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RiverLover

(7,830 posts)
Sat Dec 13, 2014, 09:05 AM Dec 2014

The Speech That Could Make Elizabeth Warren the Next President of the United States

The Speech That Could Make Elizabeth Warren the Next President of the United States
12/13/2014



Early Friday evening Sen. Elizabeth Warren took to the Senate floor and gave a plain-spoken, barn-burning speech that could make history and put her into serious contention to be the next President of the United States.

There are only a handful of political speeches that have such historic impact. Barack Obama's keynote speech at the 2004 Democratic Convention comes readily to mind. It's what catapulted an obscure Illinois state Senator into the national limelight and put him on the path to becoming President.

Warren's Senate speech was different, but just as electrifying.

Here's the heart of Warren's speech:

Democrats don't like Wall Street bailouts. Republicans don't like Wall Street bailouts. The American people are disgusted by Wall Street bailouts

And yet here we are, five years after Dodd-Frank with Congress on the verge of ramming through a provision that would do nothing for the middle class, do nothing for community banks, do nothing but raise the risk that taxpayers will have to bail out the biggest banks once again...

So let me say this to anyone who is listening at Citi[group]. I agree with you Dodd-Frank
isn't perfect. It should have broken you into pieces!

If this Congress is going to open up Dodd-Frank in the months ahead, then let's open it up
to get tougher, not to create more bailout opportunities. If we're going to open up Dodd-Frank, let's open it up so that once and for all we end too big to fail and I mean really end it, not just say that we did.

Instead of passing laws that create new bailout opportunities for too big to fail banks, let's pass...something...that would help break up these giant banks.

A century ago Teddy Roosevelt was America's Trust-Buster. He went after the giant trusts
and monopolies in this country, and a lot of people talk about how those trust deserved to be broken up because they had too much economic power. But Teddy Roosevelt said we should break them up because they had too much political power. Teddy Roosevelt said break them up because all that concentrated power threatens the very foundations up our democratic system.

And now we're watching as Congress passes yet another provision that was written by lobbyists for the biggest recipient of bailout money in the history of this country. And its attached to a bill that needs to pass or else we entire federal government will grind to a halt.

Think about that kind of power. If a financial institution has become so big and so powerful
that it can hold the entire country hostage. That alone is reason enough to break them up.

Enough is enough.

Enough is enough with Wall Street insiders getting key position after key position and the kind
of cronyism that we have seen in the executive branch. Enough is enough with Citigroup passing 11th hour deregulatory provisions that nobody takes ownership over but everybody will come to regret. Enough is enough

Washington already works really well for the billionaires and the big corporations and the lawyers and the lobbyists.

But what about the families who lost their homes or their jobs or their retirement savings the last time Citigroup bet big on derivatives and lost? What about the families who are living paycheck to paycheck and saw their tax dollars go to bail out Citi just 6 years ago?

We were sent here to fight for those families. It is time, it is past time, for Washington to start working for them!

Please take less than 10 minutes of your time to watch the speech below. Like Obama's 2004 Convention speech, it was an historic speech, a potentially game changing speech. It catapulted Warren from a potential nuisance to Hillary Clinton's coronation as the Democratic nominee to someone who could foreseeably win the nomination and even the Presidency....

http://www.huffingtonpost.com/miles-mogulescu/the-speech-that-could-mak_b_6319142.html
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The Speech That Could Make Elizabeth Warren the Next President of the United States (Original Post) RiverLover Dec 2014 OP
I'd love to watch it, but can you link it from Youtube instead of HuffPost? MiniMe Dec 2014 #1
Sure. Here it is~ RiverLover Dec 2014 #2
I just had an election shiver, like before Obama was elected. Voice for Peace Dec 2014 #54
The sad part of this is, with the INdemo Dec 2014 #84
"Enough is enough" - we'll be hearing a lot of that! polichick Dec 2014 #3
except she won't run marym625 Dec 2014 #4
Except she says "I'm not running for president". And she isn't. No one is. Yet. nt RiverLover Dec 2014 #5
hmmm. interesting marym625 Dec 2014 #7
Yup yup. She's running all right, when the party base demands it. Otherwise, they will threaten to stay home and Hillary will be a two-time loser. InAbLuEsTaTe Dec 2014 #9
I can't believe any Democrat marym625 Dec 2014 #12
Yup, I'm ready to go to work for Bernie if Elizabeth comes off the fence and ultimately decides she won't run. InAbLuEsTaTe Dec 2014 #16
I just posted a poll on the two marym625 Dec 2014 #19
Yes, it will. But we've had polls here on this and Warren or Sanders sabrina 1 Dec 2014 #74
yes marym625 Dec 2014 #83
get out of the way? AtomicKitten Dec 2014 #76
She never bowed out in 2008 after it became mathematically impossible for her to win. merrily Dec 2014 #79
Hillary could run on the Republican ticket and be right at home INdemo Dec 2014 #86
yep! n/t marym625 Dec 2014 #87
Point of information ... 1StrongBlackMan Dec 2014 #25
+1 cheapdate Dec 2014 #57
Well, the party's base these days is CitiBank et al. Dragonfli Dec 2014 #58
Best Outcome Maynar Dec 2014 #43
Count on it. InAbLuEsTaTe Dec 2014 #44
If Elozabeth Warren runs there would be INdemo Dec 2014 #102
And of all of them that might she has the MOST to lose announcing early on... cascadiance Dec 2014 #42
You are the only one on DU who gets this that I know of AikidoSoul Dec 2014 #60
yes AtomicKitten Dec 2014 #82
Obama used to say he wasn't running in 2008. Hillary said she hasn't made up her mind about 2016. merrily Dec 2014 #77
True. marym625 Dec 2014 #85
Here's the quote that I think summarizes the speech best. Blanks Dec 2014 #6
Well she was adressing the president & the senate. What I wish she would have said is RiverLover Dec 2014 #18
Yes, Attack your own party leader and President, not the banks or Republicans....excellent idea....? Fred Sanders Dec 2014 #36
The president spent the night before calling Democratic House Reps trying to swing their vote to YES RiverLover Dec 2014 #45
We are attacking bad policy. Bad policy! Enthusiast Dec 2014 #48
I seriously doubt that this poster is getting it. BeanMusical Dec 2014 #68
We are Democrats and we hold our representatives accountable. Those that want to lock-step rhett o rick Dec 2014 #107
She wasn't speaking to/of Obama, but addressing the Senator on the dias. hedda_foil Dec 2014 #40
That is the heart of the substance that Americans are starving for. Faryn Balyncd Dec 2014 #8
Everytime I hear Elizabeth speak, I am so inspired, knowing that if ordinary people get behind her candidacy, that this country can do better. InAbLuEsTaTe Dec 2014 #10
Some Americans perhaps, not all...that is why only about 38% of registered voters.... George II Dec 2014 #13
Practical experience in other areas is not necessary. thesquanderer Dec 2014 #41
Even more important is the interest in running, which to date she has said the opposite. George II Dec 2014 #50
YOU GET IT!! AikidoSoul Dec 2014 #61
She has a lot more than Obama did. JDPriestly Dec 2014 #67
+1 n/t BeanMusical Dec 2014 #69
She is as qualified as anyone! Look at the qualifications of past presidents. Enthusiast Dec 2014 #73
Also, how many eligible to vote don't even bother to register? merrily Dec 2014 #78
So where does the President stand on this? Sorry, rhetorical, he showed us where he rhett o rick Dec 2014 #11
and Summers marym625 Dec 2014 #14
The list is long of Conservatives that he has appointed. nm rhett o rick Dec 2014 #15
Summers is especially telling marym625 Dec 2014 #17
I think the power lies above Obama. There is a deep state (B613 if you will). Just sayin'. nm rhett o rick Dec 2014 #23
Definitely marym625 Dec 2014 #28
I sense this, too. At the risk of sounding tinfoil, Eleanors38 Dec 2014 #105
Rhett Rick... please consider doing a thread on this AikidoSoul Dec 2014 #108
I'd never heard of the End Game Memo. It's explosive! hedda_foil Dec 2014 #46
Sorry, would have linked to Greg's website marym625 Dec 2014 #52
This should be an OP if it's not already. It's a great lens to view recent events! arcane1 Dec 2014 #53
I did one a while ago marym625 Dec 2014 #89
The Palast report is totally mind-blowing. He digs deeper than any investigative reporter AikidoSoul Dec 2014 #64
In case you can't read it marym625 Dec 2014 #88
I have two of his signed books after donating about $100 each time AikidoSoul Dec 2014 #109
yep. marym625 Dec 2014 #110
Summer, Bernanke, potayto, potahtoe. merrily Dec 2014 #80
True. But I think summers would be a hot potato marym625 Dec 2014 #90
What interest rate have people with any money in the bank been getting the last six years? merrily Dec 2014 #91
I didn't say combined marym625 Dec 2014 #92
Combined is what we have had--including Summers, actually. I don't merrily Dec 2014 #94
potayto, potahtoe marym625 Dec 2014 #96
That almost describes all of fiscal policy anymore. merrily Dec 2014 #97
sad fact. n/t marym625 Dec 2014 #100
Regarding the President, Warren said ... Martin Eden Dec 2014 #22
It's a little early for campaign speeches. nt ucrdem Dec 2014 #20
Yes it is. This was a speech addressing the senate. RiverLover Dec 2014 #24
The DNC would have been a better venue. ucrdem Dec 2014 #26
Her aim isn't a shut down, its to pass an amendment that takes out the Citigroup deal from the RiverLover Dec 2014 #30
Is she offering an amendment? ucrdem Dec 2014 #33
Apparently she's written an amendment with Vitter. ucrdem Dec 2014 #35
Warren is the Teddy Roosevelt Trustbuster of the 21st century that we desperately need. Faryn Balyncd Dec 2014 #21
My thoughts exactly MrScorpio Dec 2014 #31
Exactly, yes!!! nt RiverLover Dec 2014 #34
+1 You nailed it. Enthusiast Dec 2014 #72
I have 100% faith she and Bernie could turn this car around Horse with no Name Dec 2014 #27
Stand firm Sen Warren. 99Forever Dec 2014 #29
Lizzy for President. James48 Dec 2014 #32
Lizzy Warren had the facts eridani Dec 2014 #62
-------------!!!!! AikidoSoul Dec 2014 #66
Spoken, er, typed, like a citizen of Massachusetts! merrily Dec 2014 #98
"It should have broken you into pieces!" woo me with science Dec 2014 #37
The last true patriot of the United States. loudsue Dec 2014 #38
Yeah! Enthusiast Dec 2014 #71
We have two spectacularly intelligent, courageous and articulate ladjf Dec 2014 #39
Very nicely said. +1000000! nt RiverLover Dec 2014 #47
Kicked Enthusiast Dec 2014 #49
Even if she doesn't run, every candidate should be asked if they agree or not. arcane1 Dec 2014 #51
Will she stop the bill? Agschmid Dec 2014 #55
No. But she certainly raised consciousness, certainly put a spotlight on what is happening. djean111 Dec 2014 #56
Actually, any Senator acting alone can place a hold on a bill, they can do so anonymously Bluenorthwest Dec 2014 #103
Thanks for that info. I do think that the bill should have been stopped until some of those djean111 Dec 2014 #104
Rec'd for the BOLD REC # !!! cui bono Dec 2014 #59
There's another thing you seldom, if EVER, hear about! calimary Dec 2014 #63
Excellent, excellent post. Here's to BOTH Roosevelts!! RiverLover Dec 2014 #95
Excellent Speech Dirty Socialist Dec 2014 #65
+1 Enthusiast Dec 2014 #70
I'll be a Warren voter but God I hope we're not electing people on speeches...nt MadDAsHell Dec 2014 #75
As a new Senator, is she supposed to have more influence over Congress than merrily Dec 2014 #81
Been there, done that! RiverLover Dec 2014 #93
.... merrily Dec 2014 #99
Well lets see,we had Bill Clinton's long drawn out speech of INdemo Dec 2014 #101
This speech goes beyond Senate consumption... Eleanors38 Dec 2014 #106
 

Voice for Peace

(13,141 posts)
54. I just had an election shiver, like before Obama was elected.
Sat Dec 13, 2014, 09:34 PM
Dec 2014

She can't not run now. She has totally eclipsed Hillary.

INdemo

(6,994 posts)
84. The sad part of this is, with the
Sun Dec 14, 2014, 08:15 AM
Dec 2014

recent action by Democrats in the Senate and bowing to the Republicans in the spending bill, Democrats don't care if a Republican wins in 2016.And they would not want Elizabeth Warren as President because it would cost some Democrats their job.
If Elizabeth Warren would in 2016 she would bring with her real Democrats replacing Republican lites so a to build an actual functioning Democratic Caucus in Congress.

marym625

(17,997 posts)
7. hmmm. interesting
Sat Dec 13, 2014, 10:42 AM
Dec 2014

I suppose you could say that about her quote. She doesn't say "I will complete my term as senator" but "I plan to complete. .."

Ok. That'll be good.

InAbLuEsTaTe

(24,122 posts)
9. Yup yup. She's running all right, when the party base demands it. Otherwise, they will threaten to stay home and Hillary will be a two-time loser.
Sat Dec 13, 2014, 10:49 AM
Dec 2014

But if Elizabeth does run - and she will - then I think Hillary will get out of the way realizing she has no chance against the Warren juggernaut.

marym625

(17,997 posts)
12. I can't believe any Democrat
Sat Dec 13, 2014, 11:00 AM
Dec 2014

Liberal or progressive even supports Hillary. If she does run, I will volunteer in a campaign, in the primaries, against her.

InAbLuEsTaTe

(24,122 posts)
16. Yup, I'm ready to go to work for Bernie if Elizabeth comes off the fence and ultimately decides she won't run.
Sat Dec 13, 2014, 11:04 AM
Dec 2014

But I do think she will run and Hilary will graciously bow out, in which case I will be going to work for Elizabeth's campaign.

marym625

(17,997 posts)
19. I just posted a poll on the two
Sat Dec 13, 2014, 11:09 AM
Dec 2014

One of them will run. I'm curious to see which the DU people think should

 

AtomicKitten

(46,585 posts)
76. get out of the way?
Sun Dec 14, 2014, 06:31 AM
Dec 2014

graciously bow out?

you on the crackpipe, son?

omglolsnort! she wouldn't concede when she lost last time

merrily

(45,251 posts)
79. She never bowed out in 2008 after it became mathematically impossible for her to win.
Sun Dec 14, 2014, 06:52 AM
Dec 2014

McCain was running, but Obama had to keep going with pointless primary efforts because of her. I suspect it was because she wanted to keep dividing the Party (PUMA-Party Unity My Ass) so that she could cut a deal with Obama about her and Bill campaiging hard for him if he would......

And here is Clinton loyaltist, James Carville, smirking while flaunting his PUMA sneakers at the DNC convened to nominate Obama.




INdemo

(6,994 posts)
86. Hillary could run on the Republican ticket and be right at home
Sun Dec 14, 2014, 08:18 AM
Dec 2014

...and would get votes.She is the best candidate Republicans would have thus far

 

1StrongBlackMan

(31,849 posts)
25. Point of information ...
Sat Dec 13, 2014, 11:26 AM
Dec 2014

those seating home (or threatening to) if their favored candidate doesn't run (or doesn't win the primary) ARE NOT THE PARTY BASE!

Dragonfli

(10,622 posts)
58. Well, the party's base these days is CitiBank et al.
Sat Dec 13, 2014, 11:35 PM
Dec 2014

If the nominee is Clinton they likely won't be among "those seating home" - but you're in for a surprise if you think they won't just vote Republican if Warren is the nominee. The base these days is not comprised of Democrats per se but rather business partners of sorts, if your candidate is not in business with these powerful interests then they simply vote Republican (except for the very rare instances where the Republican isn't in business with them - then they be seating home maybe).

INdemo

(6,994 posts)
102. If Elozabeth Warren runs there would be
Sun Dec 14, 2014, 10:03 AM
Dec 2014

people coming out of the wood work to vote and contribute
The election of 2016 is not just another Presidential election. The election of 2016 will be a referendum about our Democracy.
Do we allow Corporate mafia, Wall St and the Banks to completely absorb our Democracy.

With Obama it was about saving our economy.There is much more at stake in 2016

The Whole world is watching us.

 

cascadiance

(19,537 posts)
42. And of all of them that might she has the MOST to lose announcing early on...
Sat Dec 13, 2014, 05:01 PM
Dec 2014

Which of all of the potential candidates for 2016 do you think that Wall Street and other corporate lobbyist money would aim at most to shut down as soon as they were to announce they were running for president. If you don't know the answer to that question, you are either stupid or complicit with the corporatist propaganda spinners...

I love Bernie Sanders and would think he would also make a great president, but consider these variables that I think makes Ms. Warren a better candidate at this point:

1) As a woman with Hillary Clinton likely being the other major candidate for the nomination, no one would be able to play the "gender card" in shutting down Ms. Warren, or elevating Ms. Clinton when they are battling each other. They would both need to focus on issues, since their identities as both being white women would be equivalent. That would make for a healthy nomination process where the issues would have to be discussed, and hopefully the issues that Ms. Warren would bring up much to the dismay of corporate media as well that would like to not deal with framing a discussion on such issues.

2) Bernie will still also have to deal with himself "becoming a Democrat" to be in the nomination process, as he knows that is the only way he will really positively affect and be a contender in the race for 2016, and not be looked on as a new "Ralph Nader" in a system that is rigged to only allow for one of the two major parties to be a real candidate. Warren won't have that baggage. I don't think that Bernie should have to deal with that, but that is the way it will become a distraction from us focusing on a debate on issues as well.

3) Ms. Warren, as documented here, may not have the political experience of other political candidates, but she would DWARF the experience and the public's desire for her knowledge and perspective over other potential candidates of what has affected the middle class and the 99% from the bad economy we've had lately, as noted from this speech she made before she was on the political radar before the election in 2008, and right before the big meltdown then.



4) I think her age in 2016 would be perfect for her to run then. If she waits an election or two after that, she might be viewed as too old for the office then. She also doesn't have to worry about running for president and the senate in the same year, as she wouldn't be up for reelection in the senate then. That way, even if she doesn't win the nomination, she could continue to be a great senator from Massachusetts.

AikidoSoul

(2,150 posts)
60. You are the only one on DU who gets this that I know of
Sat Dec 13, 2014, 11:52 PM
Dec 2014

"And of all of them that might she has the MOST to lose announcing early on..."


For her to announce her plans too early would be political suicide. She needs to ride in on her white horse at the
latest possible time.

Meanwhile there is a movement growing to support her leadership in any and all ways possible -- one can hear the drum beating for her from all corners of this country.

For the time being, she just needs to be what she does best. She inspires trust and hope for the future of this country as she does battle with those who would ruin it in the name of greed lust.

merrily

(45,251 posts)
77. Obama used to say he wasn't running in 2008. Hillary said she hasn't made up her mind about 2016.
Sun Dec 14, 2014, 06:42 AM
Dec 2014

I didn't believe either one of them.

People fudge about running; people change their minds about running.

Does that mean Warren will run? No clue. But, I am not counting anyone in or out yet. Time will tell, not DUers anxious for a Hillary coronation.

Blanks

(4,835 posts)
6. Here's the quote that I think summarizes the speech best.
Sat Dec 13, 2014, 10:31 AM
Dec 2014
Think about that kind of power. If a financial institution has become so big and so powerful
that it can hold the entire country hostage. That alone is reason enough to break them up.


The video is too long and she talks too much to keep an audience of ignoramuses (aka Americans) interested.

If she's gonna be running for president, she's gonna need to write more concise speeches. I think she's great, but the people who need to hear her - they won't have a clue as to what she's talking about.

RiverLover

(7,830 posts)
18. Well she was adressing the president & the senate. What I wish she would have said is
Sat Dec 13, 2014, 11:08 AM
Dec 2014
"Mr President, what the HELL is WRONG with you? Did someone switch you out for the guy running for president in '08 who said this:

"We didn't become the most prosperous country in the world just by rewarding greed and recklessness. We didn't come this far by letting the special interests run wild. We didn't do it just by gambling and chasing paper profits on Wall Street. We built this country by making things, by producing goods we could sell."
Barack Obama

Where is he?"


That would have been captivating. But not conducive to her cause in that senate speech, which was to speak truthfully & powerfully about something most are too timid to go near. And to change some minds.

RiverLover

(7,830 posts)
45. The president spent the night before calling Democratic House Reps trying to swing their vote to YES
Sat Dec 13, 2014, 06:55 PM
Dec 2014

and he succeeded with enough to squeeze this through the house by 13 votes.

And now you expect her to what? Praise him? He's fighting FOR Wall Street and derivatives, and putting our economy at risk AGAIN.

Probably was a deal so they wouldn't defund Obamacare. That, and the fact that Goldman Sachs & Citi were among his highest campaign donors...

 

rhett o rick

(55,981 posts)
107. We are Democrats and we hold our representatives accountable. Those that want to lock-step
Sun Dec 14, 2014, 11:56 AM
Dec 2014

follow a leader have no business in our Party.

hedda_foil

(16,375 posts)
40. She wasn't speaking to/of Obama, but addressing the Senator on the dias.
Sat Dec 13, 2014, 02:06 PM
Dec 2014

Senate protocol that the person sitting in the Senate president's chair be addressed as Mr or Madam President.

InAbLuEsTaTe

(24,122 posts)
10. Everytime I hear Elizabeth speak, I am so inspired, knowing that if ordinary people get behind her candidacy, that this country can do better.
Sat Dec 13, 2014, 10:53 AM
Dec 2014

George II

(67,782 posts)
13. Some Americans perhaps, not all...that is why only about 38% of registered voters....
Sat Dec 13, 2014, 11:01 AM
Dec 2014

...went to the polls last month.

I doubt that she'll run for President and, if she does, I doubt she'll even win the nomination.

Beyond her economic knowledge, she has very little other practical experience to qualify her for President.

thesquanderer

(11,990 posts)
41. Practical experience in other areas is not necessary.
Sat Dec 13, 2014, 02:08 PM
Dec 2014

re: "I doubt she'll even win the nomination. ... Beyond her economic knowledge, she has very little other practical experience to qualify her for President"

Economics is at the heart of virtually all domestic policy. She doesn't have foreign policy experience, but neither did Obama, Bush 43, Clinton, or Reagan, and they all managed to win both the nomination and the presidency.

Really, when it comes down to winning elections, I think what matters more than any experience is the ability to inspire. I think Warren has that. The issue is whether anyone running against her can be more inspirational (whether in the primaries or the general), and based on the names being tossed around so far, I don't think so. Barring some huge mis-step, based on the current likely field, I think if she runs, she wins.

AikidoSoul

(2,150 posts)
61. YOU GET IT!!
Sat Dec 13, 2014, 11:58 PM
Dec 2014



Really, when it comes down to winning elections, I think what matters more than any experience is the ability to inspire. I think Warren has that. The issue is whether anyone running against her can be more inspirational (whether in the primaries or the general), and based on the names being tossed around so far, I don't think so. Barring some huge mis-step, based on the current likely field, I think if she runs, she wins.


Enthusiast

(50,983 posts)
73. She is as qualified as anyone! Look at the qualifications of past presidents.
Sun Dec 14, 2014, 02:51 AM
Dec 2014

George Herbert Walker Bush: Decorated WWII veteran, Head of the CIA and Vice President. He did a bang up job!

 

rhett o rick

(55,981 posts)
11. So where does the President stand on this? Sorry, rhetorical, he showed us where he
Sat Dec 13, 2014, 10:59 AM
Dec 2014

stands when he nominated Antonio Weiss.

It's clearly the Warren Wing vs. the Wall Street Wing. It's time to choose a side.

marym625

(17,997 posts)
17. Summers is especially telling
Sat Dec 13, 2014, 11:08 AM
Dec 2014

He is the author of the End Game Memo. This guy orchestrated the collapse of the world economy. And then nominated for the fed? That's a wtf beyond the beyond.

I agree with you. Just think that Summers nomination is more telling than anything else when it comes to who President Obama is in bed with

marym625

(17,997 posts)
28. Definitely
Sat Dec 13, 2014, 11:33 AM
Dec 2014

But he gave them the power over him. Obvious since before the 2008 election.

Sad. Just friggin' sad

 

Eleanors38

(18,318 posts)
105. I sense this, too. At the risk of sounding tinfoil,
Sun Dec 14, 2014, 10:54 AM
Dec 2014

the banking elite, and some other corporate elements, have been preparing for sometime to counter a general economic & political collapse. When, not if, but When opposition develops it will be at the ballot box and in the streets. It will be neither pretty nor easy.

AikidoSoul

(2,150 posts)
108. Rhett Rick... please consider doing a thread on this
Sun Dec 14, 2014, 12:14 PM
Dec 2014

There is so much that was hidden from the public.

A thread on this topic would help clarify. I think you're referring to Richard Corday? If so, I know that Warren was pushing for him to get into the position of the CFPB.

Forgive me if this has already been discussed here. I've been very ill for months and basically out of it at every level.

I swear, Elizabeth Warren has somehow breathed new life into me!



On edit: corrected spelling on two words.

hedda_foil

(16,375 posts)
46. I'd never heard of the End Game Memo. It's explosive!
Sat Dec 13, 2014, 07:07 PM
Dec 2014

If you were also unaware, it's one of the Most important revelations Greg Palast has ever uncovered. Please, please read this article. It reveals what has been going on with the big banks, courtesy of Rubin, Summers and.Geithner, since the Clinton administration and Geithner played a big part.

http://www.gregpalast.com/larry-summers-and-the-secret-end-game-memo/


The year was 1997. US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks. That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial banks and investment banks. It was like replacing bank vaults with roulette wheels.

Second, the banks wanted the right to play a new high-risk game: "derivatives trading." JP Morgan alone would soon carry $88 trillion of these pseudo-securities on its books as "assets."

Deputy Treasury Secretary Summers (soon to replace Rubin as Secretary) body-blocked any attempt to control derivatives.

But what was the use of turning US banks into derivatives casinos if money would flee to nations with safer banking laws?

The answer conceived by the Big Bank Five: eliminate controls on banks in every nation on the planet – in one single move. It was as brilliant as it was insanely dangerous.

How could they pull off this mad caper? The bankers' and Summers' game was to use the Financial Services Agreement, an abstruse and benign addendum to the international trade agreements policed by the World Trade Organization.

Until the bankers began their play, the WTO agreements dealt simply with trade in goods–that is, my cars for your bananas. The new rules ginned-up by Summers and the banks would force all nations to accept trade in "bads" – toxic assets like financial derivatives.

Until the bankers' re-draft of the FSA, each nation controlled and chartered the banks within their own borders. The new rules of the game would force every nation to open their markets to Citibank, JP Morgan and their derivatives "products."

MUCH more:
http://www.gregpalast.com/larry-summers-and-the-secret-end-game-memo/

marym625

(17,997 posts)
52. Sorry, would have linked to Greg's website
Sat Dec 13, 2014, 08:58 PM
Dec 2014

But I thought it was common knowledge. But I am a Palast groupie of sorts. Best journalist in the world

Thanks for the info.

marym625

(17,997 posts)
89. I did one a while ago
Sun Dec 14, 2014, 08:43 AM
Dec 2014

I'm surprised so many aren't familiar

Sorry if this is the same link already put up. I'm sure Greg would be happy to have you order one of his many publications that address this and related corruption.

http://www.gregpalast.com/larry-summers-and-the-secret-end-game-memo/

AikidoSoul

(2,150 posts)
64. The Palast report is totally mind-blowing. He digs deeper than any investigative reporter
Sun Dec 14, 2014, 12:24 AM
Dec 2014

that I know of, although Klein and Taibbi are very good.

I live in poverty with chronic illness, but I do send Palast money when I can so he will stay as independent as possible. I know of friends who also send him money.

I've come to know that there are very few tenacious and trustworthy sources of information. Palast is a gem.

I just wish he wouldn't swear so much... but knowing what he knows... I guess I can't really blame him.

Thank you for posting this. I wish I had thought of it, as I do have a collection of his announcements, stories, etc.

I've just had brain surgery in late October, and am finally able to function. But it's slow going.

AikidoSoul

(2,150 posts)
109. I have two of his signed books after donating about $100 each time
Sun Dec 14, 2014, 02:11 PM
Dec 2014


He has dug so deep into corrupt policies and unfathomable greed and writes so compellingly about the people who do it, that I'm amazed that someone hasn't knocked him off! He's had a few close calls.

Palast and Warren are both a very special breed. They dig and don't stop digging until they get as close to the truth and bigger picture as possible. While Warren is somewhat dour, Palast is so gleeful and humorous when he breaks through the shields of lies to get to the truth. He never fails to describe with great humor what the shields to the truth look like....usually people in high places doing outrageous things for wealth.

And then there are his stunning posts on the character aptly named "The Vulture". Read about him and your stomach will feel queasy and you will know that there are people who are willing to destroy entire countries by stealing their wealth. This kind of greed is beyond my personal understanding.

marym625

(17,997 posts)
110. yep.
Sun Dec 14, 2014, 03:07 PM
Dec 2014

Me either. Just can't even fathom why anyone would be so greedy.

He's just awesome. Only real journalist left.

merrily

(45,251 posts)
91. What interest rate have people with any money in the bank been getting the last six years?
Sun Dec 14, 2014, 08:51 AM
Dec 2014

The banks have been loving those low rates. How about Main Street savers, though?

I don't know how Summers is worse than Bernanke and Geithner and Goulsbee and their ilk combined. Republican/New Democrat fiscal policies.

marym625

(17,997 posts)
92. I didn't say combined
Sun Dec 14, 2014, 09:00 AM
Dec 2014

But it was Summers that wrote the end game memo. That speaks volumes for me.

We can hate them all.

merrily

(45,251 posts)
94. Combined is what we have had--including Summers, actually. I don't
Sun Dec 14, 2014, 09:04 AM
Dec 2014

believe for a second that no one took his calls after he officially left the employ of the Obama administration.

Yep, we can hate them all, but what good does that do? Hating creates only ulcers and other bad physical and emotional consequences, not good fiscal policy.

merrily

(45,251 posts)
97. That almost describes all of fiscal policy anymore.
Sun Dec 14, 2014, 09:09 AM
Dec 2014

Tweedle Dum and Tweedle Dee and Thing 1 and Thing 2 are not far behind.

RiverLover

(7,830 posts)
24. Yes it is. This was a speech addressing the senate.
Sat Dec 13, 2014, 11:22 AM
Dec 2014

The author of the linked OP made the comparison that this speech has put her on the map, much like Obama's '04 speech to the DNC.

ucrdem

(15,512 posts)
26. The DNC would have been a better venue.
Sat Dec 13, 2014, 11:27 AM
Dec 2014

This has the appearance of a stunt and if the spending bill goes down a lot of people are going to get hurt.

RiverLover

(7,830 posts)
30. Her aim isn't a shut down, its to pass an amendment that takes out the Citigroup deal from the
Sat Dec 13, 2014, 11:39 AM
Dec 2014

spending bill.

ucrdem

(15,512 posts)
33. Is she offering an amendment?
Sat Dec 13, 2014, 11:49 AM
Dec 2014

She did say something about backing an amendment by John McCain but I think she said it was from last year.

ucrdem

(15,512 posts)
35. Apparently she's written an amendment with Vitter.
Sat Dec 13, 2014, 12:03 PM
Dec 2014

Figured it out from your other thread, thanks.

Horse with no Name

(33,956 posts)
27. I have 100% faith she and Bernie could turn this car around
Sat Dec 13, 2014, 11:29 AM
Dec 2014

I also have 100% faith that they will not be our candidates.

BUT if they are, they have 120% of my support. Screw #moreofthesame

99Forever

(14,524 posts)
29. Stand firm Sen Warren.
Sat Dec 13, 2014, 11:36 AM
Dec 2014

But PLEASE watch your back, the scumbags you are taking on have no morals or scruples, and I have zero doubt that they wouldn't hesitate assassinating you if they think they can. Consider the convenient death of Sen Paul Wellstone and NEVER, EVER get on a small aircraft. We NEED you to fight for us.

James48

(4,438 posts)
32. Lizzy for President.
Sat Dec 13, 2014, 11:48 AM
Dec 2014

Lizzie Warren took an axe,
And gave those bankers forty whacks;
When she saw what she had done,
She gave that Wall Street forty-one

eridani

(51,907 posts)
62. Lizzy Warren had the facts
Sun Dec 14, 2014, 12:19 AM
Dec 2014

That gave big bankers heart attacks
When we saw what she had done
Everyone said "Run, Liz, run"

ladjf

(17,320 posts)
39. We have two spectacularly intelligent, courageous and articulate
Sat Dec 13, 2014, 12:47 PM
Dec 2014

Senators. They are Senators Warren and Sanders. If the American people fail to place at least one off them in the White House in 2016, they will have missed an historic opportunity to turn our terrible National politics back into the type of Constitutional Government that we desperately need.

 

djean111

(14,255 posts)
56. No. But she certainly raised consciousness, certainly put a spotlight on what is happening.
Sat Dec 13, 2014, 09:53 PM
Dec 2014

She cannot stop bills all by herself, but that does not mean she should sit down and shut up, and it does not mean she did not do some good.
Too many blue dogs to stop that bill, and Obama certainly is not going to think twice about signing it.
The great shame is that fucking JAMIE DIMON was calling "Democrats" and urging them to pass the bill.
For me, the Democratic Party jumped the shark, right there.

 

Bluenorthwest

(45,319 posts)
103. Actually, any Senator acting alone can place a hold on a bill, they can do so anonymously
Sun Dec 14, 2014, 10:03 AM
Dec 2014

or with name attached. They do this all the time. I'm not suggesting a course of action, but I am saying it is not correct that she can not stop bills all by herself. She can. All Senators can and many do so.

 

djean111

(14,255 posts)
104. Thanks for that info. I do think that the bill should have been stopped until some of those
Sun Dec 14, 2014, 10:09 AM
Dec 2014

amendments were stripped out, but not stopped for long. At least a lot of people are now cognizant of what that bill contains. The next two years will, I think, be horrifying. I have no faith that Obama will use his veto pen for much of anything, and I think Reid will willingly bend to the majority.

calimary

(81,432 posts)
63. There's another thing you seldom, if EVER, hear about!
Sun Dec 14, 2014, 12:24 AM
Dec 2014

Teddy Roosevelt. Whose nickname (well, one of 'em, certainly) was "The Trust-Buster." NOBODY invokes his name or legacy under ANY circumstances, which is a little bit bewildering to me! AND he was environmentally conscious, too. Not perfect by a long shot, but MAN would he be a great candidate today. Certainly what we would need!

All I can say about Elizabeth Warren at this point is - "DAYUM, Girlfriend!!!" If NOTHING else, she should push Hillary Clinton back LEFT. I'm sure it's not lost on Hillary how this is stirring, and tapping into, the suppressed passions that move true Democratic and liberal and progressive hearts everywhere. She isn't stupid.

This may be a turning point. It depends. I hope it IS! But we've got the Christmas/New Year's break coming up and the short-term-memory outta-sight-outta-mind mentality that seems to govern too much of America. It'll be up to us to keep this alive when everything else is shutting down for the holidays. This HAS TO stay on the front burner. This issue, and ALSO the issue involving police overkill and multiple incomprehensible grand jury rulings and young blacks invariably winding up the victims. I've seen and heard more than a few comments in the media recently about how the Ferguson movement has NOT died down. It's expanded thanks to MULTIPLE further horrors, states away, incomprehensible tragedies that were so ridiculously unnecessary and avoidable. Ridiculous and hideous. We count on our police to make judicious responses to situations they confront in the field. I'm certain police from coast to coast, from officer to department, feel a big increase in public pressure. But CRIMINY! This is SHAMEFUL! It's a SIN. If one professes to believe in Jesus, then one simply MUST be against this. It simply HAS TO END. This is another one of those absolutes, seems to me.

But truly - is this, too, who we are? It's asked in a different context (torture) but it seems to apply just as much here.

I'm wondering if some national introspection starts to set in now. Dare I hope that when one lets republi-CONS be republic-CONS, one quickly discovers how badly they crap all over everything, and the next chance one gets, they're voted OUT? Do people really have to find out this hard a hard way - what it means in real life when you vote GOP? I wonder if a national examination-of-conscience is coming our way. And will this provoke the kind of reaction/response from Democrats as we saw this ignite in Elizabeth Warren and Nancy Pelosi? IS THERE a change coming? Is this the start?

Or will this be allowed to wither on the vine by early-January?

RiverLover

(7,830 posts)
95. Excellent, excellent post. Here's to BOTH Roosevelts!!
Sun Dec 14, 2014, 09:05 AM
Dec 2014

And to a national change of consciousness.

(If only FoxFiction & Propaganda would disappear, this would be much easier)

merrily

(45,251 posts)
81. As a new Senator, is she supposed to have more influence over Congress than
Sun Dec 14, 2014, 06:58 AM
Dec 2014

DUers claimed head of the Party Obama had?

INdemo

(6,994 posts)
101. Well lets see,we had Bill Clinton's long drawn out speech of
Sun Dec 14, 2014, 09:41 AM
Dec 2014

the 1988 Democratic Convention, then we had the Senator from Illinois's 2004 Democratic Convention speech and it seemed like it put them on the trajectory of their Presidential Campaigns. But yes I agree if speeches elected Presidents we are in trouble.

But I haven't never heard a Senator that spoke so sincerely about the middle class, working class Americans.

I have never heard any politician explain the bonding of/between Wall Street and the Congress.

Hillary Clinton could never ever give a speech like this because Wall St owns her.

 

Eleanors38

(18,318 posts)
106. This speech goes beyond Senate consumption...
Sun Dec 14, 2014, 11:05 AM
Dec 2014

and everybody who has heard it knows it. When she makes the speech "in public," then the game is up about all this will-she-or-will- she-not.

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