Originally Posted by longhornfan1234
MSNBC praises this broad every day. I'm trying to understand the hype.
She is our best chance at fighting back against Wall Street.
It's mostly based on her help in creating the Consumer Financial Protection Bureau and her hardline rhetoric against the banks and Wall St. who collapsed the world economy, one of the few mainstream voices who still make a fuss about them.
Warren win has Wall Street worried
Executives at Wall Street's biggest banks likely haven't forgotten a suggestion Warren made in September 2011, when the newly created CFPB produced a seven-page report for the 50 state attorneys general investigating improper foreclosure procedures ... said banks dodged more than $20 billion in expenses between 2007 and 2010 by taking shortcuts in servicing troubled home loans.
The report was presented as the banks and the states were engaged in settlement talks, and there was speculation that the financial firms would cough up somewhere between $5 billion and $30 billion to put the issue behind them.
But Warren balked at the $5 billion figure, saying it "would seem too low"
considering that "rough estimates suggest the largest servicers may have saved more than $20 billion through under-investment in proper servicing during the crisis."
In the end, banks ended up settling for a whopping $25 billion.
Oh, and don't forget Warren's calls for a breakup of big banks by reinstating a modern version of the Glass-Steagall Act
, a Depression-era law that separated investment and commercial banks. That's not winning her any love from the big banks, either.
tl;dr - If the big banks hate her, every normal American should love her.