on with Larry Kudlow are laughing stocks. You want to lose money,

listen to them


You want to make money, do the opposite of what they said

[rurallib]

22. Wall Streeters would begetter off if they were scared of Jim Cramer

and realized that Elizabeth Warren will re-establish stability in leadership which they want so bad. She will also work to establish a level playing ground which should be much better than the near monopolies we have now.

[still_one]

23. All that may be true, but Cramer is a charleton, and Jon Stewart put him and the whole gang to shame

[Saviolo]

10. I have physical revulsion listening to them (mostly Cramer)

They are so secure in their deep thick cocoon of money. They watch Wells Fargo stocks "underperform" while they don't have a CEO, and claim to be "pro-CEO" and wonder why they're having a hard time finding a CEO to step up. Maybe the Trump administration has sucked up too many of the grifters, and there aren't enough CEOs to go around. Millionaires funded by billionaires telling the middle class that helping other middle class people is terrible, while they themselves tumble down a hill of money snowballing all the way down. Listening to these grifters makes me physically ill.

[B Stieg]

12. B.S.

The Conservatives are starting to realize that Warren is more dangerous to Biden, and they're rallying to tRump.
Warren will destroy him on a debate stage.
Kind of like what Chrissy Teigen said.

[safeinOhio]

18. He will never

debate her. Take that to the bank.

[B Stieg]

19. Sadly, I think you're correct...nt

[jalan48]

14. Looks like our casino capitalism leaders are getting nervous.

[splunge63]

15. eff them

Who the hell cares what they think? And, yeah, the entire lot of them is running scared.

[aikoaiko]

16. Truth be told, the rich will still get richer under a Warren or Sanders presidency...

....just a little slower.

Probably true of any Democrat given that we have to fix the chaotic tax code.

[Kurt V.]

17. true. 100%. but as much to do with patent monopoles as tax code.

[safeinOhio]

20. Being richer is not their real goal.

It's to put more space between them and everyone else. To be royalty, you need serfs.

[betsuni]

21. Why though? The economy always does better under Democratic administrations.

Republicans lower taxes and regulations and a crash comes. They aren't very good executives if they want that.

[BeyondGeography]

26. Because they want to keep stuffing corporate profits into share buybacks and dividends

and she would curb that, among other things they oppose (like putting employee reps on corporate boards):

Stock buybacks are not a minor feature of corporate behavior. Rather, the last three decades have seen a consistent and significant rise in the practice of buying back stock on the open market. Companies now buy back more stock (through open-market buybacks and share retirement due to mergers and acquisitions) than they issue; in 2016, net equity issuance was minus five hundred eighty billion dollars (-$580 billion) (Federal Reserve 2017). Over the last decade-and-a-half, firms have sent 94 percent of corporate profits out to shareholders, in the form of buybacks, as well as dividends, leaving companies to argue that there is little available for employee compensation or investment (Lazonick 2014).Specifically, William Lazonick (2014) examines the corporate practices of 449 companies that were listed on the S&P 500 continuously from 2003-2012. He found that companies used 54 percent of their earnings to buy back their own stock and spent an additional 37 percent on dividends of their earnings.

http://rooseveltinstitute.org/wp-content/uploads/2018/03/Stock-buybacks.pdf

The economy would be much healthier with middle class real income growth restored and after the market adjusts to the new reality it would do fine too. But the ownership class opposes the end of the shareholder tyranny era because it would redistribute a lot of easy money out of its pockets.

[Kurt V.]

27. Taxes. Crashed economys dont hurt financial markets. we bail them out and they know it.

[betsuni]

30. At least there are (were?) bailout laws requiring paying it back.

According to the Treasury, the government received more money back than it handed out to banks. Any Democratic president would sign legislature improving regulating the financial industry. President Obama set a new record in Wall Street contributions but signed Dodd-Frank into law. I don't get the big fuss.

[LudwigPastorius]

24. Bankers and corporate execs are afraid of Elizabeth Warren?

That gives me a warm, happy feeling deep in my loins.

[Joe941]

29. A bunch of rich wall street fat cats complaining...

Now I know we are doing the right thing.

[JenniferJuniper]

32. Reminds me of an old Phil Ochs song

Of course, everything these days reminds me of an old Phil Ochs song.

(a rare live video for any Phil fans out there)

[Skidmore]

33. I don't know about Wall Street fat cats.

I'd like to know how these numerous plans affect us, a rural couple trying to retire, one of us with a recently acquired disability due to serious illness. During the Bush years we were forced from an annuity plan into an investment portfolio by our employer. These funds are vested. We are nowhere close to being even half millionaires.

Yes, this is our wealth and we worked hard for it and used thrift in our lifestyle. My husband still works at age 74 doing physical labor to keep health insurance. We need some answers about how her plans interface with one another and the current law, we specially since we are both at ages where we can quickly be bankrupted by catastrophic medical events. So, while taking swipes at fat cats may feel good, there are millions of people who should get answers to what happens to their savings, whether they are close to retirement or not.

[brer cat]

35. +++

There is more to "Wall Street" than fat cats although you might not know that by the way that some candidates and their supporters talk. Millions of us have investments that, while modest by most standards, are crucial to our livelihoods. I hope the middle class doesn't become cannon fodder in the war against Wall Street.

[iscooterliberally]

36. How does anyone watch that show? It's absolutely awful.

What do they do, snort cocaine and wash it down with Cuban coffee? They can't even speak in complete sentences. Their words are not better than silence. That being said, I'm glad they're shitting in their pants. I read part of an opinion article in the WSJ. They're all afraid of Warren too. I'm glad that I'm voting for her. These rat bastards need to pay big time.

https://www.wsj.com/articles/warrens-assault-on-retiree-wealth-11568155283

[wellst0nev0ter]

37. I laughed until I realized that's the only thing that has survived

of the McCain-Feingold campaign reforms, including McCain and Feingold.