Eliz. Warren Interview

[oddlots]

Via Zero Hedge, great interview with Elizabeth Warren:

http://www.boston.com/bostonglobe/ed...ailout/?page=1

"Anyone who thinks that they can take tens of billions of dollars of taxpayer money and continue to operate business as usual lives in a fantasy world that I don't understand. Culture clash? No! This is not a culture clash. This is not about taxpayers who don't get it. This is about people who think [in a] fantasy, that their world is prosperous and continues to create value that can be parsed out privately, when they are relying on huge subsidies from the taxpayer. It's just wrong!"

[Spartacus]

Re: Eliz. Warren Interview

Via Zero Hedge, great interview with Elizabeth Warren:

http://www.boston.com/bostonglobe/ed...ailout/?page=1

"Anyone who thinks that they can take tens of billions of dollars of taxpayer money and continue to operate business as usual lives in a fantasy world that I don't understand. Culture clash? No! This is not a culture clash. This is not about taxpayers who don't get it. This is about people who think [in a] fantasy, that their world is prosperous and continues to create value that can be parsed out privately, when they are relying on huge subsidies from the taxpayer. It's just wrong!"

I disagree - it's not wrong.

It's so bad, even on shrooms and acid and pot it still would not quality to be in the same ring as "right" and "wrong"

[rjwjr]

Re: Eliz. Warren Interview

It's great that she has such a prominent role, if not with a "badge and a gun", at least with a soap box.

If the Administration continues to allow her to speak her mind, and if they help to put some bite in her bark, will tell alot about our prospects for business as usual or the change that was promised.

[Retired Commish]

Re: Eliz. Warren Interview

Via Zero Hedge, great interview with Elizabeth Warren:

http://www.boston.com/bostonglobe/ed...ailout/?page=1

"Anyone who thinks that they can take tens of billions of dollars of taxpayer money and continue to operate business as usual lives in a fantasy world that I don't understand. Culture clash? No! This is not a culture clash. This is not about taxpayers who don't get it. This is about people who think [in a] fantasy, that their world is prosperous and continues to create value that can be parsed out privately, when they are relying on huge subsidies from the taxpayer. It's just wrong!"

We're talking about a value judgement on the right or wrong of these actions. Obviously, the big boys connected with wall street banking, insurance, etc. don't believe it's wrong. Politicians who voted for the bailout subsidies will receive their payoff next election when the check begin flowing into their coffers. When Treasury runs a revolving door for employment of GS executives, is it really any wonder who is in charge and where their sentiments lie. It's only natural to help your buddies.
Nevertheless, Warren and Bair at least see the problem and aren't afraid to express their dislike of what has happened. That's a beginning. My worry though is that there won't be any resources left to change course if the majority ever gets to the same understanding Warren has.
Aside from the above, any main street businessman can see that a simpler approach would have been to send each household (perhaps a 100 million) a check for $l00,000 each. That would have solved much of the mortgage/housing/savings/debt problems that affect the banks and which they are trying to solve from the top end down instead of the bottom up approach.

[flintlock]

Re: Eliz. Warren Interview

We are so headed towards the direction Rome went when their senate failed to respond to issues and became a corrupt joke. Emperors followed for the next 400 years. And almost constant war.