Elizabeth Warren Straight Up

Elizabeth Warren Straight Up

today’s HuffPo for her full comments and exclusive video that was taken
for Michael Moore’s Capitalism movie but some of which was cut: http://www.huffingtonpost.com/2009/10/21/elizabeth-warren-speaks-w_n_329425.html?igoogle=1

“Financial products, and they are products, just like
toasters, are sold today with the most dangerous features embedded in
them because that’s what drives profitability. What’s astonishing is
that we let this happen. You can’t buy a toaster in America that has a
one in five chance of exploding. But you can buy a mortgage that has a
one in five chance of exploding, and they don’t even have to tell you
about it… We have consumer protection for everything you touch, taste,
smell, feel… But there is no equivalent for credit cards, for
mortgages; there’s nothing.”

Warren describes how “the very people who drove the car over the
cliff have been instrumental in shaping how the American taxpayer was
supposed to save it. In the past,” she notes, “when you drove the car
over a cliff, you lost your job.” She criticized the government for not
conducting a thorough and transparent investigation into the causes of
the financial crisis, which is essential because “responsibility is not
just about blame. Responsibility is about making sure we fix this and
it will not happen again.”

“If the people who were directly affected, people whose lives have
been wrecked by this, are not represented at the table, we won’t get
the right solutions,” Warren says emotionally. “Yeah, we’ll patch this
up – and then in ten years it crashes again and it crashes again and it
crashes again… My job is to be here for the people who just don’t get a
voice in this game. They’ve been shut out now for 30 years in this.
It’s to say no more.”

At one point Warren laments: “I teach contract law at Harvard Law
School, and I can’t understand my own credit card. No, I am not kidding

Read more at: http://www.huffingtonpost.com/2009/10/21/elizabeth-warren-speaks-w_n_329425.html?igoogle=1

More love for Elizabeth Warren:

Elizabeth Warren for President by Matt Taibbi http://trueslant.com/matttaibbi/

Also Neil Garfield on Living Lies: http://livinglies.wordpress.com/2009/10/21/wisdom-succumbs-to-wise-guys/

Professor Warren on the Daily Show in April, explaining what was done with the TARP money: http://www.thedailyshow.com/watch/wed-april-15-2009/elizabeth-warren-pt–1




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