Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I doubt she would run any time soon, she is much more effective right now as a Senator. But this fear for her coming from the right wingers makes me think she is one of the best people to have in the Senate.
It's too bad because some of her stated positions are valid but she is simply not going to be able to logically make them. As others have noted someone who made $300,000 teaching one class is not the one to argue that college is unaffordable.
$300K after 20-30 years teaching law at the most prestigious institution that also provides a nearly free education to those that get in - based on a sliding scale on family income. The problem (if you can call it that) with Harvard is getting in, not the cost.
Elizabeth Warren seems to be the Ted Cruz of the Left. Did you think the Republicans had trouble handling Tea Party dissidents? Wait until you see how the next couple years work out for the Dems, with the progressive's radical agenda of war on prosperity and their battle against economic literacy.
.............We will note, nobody but the homeowners were punished. The banks not only were not punished they were made whole and then some.
So the value lost by top bank executives and management in the debacle is in the many billions of dollars. Net worth of bank execs was largely tied up in employer stock. Merrill, Bear, Lehman, Countrywide, Citi, Bank of America etc. got slaughtered in the stock market and top execs lost 80-100% of their net worth. The pain was massive. (Other shareholders also got skewered.) They have not been "made whole" in any sense.
TARP terms were very punitive, with above-market (extortionate) rates of interest and the government could refuse to allow payoffs and thus collect even more interest. The government made a large profit on TARP from the banks.
And since the debacle, the Justice Department and states attorneys general and other agencies have extorted large fractions of banks net worth to settle this and settle that--often for actions that were not and are not illegal. Banana republic action, clearly.
Of course, these plain facts are pretty much unknown to the Warren tribe. It is easy to use propaganda against the banks to inflame people who do not understand business or arithmetic or private property.
$300K after 20-30 years teaching law at the most prestigious institution that also provides a nearly free education to those that get in - based on a sliding scale on family income. The problem (if you can call it that) with Harvard is getting in, not the cost.
Someone making $300,000 for teaching one class is never going to be able to make the argument that college needs to be publicly funded.
So the value lost by top bank executives and management in the debacle is in the many billions of dollars. Net worth of bank execs was largely tied up in employer stock. Merrill, Bear, Lehman, Countrywide, Citi, Bank of America etc. got slaughtered in the stock market and top execs lost 80-100% of their net worth. The pain was massive. (Other shareholders also got skewered.) They have not been "made whole" in any sense.
Those values are higher today than before the collapse. Those who lost their homes didn't get a larger one back.
Angelo Mozilo walked off millions and millions of dollars and he was a far bigger crook than Bernie Madoff. Madoff screwed over some investors but Mozilo screwed over the country. Sarbanes/Oxley was written specifically to prosecute those like Mozilo but he wasn't. He was able to dance off with millions of ill begotten gains. He wasn't the only one.
Who knows how many fraudulent applications were written. How many were prosecuted? None.
Quote:
TARP terms were very punitive, with above-market (extortionate) rates of interest and the government could refuse to allow payoffs and thus collect even more interest. The government made a large profit on TARP from the banks.
And since the debacle, the Justice Department and states attorneys general and other agencies have extorted large fractions of banks net worth to settle this and settle that--often for actions that were not and are not illegal. Banana republic action, clearly.
Of course, these plain facts are pretty much unknown to the Warren tribe. It is easy to use propaganda against the banks to inflame people who do not understand business or arithmetic or private property.
The banks paid a pittance considered what they have made off the Fed's actions. You give me a million and demand a $100,000 in fee's I'm not going to complain.
Those values are higher today than before the collapse. Those who lost their homes didn't get a larger one back.
Angelo Mozilo walked off millions and millions of dollars and he was a far bigger crook than Bernie Madoff. Madoff screwed over some investors but Mozilo screwed over the country. Sarbanes/Oxley was written specifically to prosecute those like Mozilo but he wasn't. He was able to dance off with millions of ill begotten gains. He wasn't the only one.
Who knows how many fraudulent applications were written. How many were prosecuted? None.
The banks paid a pittance considered what they have made off the Fed's actions. You give me a million and demand a $100,000 in fee's I'm not going to complain.
Thanks for proving my point about ignorance.
Bank of America is trading at about 40% of its peak, and Citigroup has crawled all the way back up to...ONE EIGHTH of its peak.
Countrywide, Merrill, Bear Sterns, and Lehman are not even in existence anymore.
Give? Give? There was no "give." All there was the imposition of preferred stock issuance with extortionate terms in favor of the government. How is it a GIFT when every penny plus huge interest (and profit on warrants, in many cases) came back to the government?
If I give you a million dollars and you give me back $1.2 million dollars, and you think that is a gift to you, I'm putting you on my Christmas list.
One area of agreement: lack of prosecution of criminals. After the S&L crisis more than thirty years ago, a thousand people went to jail. You are spot-on about that. But please stop spreading ignorant Warrenisms about the big banks. It demeans you.
Bank of America is trading at about 40% of its peak, and Citigroup has crawled all the way back up to...ONE EIGHTH of its peak.
Countrywide, Merrill, Bear Sterns, and Lehman are not even in existence anymore.
Give? Give? There was no "give." All there was the imposition of preferred stock issuance with extortionate terms in favor of the government. How is it a GIFT when every penny plus huge interest (and profit on warrants, in many cases) came back to the government?
If I give you a million dollars and you give me back $1.2 million dollars, and you think that is a gift to you, I'm putting you on my Christmas list.
One area of agreement: lack of prosecution of criminals. After the S&L crisis more than thirty years ago, a thousand people went to jail. You are spot-on about that. But please stop spreading ignorant Warrenisms about the big banks. It demeans you.
It is a gift because they should have lost it all....and their future along with it. And they would have but for the bailouts.
This kind of stance is why Romney lost....and why those like him will continue to lose. Financial manipulators have squandered all credibility with the American people and, if they ever had a shred of goodwill, it is gone. The age of an American landscape polluted with a Gordon Gecko on every corner was ushered in during the Reagan years and the people have had quite enough. It took 30 years too long to get their attention, but from this point on Big Money is on the run from the wrath of the the great majority who matter in this country.
More and more are even waking up to the fact that this is not a partisan matter. I'm as conservative as they come, but I'm not a liar and a thief and have no tolerance for those who are.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
