Archive for ‘Elizabeth Warren’

February 16, 2012

Contraceptives & “Religious Freedom”: A Cold Political Calculation

Elizabeth Warren, Democratic Massachusetts Senate Candidate, spoke tonight on Rachel Maddow about the very broad language in the recent contraception legislation introduced in the House. According to Warren, the legislative language is so broad (including “any moral objection” by an employer to cover “any type” of health care costs) that it opens the door wide open for employers to diminish and eliminate health care coverage for employees.

She calls it “a cold political calculation” to further diminish worker’s rights and benefits. She makes a very good point!

September 29, 2011

Elizabeth Warren Kicks Ass Explaining Taxation!

Elizabeth Warren beautifully explains why fair taxation makes sense! She is a breath of fresh air in politics. WATCH this video!! Or read more about it.

http://www.youtube.com/watch?v=htX2usfqMEs

June 8, 2011

Regulations Needed: Businesses Too Short-Sighted to Make Good Decisions for USA.

Elizabeth Warren’s work on consumer credit has inspired the creation of the Consumer Financial Protection Bureau (CFPB), which aims to protect citizens from financial scams by better informing them. Not only does the CFPB aim to protect the consumer, but it also intends to help business. However, like a child with little long-term thinking, businesses don’t appear to understand what is needed for their own success.

History shows that consumer protections have vastly increased business revenue, even when those businesses unsuccessfully tried to fight the legislation in fear that it would decrease their profits. For example, the meatpacking industry hated the Meat Inspection Act of 1906, and tried to get in the way of its passage. However, the Act ended up rescuing the industry from destruction after “The Jungle” exposed its corruption. In addition, the SEC was originally thought to destroy Wall Street, but instead made the US stock market the strongest and most trusted stock market in the world.

Given our current extreme partisan political landscape, you can bet that businesses are again predicting doom as a result of Warren’s suggested changes – and are demonizing her and painting her as a liberal radical. But to the contrary, her ideas are time-tested, sensible, and pragmatic.  Luckily, the people have been standing strong behind Warren. Over the last few weeks around 250,000 people have signed an online petition asking President Obama to nominate Warren as leader of the Consumer Financial Protection Bureau. We need to keep up this fight!

Warren’s principles center around the economic theory that well-informed consumers create more competition and more efficient markets. Currently, mortgage and credit-card agreements are filled with legalese and important numbers are obscured by irrelevant information. As a result, borrowers don’t understand how much they are actually paying, and so competition is unable to provide a better deal to the consumer. Let me say that again: because the true information has been made so confusing and hidden, competing companies cannot offer better deals because we wouldn’t understand that they ARE better deals – as we don’t even understand the deal we currently have. This then pushes competitors to only offer the same type of horrible deals since they are more easily advertised (such as teaser APRs or no money down). However, both consumer and banking institutions would actually benefit from credit cards that had higher up-front costs but lower penalties. If people were provided with clear and simple information about what they were signing up for, they would understand this and be able to make more sensible choices. This is exactly what Warren’s mission is.

Read more here.

May 31, 2011

‘The Cult of Elizabeth Warren’

What began as a taste-less accusation by Representative Patrick McHenry has become something larger and harder for him to contain.  Last week, Rep. McHenry called Elizabeth Warren a liar, in testimony and in action.  This rude, yet innocuous, statement received a large and near-immediate response: Representative McHenry’s Facebook wall was bombarded by thousands of posts either defending Ms. Warren or attacking McHenry (in ways both political and personal).

This particular phenomenon was the impetus for a recent article by Tiffany Stanley at The New Republic, who wanted to find out the kind of people support Warren so much as to take to the internet and voice their collective distaste at McHenry’s accusations.  What Stanley discovers catches her off-guard: “they were by no means the same Internet-savvy millennials that pioneered Obama’s web support in 2008… But my cursory phone survey lent further evidence to the fact that Warren fan clubbers are overwhelmingly 40-plus, boasting a fair number of retirees in their 60s.”

The rest of the article goes on to explain why these surprising demographic data made sense: her appearances on popular television shows like The Daily Show and Dr. Phil, her grasp on the causes of the financial meltdown, and her ability to break down complicated economic ideas and data and condense them into easily-digestible bits, among other things.

Although the byline of the article refers to supporters of Warren as ‘the Cult of Elizabeth Warren’ (a characterization I wholly disagree with), it lays bare the kind of people that are supporting Warren.  Put simply, it’s us.  Her constituency is that of the working men and women in this country.  This is what needs to be made evident to President Obama and Congress if she is to be appointed as the head of the CFPB.

Link to article: http://www.tnr.com/article/the-hill/89148/elizabeth-warren-facebook-consumer-protection-patrick-mchenry?page=0,0

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