2016 Postmortem
Related: About this forumTerrific article by Elizabeth Warren in today's WP
She makes things so crystal clear. She would be an awesome Senator.
http://www.washingtonpost.com/opinions/elizabeth-warren-libor-fraud-exposes-a-rotten-financial-system/2012/07/19/gJQAvDnDwW_story.html
Going forward, the rules would be changed so that Libor is calculated on actual borrowing costs, not estimated or claimed costs. And enforcement agencies would have the resources they need to launch investigations, to fight the armies of private lawyers the banks hire and to prosecute the law-breakers.
But the heart of accountability lies deeper. It rests on acknowledging that we cannot trust Wall Street to regulate itself not in New York, London or anywhere else. The club is corrupt. When Mitt Romney says he will move to repeal all of the new financial regulations, he supports a corrupt system. When members of Congress grill regulators for being too tough on Wall Street and slash the budgets of the regulators charged with overseeing Wall Street, they prop up a corrupt system.
NYC_SKP
(68,644 posts)Eric J in MN
(35,619 posts)snot
(10,520 posts)I donated to her, too.
Even if people don't start out corrupt, if you leave kids alone with a cookie jar long enough, sooner or later, someone's going to succumb to temptation. And then another one; and then another one; and then when even the best of the lot see that "everyone else is doing it," it becomes the norm.
Whisp
(24,096 posts)and I'll be cheering for her from up North.
precongratulations to all of you. it will be done. ;D
CTyankee
(63,901 posts)musiclawyer
(2,335 posts)I think she will win in Nov and the left will unite and demand her ascension.
Cory Booker and Harold Ford and the bought off center-timid types will object and be exposed once and for all as sabateurs. Sorry Rachel Maddow. Your friend is a self promotion pro but no friend of the 99%