She’s a “white Cherokee”.
On this issue I agree with her.
Rope please
Commercial banks focused on lending (retail and commercial...even commercial paper) and investment banks focused on, well, investment banking (i.e. raising capital in the public and private capital markets).
Occasionally an investment bank would bite the dust...but at least its investors were well aware of the risk. And the Commercial banks were much more conservative...as they should be.
That was the interview where she proved she was an idiot who had no idea how things worked.
And CNBC had it pulled because, well, CNBC is actually a network that sells their video products, and so they do not want people to give it away for free.
It’s snowing in hell: she’s right.
CNBC = Cowardly NBC
Warren referenced the 2008 “crash” in the context of banking deregulation being a factor. The culprit in the 2008 housing market fiasco was the fact that the government tried to intervene in that market and pressure banks to make unwise loans to home buyers.. on a massive scale, creating an unsustainable “bubble” that was bound to burst.
What, pray tell, would have happened to the housing market bubble had Warren’s new Glass-Stegall bill been enacted and in place? I believe there is a place for some regulation in the banking industry, but to put all the blame on “deregulation” is simplistic and can eventually lead to more problems if we’re not very skeptical and careful of the resulting imposition of new onerous regulations proposed by the progressive left.
Even a broken clock can be right once a day.
There are huge problems with her analysis though.
The recent bank failures weren’t caused by less regulation, they were caused because the equal lending laws that forced banks to consider bad loan prospects or be sued for discrimination.
When the banks were forced to relax standards by law, the average consumer simply jumped on the band wagon. By the time they were done, over one fifth the housing market were financed with loans that artificially inflated housing prices and consumers that had no business taking out those loans.
People like our president organized against the banks and helped create the mess while consistently saying there was no crisis. Let’s look back on this politicians views on these loans at the time. Bet she said the same as Obama, Clinton, and the leading democRATs who were on the committees who pushed these loans on the banks.
Now she’s for more regulation. Total crap.
8-\
I can't believe anyone would agree with anything this POS has to say.
Totally agree. There should be no national banks, only state banks.
No mention of the CRA nor the Bush Administration’s effort to rein in Barney Frank et al.
All a load of crap except for the point that Senator Warren did indeed “look good”.
Hey Freepers, I can’t stand this woman but she correct about this issue.