Elizabeth Warren: 'We Rescued at The Top, & Sort of Left The Bottom to Fend For Itself'

[Hissyspit]

Run time: 06:09 http://www.youtube.com/watch?v=IE8cCIATHuY   Posted on YouTube: November 06, 2009 By YouTube Member: mmflint Views on YouTube: 3492   Posted on DU: November 06, 2009 By DU Member: Hissyspit Views on DU: 535

 
Elizabeth Warren from 'Capitalism: A Love Story' on MSNBC's Morning Joe: "The way I think of it is: they say something like 'Give me your money, investors and I'm going to Las Vegas and put it all on red 22. And if red 22 comes in -- woo! we are RICH. If red 22 doesn't come in, don't worry because the tax payers will pay you back the money you invested."

Had all our money on Black 17 at
http://www.michaelmoore.com

[benld74]

1. The LOGICAL way it was suppose to work was,,,

RESCUE the TOP and thy in turn would use what was given them to assist thse on the bottom.

BUT since we ALL know Reagan tickle down doesn't work AND those scum sucking vermin at the TOP WILL DO NOTHING for those on the bottom UNLESS SOMEONE holds them to the fire

IT IS really not suprising

[valerief]

2. 4 trillion here, 4 trillion there. After a while, it starts to add up. nt

[OnceUponTimeOnTheNet]

3. Watch in morn. Warren. nt

[Grassy Knoll]

4. Unfortunately Obama was caught in a catch 22. n/t

[20score]

5. K&R

[Canuckistanian]

6. Joe just said "socialize the losses...but privatize the gains"?

What is he? Some sort of Marxist or something?

[Go2Peace]

7. Unfortunately she fell into a trap and helped them trash the stimulus

The stimulus saved our butts. I see it all the time. The energy credits are keeping many small contractors and construction laborers working, the highway funds have kept many firms and employees working, the auto rebates had a huge effect and tamed some of the spiral down in spending, and there are hundreds of other examples if people are really paying attention.

[avaistheone1]

11. I think you are very confused. Warren was never against the stimulus.

She is responsible for making sure that the TARP money Congress gave Wall Street is accounted for.
Warren is an ethical and honest person who has essentially been shut out by the Treasury and the Administration from doing her job of oversight.

If anything, she is against the bailout and the secrecy with which the Treasury and Wall Street have disbursed and spent these funds.

[Go2Peace]

12. I like Warren. But she took the bait when they talked about the stimilus *also* not doing anything

wothwhile. I think you misunderstood my post

[99 Percent Sure]

8. And a hearty 'thank you,' Ms. Warren, for verbally closing the

proverbial barn door months after the horses have escaped.

We were ignored and/or patronized when we flooded the Congress critters, including then-candidate Obama, with calls and emails importuning them not to create TARP. We were told by them all, with committee chairs Frank and Dodd leading the pack, that we didn't know what we were talking about. Because, see, once the banks regained liquidity thru TARP, credit would loosen up and businesses and Main Street could begin to borrow again, plus small businesses could continue to make payroll. Either they didn't know or refused to tell us that Bernanke had already 'secretly' given the banks/Wall Street trillions of dollars. Now, as 2009 comes to a close, more than 100 banks have folded, the FDIC is nearly broke, banks still aren't lending, and unemployment keeps climbing, although there's much happy talk about us being in recovery.

It's hard to swallow being the working and jobless stiffs who got it right while our elected officials got it wrong and essentially dissed us, yet we're the ones undergoing tremendous economic suffering even though we got it right.

We got royally played by our elected reps and others in the federal government, by Wall Street and by the banksters.

We.got.played.

But still...Thank you, Ms. Warren, for your months later candor!

[Nikki Stone1]

10. That's not really fair. Warren has been talking about this for months and months

The key is that Obama chose Geithner and Summers and continued the Wall Street subsidies.

[earcandle]

9. They should have collapsed, the government should have taken them over

 repaired them and put them back or start new companies.

They should have claimed bankruptcy like I had to do.
And others have to do who have businesses.

Ten years of a black mark for me, and they get billions.

This is robbery and unfair, and our population is not
educated enough to understand and there is no body teaching
them.

This is wrong.  Put the regulations back and prosecute these
asshats.  All of them who participated.
Including former Goldman Sachs folks who caused it all.

IMNSHO