Wall Street Reform: Elizabeth Warren Challenges Republicans To Stand Up For Families

[flpoljunkie]

Wall Street Reform: Elizabeth Warren Challenges Republicans To Stand Up For Families
First Posted: 04-29-10 08:00 AM
Updated: 04-29-10 09:52 AM

It's time for senators -- especially the Republicans -- to square their upcoming votes on financial reform with their long-professed desire to protect families, said consumer advocate and federal bailout watchdog Elizabeth Warren on Wednesday in an interview with the Huffington Post.

"Everyone in Washington claims to be on the side of families and to support reform," said Warren, a member of the 2010 TIME 100 list of the world's most influential people. "But the test is who votes to paper over problems with another regulatory system designed to fail and who votes for real Wall Street accountability even if it means that some donors will be disappointed.

"I'm tired of hearing politicians claim to support families and, at the same time, vote with the big banks on the most important financial reform package in generations. I'm deep-down tired of it."

Of all the proposals in the 1,400-page Senate bill attempting to reform Wall Street and protect American consumers, none is more contentious than the one calling for the creation of a consumer-focused agency dedicated to protecting borrowers from abusive lenders.

Reform-minded Democrats want a powerful independent entity able to defend powerless families from the banks and financial firms that squeeze profits out of customers through tricks, traps and outright predatory loans.

Moderates want to say that they voted for a bill that protects consumers -- even if it really doesn't.

more...

http://www.huffingtonpost.com/2010/04/29/elizabeth-warren-challeng_n_556362.html

[flpoljunkie]

1. Elizabeth Warren's conclusion...

"Every day that goes by without a clear set of rules in place to guide our economy into the future is a day that costs us money," she said. "Every credit card, payday loan, car loan and check overdraft that hides another fee or another bizarre interest calculation in the fine print costs American families. Every Too Big to Fail that takes on a little more risk, or leverages up just a little more, or that sucks capital away from another business that doesn't have a government guarantee at no charge costs American families. Every lousy product sold to a family, to a retirement fund, or to a local township costs American families.

"We cannot rebuild a strong and reliable economy without new rules," she continued. "We need those rules now. Not next month, not in six months, not in a year. Now."

[jotsy]

2. I adore this woman!

She needs to remain front and center until this fiasco is untangled, I don't have much faith in anyone but her or Bill Black to be straight up in a public setting.

[proudohioan]

3. I just love Elizabeth Warren!

She truly gets it for American Families!

I recently read her book titled "The Two-Income Trap" and found it informative and fascinating. At one point in Elizabeth's own life, their family lost their car after her father was unable to work. I think that the sting of that experience must have prompted her to go into the direction that she eventually went, and continues to work her ass off for the American family because of it.

You go, Elizabeth Warren!!

:thumbsup: