Posted by Pat Cunningham on Jul 17, 2013 in Uncategorized | 2 comments
The Internet has been afire in the past few days with accounts of how Massachusetts Sen. Elizabeth Warren made fools of her inquisitors on CNBC in a discussion of the Glass-Steagall Act, a measure regulating banks.
Calling the CNBC hosts “ninnies” isn’t accurate. They are just presenting the counter arguments, which is their job. Obviously Ms. Warren is well versed in the subject and well prepared for these questions, after all she’s been fighting for banking reform since the first day she stepped into office.
And reform is certainly needed. Repealing Glass-Steagall wasn’t a smart decision. Even Alan Greenspan later admitted as such. It’s terrible that most Republicans will probably try to block this effort.
There’s a lot I don’t like about Ms. Warren, but each bill needs to be looked at within its own merits. This is a good bill. It’s worth contacting your Representatives and Senators to say you support it. There have been several versions submitted over the past couple of years, here is the most recent one to review for those interested.
They could have given Warren who by the way is a Senator some encouragement in her quest to bring trust and accountability back to our financial institutions. This is what we need in our elected officials not some teabagger who is only interested in closing government so the 1 percent can make more money.
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