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Elizabeth Warren, Consumer Crusader

Scourge to fat-cat bankers, Elizabeth Warren talks about finance reform and protecting Americans, in a special broadcast.

Tom Ashbrook and Elizabeth Warren in Boston, June 7, 2010. (Credit: Josh Lavine for WBUR)

This week, the House and Senate sit down to begin to hammer out a final bill to reform American finance — to reform Wall Street. 

Glaring at them from one side will be Wall Street, with its big money stacked up against big reform. 

And from the other side, front and center, will be Elizabeth Warren. The super-outspoken overseer of the Troubled Asset Relief Program – that is, Wall Street’s bailout – has become a fierce champion of America’s middle class. 

What does she think of the coming reforms? 

This Hour, On Point: we ask for Elizabeth Warren’s assessment of Washington’s Wall Street reform, in a special broadcast, recorded live before an audience.


Elizabeth Warren, professor at Harvard Law School and chair of the Congressional Oversight Panel, created to investigate the U.S. banking bailout. Since 2007, she has advocated for the creation of a new Consumer Financial Protection Agency. She’s written several books, including “All Your Worth: The Ultimate Lifetime Money Plan.”

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  • Lee

    The banks, while borrowing from the Fed at historically low rates, are charging usurious rates on credit cards, which right or wrong, are used by many small businesses to finance working capital, payroll, and/or growth. The double digit rates make it all the harder to get out of debt without filing bankruptcy.

    1. How is this helping the economy?

    2. Why shouldn’t people be able to take five year loans from IRA’s (the way one can borrow from a 401k) without paying a 10% penalty if repaid within 5 years? Wouldn’t it be better to sue this money to either invest in one’s own business or pay off usurious rates of credit cards? Isn’t paying off double digit rates on debts better than any return most get out of the public markets??

    Thank you.

  • Brett

    Elizabeth Warren for president!!!

  • Todd

    “Elizabeth Warren for president!!!”
    Posted by Brett

    Yup, I could definitely support a ticket with her name on top!

    But, in the interim, why not Elizabeth Warren for U.S. Supreme Court nominee? Hmmm…Justice Warren…kind of has a nice ring to it!

  • michael leslie

    I’ve followed Ms. Warren for years now as she was a voice in the wilderness about unchecked credit card mischief and bank malfeasance. She and Bernie Saunders of Vermont were instrumental in getting the credit bill passed. My question is. What does she think of the bill and now that she is in Washington does she find her voice more restricted or more powerful. Thank You Michael Leslie

  • http://www.richardsnotes.org Richard

    Elizabeth Warren is one of the most impressive people in government today. I trust this woman to stand up to banks, Congress, and even President Obama to do right.

    Not to slight her but isn’t it a shame that her honesty and straightforward character (among other things) make her stand out from the pack.

  • nick

    I wish we had politicians like Elizabeth Warren. If we did, we would still be a Middle Class nation and that would mean the we would be a wealthy nation again because the wealth of a nation is not in it tiny percentage of extreme wealthy at the top but in its Middle Class – something our elected politicians forgot.


  • Jay

    For her, Elizabeth Warren, competition is simply a “race to the bottom to develop new ways to trick customers,” and so we should expect her to create a ‘stable’ industry, like in our education and postal industries, where there is limited competition but lots of guarantees, and little or no productivity growth. She knows what banking customers want, and so doesn’t trust a market to provide quality services and products because evil CEOs hypnotize their customers into thinking they want things they really don’t. A better definition of a do-gooder cannot be found. I think she might be successful in her primary objective, in that socialist countries were immune from financial crises. I just think she doesn’t realize this cripples GDP growth, as highlighted by the Cold War ‘experiment’. After all, you can keep a pet from getting sick by killing it, if that’s your sole objective.

  • EIO Boston

    It is interesting to read these postings. If you think she can run in an election and will not be labeled a “big” government candidate and a socialist, you must live on the moon. We critcize the moderate candidates to death in this system. They are crucified before they could perform. We Americans seem to have sold our soles for dollars. We like the government of our backs , but we need the government to help level the fields when we are getting ripped by private industry. Private industrye needs the government to enable them to cheat us. We the public rally around people who chapion no government everyday but have made their career and fortune working in or lobbying the government.

    Goodluck everyone.

  • Jay

    Bad things aren’t the result of evil intentions, so much as smart people overconfident in their ability to make the world a better place. They see people who disagree with their means as disagreeing with their ends, totally dismissing the possibility that they could be making things worse. She thinks her new fiefdom, the CFPA , will
    consolidate seven separate bureaucracies, cut down on paperwork, and promote understandable consumer products. In the process, it will stabilize the industry, rebuild confidence in the securitization market, and leave more money in the pockets of families.

    Oh, really?
    When has a new bureaucracy reduced bureaucracy? When has it ‘cut down on paperwork’? The pages of fine print and endless places to initial are because of our laws and regulations, not in spite them. Will the bureaucracy make people wealthier? Well, government’s the main place of employment growth, so I guess things are looking up

  • Jay

    We should first ask Elizabeth Warren how she defines a right.

    Is it possible for Americans to have a right to something even if it must be provided by someone else like healthcare? By saying that healthcare is a right, you are basically saying either that healthcare workers are slaves and don’t have rights or that any time a government steals money from one persons pocket, tax, and gives it to another person in the form of healthcare…. viola … you have a right!

    You can’t possibly think this is OK !

  • Jason S

    The new healthcare bill was only 2,000 pages and it only created about 20,000 new regulations. I am sure it will make everything easier and more streamlined.

    Elizabeth Warren’s new proposals will add how many thousands of pages of laws & regulations? It will be so easy everyone will know it and we won’t even need thousands of lawyers to understand it…. RIGHT

  • Jason S

    Elizabeth Warren, how is it possible for a person to stave off bankruptcy by spending more money? and is this why you believe so much in the TARP program’s ability to pull the US economy out of the brink of bankruptcy?

    If government spending is so great, why didn’t we increase the tarp spending 10X? Wouldn’t we be living in complete bliss?

  • Ellen Dibble

    Forgetting for a moment “where money comes from,” i.e., banks or government printing presses (or the equivalent IOUs), it is a shocker to me what “money” goes to in the USA. Usurious loan rates clearly go to someone’s emolument, maybe call takers in Bombay. Meanwhile the USA goes down to perdition in a swamp of national debt. A letter came to me from the government Saturday, “We want to give you $15,000 because you owe $42,000; get in touch with us by 6/21 to collect your money.” They don’t know that 42 grand has set me up to live a profitable and healthful life and that the interest rates are close to zero and that I can pay it off handily. I don’t want my taxes to do that.
    I also don’t want my taxes to be paying people to be unemployed. If there were 20 unemployed people, I’d say fine, give them money while they look for work. But when you’ve got armies of unemployed, we are paying people to be couch potatoes or worse when we have desperate national needs for railroads, for instance, all sorts of things the government could help get off the ground while the banks get in gear (oh so slowly) to support private businesses to get them stable and growing.
    Again, all that unemployment money — during the Depression, didn’t FDR make sure we were building “muscle” during bad times, WPA, TVA, etc.? Weren’t we ready to turn on a dime after Pearl Harbor? Now are we ready to turn on a dime after Deep Water Horizons?
    Consumer protection might include taxpayer protection to say we want problem-solving not nanny-sitting of a doddering nation. In short, leadership.

  • Washington is not thorough

    I still don’t understand how govt can pass a healthcare bill, but not have a plan to limit premium increases (and I’m for it, it’s a good thing); how it can help credit card reform, yet not limit the interest rate increases for NON-defaulted consumers? Is Washington that naive to think if they negotiate in good faith with these industries that they will do the right thing and just say, “Gee, guess we’re not going to make as much money as we used to anymore.” Give these two industries any iota of a way to make back any restrictions DC imposes on their profits and they will take take take it.

  • Jason S

    I agree with Ellen Dibble. Anyone getting unemployment for more than 4 months should work for their government check. They should pick up trash, plant flowers, empty trash cans, paint buildings, dig ditches, or any other minimally skilled labor acts for at least 15 hours a week and the hours/week should increase to 30 hrs per week by the time people are unemployed for 1 year

  • Mark from Vermont


    Thank you for being a vocal supporter of the middle class through one of the most turbulant times in American history. I currently am a senior at the University of Vermont and have accumulated an exorbitant amount of private student loan debt – I fear for my financial security in the future and my ability to pursue the American dream. Do you have any suggestions for students who are just entering the job market and whether there are any structural solutions to this problem?

  • Fletcher Moore

    “By saying that healthcare is a right, you are basically saying either that healthcare workers are slaves.”

    Liberty is a right. Does that mean cops and soldiers and others who defend your liberty are slaves?

    “The new healthcare bill was only 2,000 pages and it only created about 20,000 new regulations.” 20,000 regulations is just glib bullshit.

    “Elizabeth Warren, how is it possible for a person to stave off bankruptcy by spending more money? and is this why you believe so much in the TARP program’s ability to pull the US economy out of the brink of bankruptcy?”

    The government is not a person. Household budgeting rules don’t apply to the institution that prints the money.

    God almighty, the ignorance on display today is staggering.

  • jeffe

    Lets be honest here the banks, wall street, health insurance corporations, big pharma, and the oil industry own this country. We the people do not have a voice or a choice.

    I don’t care what gets done they will all find a way to take control in the end.

  • Ellen Dibble

    Mark, this is not a live broadcast. This was an event last night, I realized. Sad.
    I’ve thought a lot about student debt, and I heard the president say he wants to set things up to give some flexibility for graduates in your position. I assume that will happen several years from now, but things like year of national service in exchange, or various deferments. There should be a whole show on that. I suspect students and their parents are up on it. My own experience was I got out of college with no loans, which liberated me to live for a decade or so a standard of living so low that it shocks me now. I couldn’t afford to run the refrigerator. I made yogurt on the windowsill. Babysitting money for food, two part-time jobs, and never ever touching my $1500 savings from high-school jobs, because it was all the security I had. It was awful, very isolating, but nobody expected much of me.
    If anyone had loaned me money for my schooling, “they” presumably would be pushing me to “make it in Massachusetts” or Vermont. I guess you can’t languish in poverty, for better or worse. Where my life-bending costs were un-covered medical expenses, yours are education costs. You may re-consider someday whether it was worth it. Hopefully not.

  • cory

    1. Can humanity exist as a stable entity, or must we grow to succeed? I question the model of required growth.

    2. I am jaded enough to say that there is no way these attempts at financial reform will be successful. I can’t believe that in the end big money won’t carry the day. Things can be changed, but I think they must be catastrophically bad in order to properly motivate us to do things right. After the recent financial crisis, the interest rate on my credit cards jumped over 10% without me doing a thing! I don’t see these companies relinquishing this power easily.

  • Jay


    Bankruptcy is the solution for failing companies!

    Why did you take this market discipline away!?!

  • Rick Stewart

    She has passion, but lacks basic understanding of how an economy works. I get the impression she doesn’t listen well.

  • jeffe

    She has passion, but lacks basic understanding of how an economy works. I get the impression she doesn’t listen well.
    Posted by Rick Stewart, on June 8th, 2010 at 10:38 AM

    And wall street and the banks do?

  • BHA

    How do we get Wall Street out of the gambling business and into the business of funding sound businesses.

    - short selling should be illegal – if you don’t own it you should not be able to sell it

    - it should be illegal to create any ‘instrument’ that bets against the market. If a person thinks a business is not sound, they should sell what shares they have or not buy shares in the company.

    - it should not be possible to get insurance for investments.

    - ‘too big to fail’ businesses should be broken apart – nothing should be too big to fail

  • Ellen Dibble

    Jason S., I really didn’t mean digging ditches, planting flowers, emptying trash cans, other minimally skilled jobs. Why? It seems to me you refer to things that are right under our noses every day. A city will call out volunteers to do that sort of thing if need be.
    What the government can and should do is endeavors that are not yet part of the fabric of our lives. We need a new network of recharging stations so we can go around in little rechargeable tootle-boxes. Maybe parking meters should also meter a kind of energy they dispense while you park. Who sets up those parking meters? While the Titanic sinks, we sit on the decks and play the violin.
    Who would say no to distribution systems of non-oil energy? Also electric lines that can carry solar energy from the desert and wind energy from the Great Lakes? Are we waiting around for the Rockefellers and Vanderbilts of the 21st century? Apparently.
    The first baby steps can be done, with people like Energy Secretary Chu at the helm. If the only county with zoning boards on board for such a project is in rural Utah, then start there. But let’s get off this “oh, what a victim I am. Let’s wait till we can start buying product from China again and declare victory.” We have to be homesteaders again and move to where the jobs are. We need to learn new skills as we go and not be doing jobs that feel like the remainders, painting the yellow lines. No, lead us to the new gold, the future.

  • JP

    “God almighty, the ignorance on display today is staggering.”

    It’s just one person and his comments are repeated daily… I think people are finding them easier and easier to ignore.

  • Bhaktidev

    Stephen Lendeman of Global Research and Ellen Brown, author of “Web of Debt” say our pending “financial reform” is looking very weak and insufficient:

    Obama’s Financial Reform Proposal: A Stealth Scheme for Global Monetary Control

    by Stephen Lendman


    “When politicians plan reform, it’s wise to be skeptical and hold on to your wallets. So fixing the economy by bailing out Wall Street is wrecking it, and Obama’s proposed health care reform taxes more, provides less, places profits above human need, avoids the most vital solutions, and leaves a broken system in place.

    Now there’s “Financial Regulatory Reform, A New Foundation: Rebuilding Financial Supervision and Regulation” – announced June 17 with Obama saying he’ll send Congress a plan to create new government agencies, give the private banking cartel Federal Reserve more power, and address five major problems needing regulatory and legislative measures to fix….”


    Why State’s Should Own Their Own Banks
    How Banks Make Money on Low-Interest Loans



    “…The Federal Reserve and the U.S. government have gone to extraordinary lengths to keep a corrupt banking system afloat, including buying toxic assets off their books and making credit available nearly interest-free, all in the name of turning the credit spigots back on on Main Street; but the banks have not kept their end of the bargain. In fact, they are just doing what their business models require of them – making the highest possible return for their shareholders. Publicly-owned banks operate on a different model: they must serve the community. Like China, India and Brazil, U.S. states would be well served to set up publicly-owned banks that could provide credit to the local economy when the private banking scheme fails.”

    My comment:

    America: get up off your knees, throw out the incumbents of Congress. You do not need to be ruled by Wall Street and international money.

  • Jason S


    I am a stock holder like 75% of the US population so I own health insurance corporations, big pharma, and the oil industry.

    If you destroy US industries, you destroy jobs, investments and peoples retirement income.

    You should take an econ class before talking economics!

  • BHA

    “This was an event last night”

    That sucks. WHY is this NOT noted at the TOP OF THE PAGE?

    They should pull the ‘you can join the conversation’ bits since Tom and the guest aren’t reading the posts anyway.

  • Kevin

    Good fundraising opportunity for sure, but Elizabeth Warren with a live audience didn’t seem like a good fit for the quality of journalism usually on the show.

    You could even hear Tom pause for an applause line at one point.

  • http://ncpr stillin

    For the umteenth time, can we PLEASE make people who will receive unemployment BE SURE the peson pays THEIR CHILD SUPPORT OR NO UNEMPLOYMENT BENEFITS. There are so many loopholes with child support, that’s ONE we could close and save millions. What about people who don’t have to pay property, county taxes..ie. renters. If you don’t have to pay out for taxes maybe you don’t need the free uncmployment money. Once again, my husband drives around a bmw, pays nothing in child support, pays no taxes for school, county or village and MY HARD EARNED MONEY IS GIVEN TO HIM TO GO DRINK ON. Note, he has been on unemployment off and on his entire life. When he works, he makes 3 thousand AFTER TAXES on the world trade center site, and he pays in NOTHING. I am sick of it.

  • Natalia

    Agree!!! Elizabeth Warren for President!!!

    BTW: RE Usury: I read in Nat’l. Geo. some years ago that the ancient greeks had a law against usury – Any interest rate above 3% (Yes, that’s three percent!) was considered usury and punished by death…

  • jake

    so, no elected office. how about the supreme court?

  • Ellen Dibble

    Warren is talking about the soaring costs of housing, health insurance, and credit, as three pieces of the middle-class problem. Yes, yes, yes.
    Housing has been created to be a profit-making entity, as if each were a factory producing product (i.e., value). The result is nobody can afford housing until that somehow changes. The cost of a house, minus the cost of the mortgage itself is the issue. To me, the community wants the bankers and lawyers and realtors to get their pay-off or you aren’t really a part of the community. If you buy in without their pay-off, that’s not so good. You aren’t expecting your property to “appreciate.” You won’t be into yuppifying your community. Please leave.
    Health insurance — people are tethered to jobs by home ownership and also by “free” health insurance, which has spiked to where you are more or less obligated to play a bit part in the status quo, in corporations already established. You can’t quit your job easily. You’d have to sell your house. You’d have to go naked health-care-wise, most likely. The reforms don’t really change that (says a person under the Massachusetts system, where the new plan has been in place for a few years). Who did that to health care? The lobbyists. The advances that require we all be offered ever-so-costly services. The unions who set the standard so very high.
    Credit. I noticed, too, Cory, that bank rates spiked without my doing anything. They will find a way if at all possible to be charging 20% interest on let’s say a new annual fee, which at 20% becomes outrageous fast.

  • bruce

    Ms. Warren should blame consumers that borrowed more money thn they were qualified in their heart.

  • http://www.gemnconsortium.org Marcia Cole

    I feel fearful that three women are in prominent positions to impact society and politics. I feel it is not true or something is ……. is frightening. CAN WE ACTUALLY HAVE CHANGE? WILL WE LET WOMEN LEAD IT?
    It is to revoltionary–I am fearful because the moment seems like Ghandi or Martin Luther King Jr. Too good to be true?

  • David Boyd

    Thank you Elizabeth Warren for common sense and championing for the middle class people and ending what’s wrong in the financial mess caused by Washington beauracrats. Everyone needs to sned,email this “On Point” interview to everyone they know and have them send it to everyone they know. Then everyone needs to call they’re congressmen aqnd state representatives and tell them to listen to this and to get on boaard. Enough is enough, we need help out here and it’s time to start listening to the people instead of the lobbist. (Outlaw lobbist!!)

    My second concern is there is a two party system and neihter one of them represent me. It’s time to get rid of this system and get rid of party loyalist. They are ruining America.

  • jeffe

    Jason S,
    Let’s do what you want, let all the corporations do whatever they want with little or no regulations.

    If they screw up we bail them even after we lose our jobs and savings. Lets keep paying all those high premiums for health care so people like you can make their devidends.

    Jason S don’t lecture me on economics as its’ clear that you are only interested in your own investments and how much this rigged system can do for you. It’s clear to anyone with half a brain that our system is in trouble and from my point of view, and Elizabeth Warrens, is failing the majority of people in this country. Except you.

  • JP

    The joke is, “Jason S” very likely has a ridiculous pittance invested and is just the kind of person the big banks use as fodder for their own personal gain… he’s just not smart enough to know it.

  • Gerald Fnord

    0.) CEOs don’t individually hypnotise us. However, they are practical men (almost all men, in fact), and would not spend billions trying to persuade us of things if they didn’t get value for their money. Reality is not subject to democracy, but it isn’t subject to the Market either, and the reality is that many products and viewpoints advertised are ‘bad for us’—not according to some élite (and probably hook-nosed) Ivy League snob point-of-view, but from that of a reasonable, unadvertised-to, person presented with the facts of what their effects are.

    1.) Reductos ad absurdum are straw-men: for example, I can be in favour of raising the _marginal_ tax on incomes over $1M/year to 60% without being in favour of raising it to 100%, or making the 60% applicable to the entire income. Similarly, one can back _more_ regulation than we’ve recently had without backing the complete control presented as a straw-man here.

    2.) Reality is bigger than ideology. No system is perfect, no model perfectly describes an optimal reality, not least because (as the Freimarketolatrous among us like to remind us) what is optimal for some may not be for others…e.g., I count the Koch Bros as being among those who would get off on being rich men in a world of poor people who would be more easily bought thereby—physical force is not the only sort of force around for dominating other people, people have used economic force swimmingly therefor—but I think that such a world would be bad for everyone else. (Yes, I’m an élitist: I’m willing to tell the world that it is in fact ‘bad’ for people to be hungry, exhausted, and ignorant, no matter how many commissars or wealthy men insist otherwise and have their purchased or cowed choirs repeat.)

    Be that libel as it may, the point is that we must be able to choose from ways of reacting—everything from ‘let market forces decide it’ to ‘massive evil Big Gummint intervention’ and all points between, as conditions and our ability to evaluate them permit.

    3.) If you make unemployed people work, you’re ensuring that more people will stay unemployed longer. To characterise unemployed people as lazy non-persons sounds more like a defence mechanism to reassure yourself that it can’t happen to _you_—always a popular human pastime—than a description of reality. Of course, many of us hate our jobs and resent doing them, but that’s no reason to hate those who’ve escaped briefly (on the scale of a lifetime), and at some real cost to them; nor is the pain and humiliation by which we get our money a reason to believe that it is really all ours—I program computers using a keyboard presenting Roman letters and Indo-Arabic numbers and mediæval symbols, and invented none of those, so I agree with Ben Franklin that property above the level of a rude hut is always at least partially the creation (his time’s ‘Creature’) of society, and so answerable to that society’s exigent needs (‘…not to be considered as conferring a Benefit on the Publick, entitling the Contributors to the Distinctions of Honour and Power, but as the Return of an Obligation previously received, or the Payment of a just Debt,’).

    We may of course disagree about how much safety vs freedom is a good idea, including as they do the possibilities of the safety of a moribund society and the freedom to starve and be exploited, but that’s what politics are about. Acting as if our preferred vision represents prosperity and liberty, and all others autocracy and ruin, is willful blindness, or else unwarranted self-confidence.

    (Incidentally, as a Social Democrat, I can tell you that Obama’s actions barely come close to any of that, much less Socialism—he’s in the long line of people who are trying to make Capitalism just palatable enough that we’ll stand for it, in the process enriching the rich in the long run, though not at the expence of the rest of us.)

  • Ellen Dibble

    BHA, it does say up top that it’s a rebroadcast, and note the sidebar up top. They’ve been promoting this event (probably a fundraiser as well) for a long time.
    But, BHA, I have noticed that the producers pay some attention to the threads, and if something comes up (like your suggestions above), somebody might notice, and somebody might get an idea for another program based on the ideas and concerns that are raised here. I’ve noticed when this happens. In fact, when the discussion is especially interesting here, it seems impossible for the live action to really take it on board. A producer might flag one and flash it to Tom, but might not. My impression.

  • informed American

    The time is long overdue to reinstate the Glass-Steagall Act.

  • BHA

    Jason: “I am a stock holder like 75% of the US population”

    Then you should want serious reform. As a ‘little guy’ you have no control over how these companies operate. Face it, if you aren’t Warren Buffett or Bill Gates, your vote of a puny few shares doesn’t even ripple the water. The board doesn’t even know you exist let alone listen to you.

    I lost a significant amount of money when a solid So. Cal bank whose stock I owned crashed and burned. They had made ZERO sub-prime loans.

    I didn’t link the fact that they had a lot of loans out to reputable large construction companies to the sub-primes and financial future of the bank. When all the sub-primes went south and the bankruptcies started, these companies went down the toilet as well. Why buy new when you can get a 2 year old house for 1/2 the actual cost of building a new one?

    Had there been real regulation, none of the high risk sub-primes nor the derivatives built from them would have been ‘sold’. Would the construction companies been as busy in the mid 2000s? No, because there would not have been a building frenzy. But they would have been solid companies. The bank stock probably would not have been worth as much per share either but it would have been worth a lot more than zero.

  • Lew Dawidovicz Karnstein

    Most people take far more orders from their bosses every day than from the government in any given year.

    Sure, you can find another job, but you’ll just get another boss. You can go to work for yourself, but on average that will not work out well.

    It is in fact easier to change jobs than to change countries, and government always has the option of physical force’s backing them up, but in day-to-day reality you can’t change jobs or create a new business at will, and the threat of being turned out of your house by agents of the State for non-payment backs up private property’s power as well.

    I’m glad that Property’s Rodan has Government’s Godzilla to oppose it; we small mammals have to avoid their feet, but we’re clever that way, we’ve been doing it for millions of years.

  • just sayin

    Politicians have to spend millions of dollars to run for office. Those dollars come from lobbyists. Those lobbyists work for big corporations. Especially big corporations that own media outlets: cable, radio, newspapers.

    Figure out a way to change the above facts permanently or shut up about improving anything for anyone else except the corporations.

  • BHA

    Ellen: “it does say up top that it’s a rebroadcast, and note the sidebar up top. ”

    If it does (did?) it doesn’t any more. My browser window wasn’t open wide enough to see the sidebar. There was certainly nothing in the main content of the page saying it was not live.

    If they have been promoting it, I don’t recall hearing it. I presume it was only on WBUR, I listen to On Point through the Vermont Public Radio web site :)


  • mary kirkpatrick

    we need more Elizabeths in the USA, thank you – I appreciate you.

  • A.J.

    Jay (9:10 a.m.), Would you consider a stance that has more concern for others if you were to consider more seriously that a woman risked HER life to GIVE you yours? The philosophical/social/economic/political position that we are each responsible for ourselves alone is built on a complete falsehood: it takes contributions from two individuals (EVEN IF one gender’s contribution has been delivered thru a test tube!) to create any ONE of us. We have been dependent on others since our conception; and ethically we cannot pretend that fact has no relevance. We MUST be prepared to act on our Interconnectedness for our entire lives! We are ALSO inter-dependent on our Environment and owe it our partnering.


  • Steve V

    One issue missing was the responsibility of the voters. What can they do? Educate themselves and support their representatives in Congress who make the tough decisions. Since re-election is the prime goal of those in office, they need to feel they have the support of the public. The public may find EW refreshing and support her, but unless that translates into support for those in power she’s wasting her time. In the end every country gets the form of government it deserves.

  • Cathy

    Where is a link to listen to this? I want to hear what Elizabeth had to say.

  • Ann

    The show DID announce ahead of time that you could submit questions for the live broadcast. As I remember, they suggested questions could be submitted thru email or Facebook.

    I listen thru WRNI. We only have TWO shows our station purchases from WBUR. We ARE actually listening to our OWN NPR station, NOT to WBUR.

  • Ellen Dibble

    BHA, up top, in Ashbrook’s promo: “This Hour, On Point: we ask for Elizabeth Warren’s assessment of Washington’s Wall Street reform, in a special broadcast, recorded live before an audience.”
    Also: the photograph of the live event with Ashbrook and Warren.
    I was so disappointed. And it was not immediately obvious; you’re right. But “recorded live” reminded me, so I looked for the sidebar. “Recorded” in this instance means “prerecorded,” not “being recorded/broadcast live.”

  • Ellen Dibble

    Ann, Onpoint usually posts its shows so you can listen from the “Listen To Show” link up top to the middle left. Usually they say they’ll post it by 3:00 PM. Today they aren’t saying that. However, WBUR rebroadcasts OnPoint I think it’s from 6:00 to 8:00 PM, so you could go to WBUR on the internet and click Listen Live at 6:00 tonight. Or check out the times other stations across the country broadcast OnPoint, and catch one of those.

  • PW

    I wish Elizabeth Warren were president, too. But I wouldn’t want to hand over this mess to her without doing some work first. We need to deserve someone of Warren’s calibre. We have some work to do.

    Warren would need an intelligent Congress to work with. That’s our job. Steve @ 11:43 AM writes: “The public may find EW refreshing and support her, but unless that translates into support for those in power she’s wasting her time. In the end every country gets the form of government it deserves.”

    That means working a lot harder on getting good people elected. That probably means some of the intelligent people writing comments here should be running for office themselves!

    Whatever the solution, I think it starts with us, not with Elizabeth Warren. She’s such a great person I’d hate to see her swallowed up by a very corrupt system and opposition — something I believe we’re witnessing with Obama right now.

  • Brett

    The post-WWII boom was probably an anomaly. We took factories set up to produce goods for the military and retooled them to produce consumer goods, American goods for which there was not much competition in the world (as today).

    Those factories then paid many people middle-class wages for semi-skilled jobs. The G.I. Bill helped take the concept of home ownership that had previously been for the well-off only (usually 50% down to be paid off in less than ten years) and allowed people to purchase a home with little money down to be paid off over thirty years.

    Credit became part of everyday life so people could purchase homes, cars, furniture, and other trappings of a good life.

    The G.I. Bill also allowed people to go to college. Over the subsequent decade or two, people started accumulating more debt, housing development exploded, a new car every few years in every garage, competition for more goods, new convenience gizmos to keep the ride going, etc., all for a burgeoning middle class.

    We can’t look to that paradigm for the future; we must find a new paradigm. I believe in Greek tragedy: what made us strong after WWII also planted the seeds for our undoing. In the process of finding that new paradigm we must not get fooled by a paradigm shift that looks new but is still built on the same principles. We have too much cheap competition in the world today to play the faux capitalism game while expecting any long-term recovery. Jobs that produce goods simply will not return to America in the way we set ourselves up after WWII, yet we can not enjoy being the world’s super economic power sustaining ourselves on a service-oriented economy leveraged on debt.

    That said, I live off of the grid, so to speak, and run three private niche businesses built on service-oriented concepts. I also work part time for a government human service agency. I made enough money in real estate in the 1990′s and early 2,000′s to enable my lifestyle, but most Americans will not be able to live so creatively based on a bit of luck, skill and being in the right place at the right time.

    I’ve yet to hear any really good ideas, though, from anyone. Those who suggest more debt, new goods to manufacture, an economic recovery based on concepts of continued expansion and growth, etc., are simply looking at old paradigms subtly disguised as the new solution.

    Technology has always played a role in making America an economic power to be reckoned with (the Industrial revolution, for example), but isn’t there a law of diminishing returns that eventually plays a role? Especially in this age of globalization? The “technology will save us” view, as attractive as it is, and as much as it makes sense on the surface, only seems to work if the world is not connected the way it is and we have control over all aspects of whatever technological advancement ideas we come up with. This is too isolationist for these times. In a way, our boom after WWII was based on a kind of isolationist approach, i.e., our ideas, our factories, our production, our workers, and our consumers.

    When technology trends had a slower cycle, when “the next new thing” would come along at a slower clip, we could sustain ourselves for a couple of generations. Now, with those trends shifting so rapidly, and with the economy structured so globally, our boom cycles will not get much of a foothold before the bust phases kick in.

  • Ellen Dibble

    For one thing, Brett, we apparently don’t have to shift in one great wave to post-corporate/post-oil/ post-isolation into local economies, regenerative energy sources, and global supply chains. Apparently the old ways are pretty sticky, but they are counterproductive as they stick. There is a cost to every day we try to milk the old ways.
    I don’t think you are so exceptional in gluing together your independence, founded on enough of a nest-egg to provide a modicum of security. I think it doesn’t take a degree in management to find a niche in your corner of reality and plan not to conquer the world and blast right out of your little parochial reality into the bigtime. I think we re-shape capitalism on a smaller scale, one person at a time. I see it locally in farmer’s markets. The city has bought great swaths of farmland for itself, costly right now but a pretty good hedge against a future where shipping food around the world might seem unwise. I see it in plenty of local uses of the old fairground which used to host exclusively the annual farmers fair — and horse racing, I think. It is being expanded to be a year-round facility to show-case the kind of enterprises that will keep us afloat in a world where affluence will be less outlandish. For now there are crafts fairs, with people twice a year from all over. At first sales would be useless things, stylish but decorative. Then we evolve into useful things we would rather buy from one another than from Walmart. That’s my vision of the future.
    Well, I too found a niche and started doing something nobody else does, not this way, and which consequently is pretty threatening to the status quo. If I were younger and healthier I would maneuver differently, but it seems to me the challenges and opportunities are not the exception at all. I was lucky that banks were willing to bet on me when they apparently had no standards at all. It left my 401K intact. But banks may have to play the rich uncle to a lot of enterprises that seem upstart. I don’t think the rate of failure of startups needs to be as egregious as commonly thought. I think expectations need to be more realistic on all sides. I think management consultants tell people to Think Big, and to Exaggerate Your Position. And thus you can rent posh quarters and buy costly equipment. Consultants don’t tell you to be very cautious, all that. Lawyers and consultants who might help are too costly for the upstart. So they don’t help unless the plan is really outsize. The American idea of success is grandiose (still).

  • Brett

    I didn’t mean to suggest I am exceptional, it’s just that my solution has worked for me, and I don’t wish to suggest it will work for others.

  • Brett

    I do agree with your sense of “paradigm shift” though, Ellen. The “models” you suggest seem to be based on a kind of recycling, as well as cooperative collaborations, these are concepts outside of the paradigm I was condemning, so I think you are on to something. My fear is that while in my community we look so much to a fundamentally different paradigm, yet I don’t see this happening in so many other communities.

  • Matt

    Man, she was good! I want to hear more from this amazing lady, I hope she stays in a high profile status for a while. Too bad she wont run for office.

  • Brett

    Ellen, It’s like what you were saying about art in another thread a few weeks ago, how some communities truly embrace making art an integral part of their structure, but some communities don’t put their heart into the concept. Those unfortunate communities may put on an occasional concert or host an art exhibit here and there, but they haven’t approached the concept holistically.

  • Ryno

    Elizabeth Warren owns.

  • Ellen Dibble

    Brett, I recall the thread. It was about poetry, Armantraud or something, and I launched about poetry’s lack of relevance. Our current poet laureate (a new one each year or so) is a performer, a master of arts in theater, currently on tour, I believe, and she returns to a city with poetry slams on public access TV as a staple, like potatoes for dinner. I don’t see the connection of poetry slams to the life of my feelings and mind, but I see the connection of local farmers and new trades/crafts located on Saturday mornings out of various garages, which we do indeed embrace, if lots of publicity — via the library, the newspaper, etc. — counts. We’ll see how poetry gets itself on the map.
    I would note that the city’s economy and arts seem fostered by old media more than the Internet, but then I’m old-fashioned. Websites play their part, but if you googled yoga/therapy/dance/PTSD and the name of this city or trauma/dance/healers-united-seminars you would have to look hard to zero-in on those two individuals. Local “networks” get the word out faster. (Just to link back to How Does the Wired World Affect My brain? On this level, I e-mailed back and forth to someone, I called and spoke to her, bought her book; I saw the person walking down the street, not that she knew me; still haven’t exactly made a connection I feel would be fruitful, and it may never happen; we both are too busy.)

  • cory

    Brett from 1244pm,

    Dead on. Now the American people must decide what they want their country to look like, and undertake the titanic task of bending the government and the private economy to fit this mold. Can we do it. or will “they” do us?

    Build more, buy more, borrow more. Dominate markets around the world and interfere globally to manipulate things to our advantage. Grow or die. This has been the paradigm. China, India, and eventually Africa insure that this way will no longer work. We can’t outgrow or outproduce 3 billion or so hungry and motivated people.

    So what now?

  • Martyn Strong

    We need to regulate the capital markets not the banks. With the right regulation of the capital markets the banks will move themselves to the web where they belong. The following to one way to regulate the capital markets and keep from having any more bubbles:

    Capital markets are unstable. In the past there was no way to make them stable. But today we have computer power that can be used to make them stable.

    By using the greater computer power of today we can have a much higher turn over of capital in the capital market. This higher turnover will make the market harder to game or control and the market will no longer have the unstable run ups or declines. Who can change or control the market when say 20% of the capital is trading each day?

    So now that we have the compute power to provide for all these transactions that will smooth out the market how do we force people to turn over at a rate of 20% a day? Easy, put a cap gains tax of 0% (zero) on all gains of 7 days or less and put a cap gains tax of 90% of all gains of more than 7 days.

    The likes of Yahoo, Micosoft and/or Sun Micro Systems will give us the systems that will provide automated software agents to support turning over one’s investments every 7 days (based on the specs you give the agent).

    A system like this will make the financial markets work as smoothly as the local fruit market.

  • david

    Regulation is like the jockey on a race horse. To little, the horse burns out and loses the race. To much, you break his spirit and he loses the race. Just the right amount, everybody wins. I hope we are not headed for too much.
    While we fuss over the need for regulation on financial institutions, look what appears in the bill!!!!!
    Financial reform bill: The bill, if it becomes law, will create the Bureau of Consumer Financial Protection and empower it to “gather information and activities of persons operating in consumer financial markets,” including the names and addresses of account holders, ATM and other transaction records, and the amount of money kept in each customer’s account.
    The new bureaucracy is then allowed to “use the data on branches and [individual and personal] deposit accounts … for any purpose” and may keep all records on file for at least three years and these can be made publicly available upon request.
    Is this regulation gone too far????

  • Valerie

    Elizabeth Warren in 2016!!!

  • http://www.election08welose.com David Zapen

    She’s a hero, but is not seeing he big picture.
    Just as Truman and Eisenhower paid off WWII and the Cold War with 90% marginal income taxes, so will we have to target multi-millionaires again and end these speculative bubbles that create the demands for derivatives now or Dutch tulip bubbles in the 1700′s.

  • jen

    I wish she could call my in-laws. We had to get financial assistance from them recently to pay off high balance credit cards, and it felt like they believed that we had squandered our money away, when, in fact, its the economy and the state of it that has transpired over the last 30 years that got us in this situation. Yes, its completely our fault and we take responsibility for relying too heavily on the cards, but I feel like we have just always, always stuggled to stay afloat. We have no fur coats, boats, lavish vacations to show for the debt. Its all grocieries, gas, basic clothing, medical, etc.
    I question if they understand how different our personal household finances and the complication of it differ from what they dealt with 50 years ago. Todays family’s financial situation is completely different than what our parents had and I love the way she can break it down in only a few minutes. It makes you go “ahh, that’s why we are struggling”. I love her. She truly can explain it all so well.

  • Bush’s fault

    I thought Ms Warren sounded a bit scatterbrained…like someone who pulled an all nighter for a big exam…to many big ideas and big concepts to explain herself convincingly…I heard too many big swallows and deep breathing to convince me she has an effective or useful grasp of the matter. It was more like a concert than an interview.

    Maybe we have to accept that the American middle class of the 20th century was an anomaly that exhausted it’s life span…has anything similar ever occurred in history? After all, wasn’t our prosperity rooted in the exploitation of oil and other resources from other , mainly third world countries? And I don’t think India and China will ever have what we did; there simply isn’t the market, the time or resources, especially with their major consumer going broke.

  • cory

    Bush’s Fault,

    Bravo! Encore, Encore!

  • bereal

    Really, blame Bush? I get so tired of it. Its the administration under Bush that is responsible. The man himself is not resposible for a downturned economy. Its as bad as the “impeach Barack” bumper stickers. People just want to blame a singular person, rather than the real problem – government as a whole.

  • wayne

    If is wasnt for pepole like Mrs,warren,no one would ever care about the middle class.Pepole complain all the time about the problems of this country,but yet they wont band together to get anything done.I wish I could speak to the pepole like she does.You go girl….

  • cory


    I was applauding a comment by a poster named “bush’s fault”. See above… Oops!

  • Brett

    No, Ellen, I wasn’t speaking about the main topic (poetry) from that other thread, just one little comment you made (who knows, I could have made it, I could have dreamed it, you could have alluded to something that prompted me to think of it; I can’t remember) about different communities and how they treat art. Today, I was comparing that to how different communities view economic/entrepreneurial thinking that isn’t corporate-driven.

    In my community, people barter with each other for goods and services, develop partnerships in business, and there are a lot of small, diverse businesses. People are very creative in how they make money, and among the citizenry, here, there is a palpable desire to show patronage to independent entrepreneurial endeavors and to say no to corporate encroachment. Because of that spirit my community hasn’t suffered as much during lean times, and the local economy stays strong. Sure, we have our big box stores, but there is such strength in the business diversity, those big boxes don’t cobble up everything.

    Similarly, the way a community views the need for diversity in art as part of its inherent structure, this promotes the idea in a holistic way rather then putting on a few predictable art/cultural activities for leisure time on the occasional weekend.

    In my parents community, a community I am becoming familiar with due to visiting them very frequently (they are very ill), there is no such economic spirit. In fact the community has sold itself out for short-term gains and convenience. Because of the sell out, their community has nose dived in this economic downturn.

    There are three Wal*Marts within four miles of each other, and those stores squashed the local ma and pa hardware stores, clothing stores, electronics stores, grocery stores, etc. There is nothing left but Wal*Mart. A corporate convenience store chain moved in soon after, which operates on the same business model as Wal*Mart (having low prices–little profit in each item sold, especially in the early stages of its presence designed to rid the community of all competition, having profits made by volume, having inferior-quality goods for lowest-common- denominator consumption, etc.) The corporation has put a store on every corner, sometimes two across the street from each other. Corporate chain restaurants moved in soon after that and drove out many wonderful, local ma and pa owned restaurants. Fast food chains followed, driving diner-type establishments and sub shops out of business…the list goes on. Jobs are now few and far between for locals (unemployment is close to 20% in their area) and are essentially minimum wage jobs. (In a way, their community is a microcosm of how America’s economic model has failed.)

    When someone does attempt to start a business in their area, because there is such a small slice of the pie, people try to cut corners thinking they can throw quality and integrity out the window because they believe it is too costly to operate with those principles. Small businesses fight each other, develop unhealthy rivalries and end up cutting each others’ noses off to spite each others’ faces.

    Suffice it to say their community also puts no stock in art.

    I’d say my comparison of local economies to how a community treats its art isn’t at all remote, and it has nothing to do with poetry! ;-) Sounds as though your community embraces an interesting economic paradigm in some ways, as does mine, but there are so many communities not the least bit interested in business diversity or interesting ways of doing business; and, in as much as I am very much for farmers markets, goods made by local craftsman, services provided in exchange for other services (partnerships and bartering), I don’t see there is a ground swell, at least not enough to generate energy that extends outside little artist enclaves like my homestead, or in urban areas that are culturally diverse where people are savvy to how corporate encroachment can kill a city, town, or community, like possibly your area. Nor do I see there being enough strength in patronage from citizenry to choke off large corporate entities like Wal*Mart, TGI Fridays, etc. If small changes do take root, corporate America will find some way to snuff them out.

    When I lived in North Carolina a Wal*Mart wanted to move in to the community, but there was so much opposition they turned tail and ran. Some communities don’t have that kind of unity.

    For their part, aforementioned tactics notwithstanding, corporations have also sold themselves out for short-term gains. They no longer invest in research and development, and they seem to project only into the next quarter at most. In my parents’ community, some of the big boxes have closed because they’ve competed with themselves too much in an effort to expand (of course, now, after they have successfully destroyed the local economy); there are cavernous cinderblock buildings lying in ruin strewn across the landscape. Most corporate models these days are based on constant expansion and growth, and that expansion and growth is often at the expense of stability, quality, the building of strong communities and the economies surrounding them, and so on…

    I suppose we will discuss old-fashioned advertising vs. Internet advertising–or whatever your sidebar was getting to in your last comment–in some other thread; I look forward to that…

  • Brett

    “So what now?” -Cory

    I wish I knew, my fellow commenting friend. Better minds than mine will have to prevail! ;-) I see America’s future as being a strong balance between capitalism and socialism; where that balance lies…? Also, in as much as I rarely agree with our fellow commenter, david (and his comment from 6:11pm tonight being no exception–too much of his usual variation on “end times” prophecy, that sort of thing ;-)), he did express one general sentiment questioning where the demarcation line should be in terms of regulation. I question that, too. I don’t know, however. I do sense that whatever regulatory oversight is implemented toward corporate entities, it needs to have teeth.

  • Brett

    I see large corporations as being able to handle strict regulatory oversight without losing too much in the way of profits. Small businesses seem more affected in ways they can not transcend. Yet it’s the large corporations that have the resources to circumvent regulatory oversight…

  • Ellen Dibble

    Yes, if the Obama could only take a good look at communities that fought hard to keep big boxes out and kept the diversity. Small business (VERY small business) doesn’t make a big splash on the Dow Jones or anybody’s quarterly reports, on anybody’s pension tally, and it evolves as much through interpersonal channels (barter, word-of-mouth…) as anything banks or governments do.
    Interesting post of yours by the way on the Tipper/Al divorce blog — you referred to the town where your parents reside and its various miscalculations or errors. I was thinking, well, Brett opened the topic, on cross-examination, so to speak, on that thread of any love as a permanent fixture of self — like a particular crease on the side of the hand — so I’ll post about multiple loves in old age; Nah, not now, I decided.

  • Tom Cantlon

    The shafting of the working people by the high finance gamblers is something the tea partiers and the moveon.org folk should all wake up and work on together.

  • Pat D.

    ELIZABETH WARREN for President. When did the U.S. lose its SOUL?

  • Mitch Staunton

    I’ve listened to her points.

    Create a framework where banks are required to take personal responsibilty for the risk they take.

    Implement a national health care system that relies on private companies to provide service in the marketplace and eliviates employers from providing healthcare, thereby freeing employees to migrate to industries where their skills are most needed (as oposed to “sticking with the company because of the benefits).

    Close Government to lobbists, and allow legislators to legislate.

    Personal responsibility. Free flow of labor. Free market competition.

    Yeah, sounds like a Big Government pinko commie to me. Where’s Hoover when you need him?

  • QR

    Elizabeth Warren for President times 10! We need more high integrity minded politicians, with the values of our founding fathers, who stay focused on doing what is right (not necessarily comfortable ) for the average citizen – real everyday working people. This country is not only on a “road to serfdom” but also it is on the road to where small investors cannot save and invest their own money in an honest and open marketplace. The DOW and NYSE are jokes – driven by automatic algorithmic trading. Since when is it a fair and open market place when humans investing on fundamentals are pitted against auto-trading, statistically gambling super computers? Also 401k plans are a joke. Why is MY money being held hostage? THe “stable fund “, my company’s closest fund offering to cash, is 75% invested in OF ALL THINGS financials and mortgage backed securities…. Ummm. That’s really *stable*…
    I can’t even put my money in dollars for heavens sake. I’m tempted to quit my job just so I can get my money out. Then I could skip paying my mortgage, and live for free on medicare and unemployment. Elizabeth Warren please help us all.

  • Ann

    Another issue I have an intuition about, but that I never hear discussed: The de-regulated financial marketplace took hold just short of ONE generation after the Civil Rights and Voting Rights Acts. It took this nation almost two hundred years to make things equitable for African Americans, at least in Civil Rights law, if not in practice and execution of the law. I believe that once these acts were finally put into place, that powerful, greedy folks realized that their most ensured route to wealth — the exploitation of a whole race of people who were left powerless & disenfranchised thanks to laws, court biases & societal bigotry — was about to expire. Hence, NAFTA; elimination of usury laws; lots of financial “product” creation; and globalism (which was itself couched in hypocritical, because really self-interested, “concerned” language for the poor worldwide). Many people call this period of more and more financial “products” a time of great creativity. I call it a time of great scrambling and scamming to make up for the easy ride that American bigotry and exploitation had provided for centuries!


  • Skip Nichols

    Elizabeth Warren is my true American hero — from a Marine Veteran who served honorably in Vietnam and wants the best for his wife, children and grandchildren.

  • jeffe

    I’ve listened to her points.

    Create a framework where banks are required to take personal responsibility for the risk they take.

    Implement a national health care system that relies on private companies to provide service in the marketplace and alleviates employers from providing health care, thereby freeing employees to migrate to industries where their skills are most needed (as opposed to “sticking with the company because of the benefits).

    Close Government to lobbyists, and allow legislators to legislate.

    Personal responsibility. Free flow of labor. Free market competition.

    Yeah, sounds like a Big Government pinko commie to me. Where’s Hoover when you need him?
    Posted by Mitch Staunton, on June 8th, 2010 at 11:40 PM

    Mitch, I am hoping that you are being satirical here.
    Sorry, I corrected some of the spelling.

    Either way this sounds like a very good model for growth to me.

    Bring back usury laws.
    Update and bring back the Glass-Steagall Act.

    It seems to me that industry, wall street, and the large banks cannot regulate nor police themselves. We have enough proof of this it seems to me. Going back to the status quo or business as usual is not going to work.

  • Alex

    “any time a government steals money from one persons pocket, tax, and gives it to another person in the form of healthcare…. viola … you have a right! You can’t possibly think this is OK !”

    This form of “stealing” is called taxation. It is written into the U.S. constitution, as is the power to spend on General Welfare. Universal healthcare is meant to advance the General Welfare of the Nation.

  • http://www.beccar.wordpress.com Eugenia Renskoff

    Hello, Tom, I think that only when we the people who got scammed and duped by the subprime lending mess get our money back will justice be served. Justice must be served no matter how naïve that may sound. Money was taken from us under false pretenses and that is not right and/or fair. This could happen with or without a lawsuit. Elizabeth Warren is someone I admire very much because she is on the consumer’s side. Nobody should have to go through predatory lending, mortgage fraud and foreclosure. Eugenia Renskoff

  • mark

    Elizabeth Warren for president? Definitely!!!!!! We need more people like her!!! Corrupt capitalism has to be destroyed or many many more of us will find ourselves living under a bridge some day!

  • David

    I think she meant 20 yards to go to be in the endzone, not 80 yards to go. Let’s hope.

  • http://FlusterCucked.blogspot.com Frank the Underemployed Professional

    I hope she runs for president too. I wonder if she has ever had any death threats or if the powers-that-be have considered having her knocked off.

  • Matthew Simpson

    I salute Ms. Warren’s struggle on behalf of the American middle class, but without a strong economic base, the middle class will keep suffering. Until we can restore jobs such as those that were shipped overseas, advocates for the middle class will be championing a cause without a material base.

  • David

    I applaud Ms. warren for being able to see this issue clearly while she is trying to help to bring about much needed change to our financial system! Wall Street and corporate america through it’s lobbyists are now the puppet masters for our country. While everyone has been distracted by all the talk of “socialism” in our country, corporate fascism has crept in, and in the end will make all working people slaves to it’s aggenda’s.

    Also, I have a question for the forum, how can I download a MP3 of this broadcast? any advice is welcome.

  • Peter

    As a recent article in The Nation Magazine points out, CABLE NEWS NETWORKS are as guilty as congress of letting corporate lobbyists shape the product. Guests and even hosts often air their viewpoints on news and opinion shows with no disclosure of the fact that they have financial ties to firms that represent industry interests. Networks have disclosure policies, but may call someone a “financial analyst” without saying that his firm works for the banking industry. This is why the “conventional wisdom” of the Mainstream Media is so skewed.

  • http://checkwriter.net Checks By Phone

    Credit card marketing and use should also be changed. People who use cash or pay check by phone and the businesses that support non-credit card transactions help our economy to stay strong.

    Credit card companies also make around 1.5% to 5% on all transactions, sales, refunds and disputes, then they take fees and interest from cardholders on top of that.

  • http://cyberfumes.blogspot.com Dave Eger

    For those interested in this subject who haven’t heard of Zero Hedge, you might enjoy checking it out:

    Also I picked up a copy of The Great American Stickup, which I’m rather excited about.

  • Pingback: Elizabeth Warren Comes Home; Set To Run For Senate? | Radio Boston

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