Sen. Elizabeth Warren Renews Call for Delay of FEMA Flood Maps

Senator Elizabeth Warren spoke on the Senate floor on December 11, 2013, urging a delay in the implementation of new FEMA flood maps.

Elizabeth Warren Wants to Increase Social Security

Add Sen. Elizabeth Warren (D-MA) to the growing chorus of voicescalling for the expansion of Social Security benefits. The progressive favorite implored Democrats on the Senate floor Monday not to chain Social Security benefits to the rate of inflation or the rise in prices, which is known in shorthand as the Consumer Price Index. Warren said it's "simply not true" that these benefits must be chained to the CPI, as President Barack Obama has proposed, adding that "it's just a fancy way of saying 'cut benefits.'" Instead, she suggested that Social Security benefits should be raised to levels that account for the impact of inflation on seniors, which grows quickly under the Bureau of Labor Statistics' experimental CPI-E metric...".* The Young Turks host Cenk Uygur breaks it down.

Elizabeth Warren 2016 ~ Wall Street's Worst Nightmare

"There are three words that strike terror in the hearts of Wall Street bankers and corporate executives across the land: President Elizabeth Warren. Anxiety over Warren grew Monday after a magazine report suggested the bank-bashing Democratic senator from Massachusetts could mount a presidential bid in 2016 and not necessarily defer to Hillary Clinton — who is viewed as far more business friendly — for the party's nomination." Cenk Uygur, host of The Young Turks discusses a Presidential bid by Senator Elizabeth Warren.

Elizabeth Warren on the Consumer Financial Protection Bureau Director (2013)

The Act changes the existing regulatory structure, such as creating a host of new agencies (while merging and removing others) in an effort to streamline the regulatory process, increasing oversight of specific institutions regarded as a systemic risk, amending the Federal Reserve Act, promoting transparency, and additional changes. The Act purports to provide rigorous standards and supervision to protect the economy and American consumers, investors and businesses, purports to end taxpayer funded bailouts of financial institutions, claims to provide for an advanced warning system on the stability of the economy, creates rules on executive compensation and corporate governance, and eliminates some loopholes that led to the 2008 economic recession.[37]

Elizabeth Warren : Floor Speech on Mel Watt's Nomination to Head the FHFA

Senator Elizabeth Warren's floor speech on October 31, 2013, on Congressman Mel Watt's nomination to head the Federal Housing Finance Agency (FHFA)

How Does Monetary Policy Affect the U.S. Economy? Ben Bernanke & Elizabeth Warren (2013)

Monetary policy, to a great extent, is the management of expectations. Monetary policy rests on the relationship between the rates of interest in an economy, that is, the price at which money can be borrowed, and the total supply of money. Monetary policy uses a variety of tools to control one or both of these, to influence outcomes like economic growth, inflation, exchange rates with other currencies and unemployment. Where currency is under a monopoly of issuance, or where there is a regulated system of issuing currency through banks which are tied to a central bank, the monetary authority has the ability to alter the money supply and thus influence the interest rate (to achieve policy goals). The beginning of monetary policy as such comes from the late 19th century, where it was used to maintain the gold standard.

A policy is referred to as contractionary if it reduces the size of the money supply or increases it only slowly, or if it raises the interest rate. An expansionary policy increases the size of the money supply more rapidly, or decreases the interest rate. Furthermore, monetary policies are described as follows: accommodative, if the interest rate set by the central monetary authority is intended to create economic growth; neutral, if it is intended neither to create growth nor combat inflation; or tight if intended to reduce inflation.
There are several monetary policy tools available to achieve these ends: increasing interest rates by fiat; reducing the monetary base; and increasing reserve requirements. All have the effect of contracting the money supply; and, if reversed, expand the money supply. Since the 1970s, monetary policy has generally been formed separately from fiscal policy. Even prior to the 1970s, the Bretton Woods system still ensured that most nations would form the two policies separately.

Within almost all modern nations, special institutions (such as the Federal Reserve System in the United States, the Bank of England, the European Central Bank, the People's Bank of China, the Reserve Bank of New Zealand, and the Bank of Japan) exist which have the task of executing the monetary policy and often independently of the executive. In general, these institutions are called central banks and often have other responsibilities such as supervising the smooth operation of the financial system.
The primary tool of monetary policy is open market operations. This entails managing the quantity of money in circulation through the buying and selling of various financial instruments, such as treasury bills, company bonds, or foreign currencies. All of these purchases or sales result in more or less base currency entering or leaving market circulation.
Usually, the short term goal of open market operations is to achieve a specific short term interest rate target. In other instances, monetary policy might instead entail the targeting of a specific exchange rate relative to some foreign currency or else relative to gold. For example, in the case of the USA the Federal Reserve targets the federal funds rate, the rate at which member banks lend to one another overnight; however, the monetary policy of China is to target the exchange rate between the Chinese renminbi and a basket of foreign currencies.
The other primary means of conducting monetary policy include: (i) Discount window lending (lender of last resort); (ii) Fractional deposit lending (changes in the reserve requirement); (iii) Moral suasion (cajoling certain market players to achieve specified outcomes); (iv) "Open Mouth Operations" (talking monetary policy with the market).

http://en.wikipedia.org/wiki/Monetary...

Elizabeth Warren (2013) : Too Big To Fail & Financial Regulations Law Implementation

The "too big to fail" theory asserts that certain financial institutions are so large and so interconnected that their failure would be disastrous to the economy, and they therefore must be supported by government when they face difficulty. The colloquial term "too big to fail" was popularized by U.S. Congressman Stewart McKinney in a 1984 Congressional hearing, discussing the Federal Deposit Insurance Corporation's intervention with Continental Illinois.[1] The term had previously been used occasionally in the press.[2]
Proponents of this theory believe that some institutions are so important that they should become recipients of beneficial financial and economic policies from governments or central banks.[3] Some economists such as Paul Krugman hold that economies of scale in banks and in other businesses are worth preserving, so long as they are well regulated in proportion to their economic clout, and therefore that "too big to fail" status can be acceptable. The global economic system must also deal with sovereign states being too big to fail.[4][5][6][7]
Opponents believe that one of the problems that arises is moral hazard whereby a company that benefits from these protective policies will seek to profit by it, deliberately taking positions (see Asset allocation) that are high-risk high-return, as they are able to leverage these risks based on the policy preference they receive.[8] The term has emerged as prominent in public discourse since the 2007--2010 global financial crisis.[9] Critics see the policy as counterproductive and that large banks or other institutions should be left to fail if their risk management is not effective.[10][11] Some critics, such as Alan Greenspan, believe that such large organisations should be deliberately broken up: "If they're too big to fail, they're too big".[12] More than fifty prominent economists, financial experts, bankers, finance industry groups, and banks themselves have called for breaking up large banks into smaller institutions.[13]
One of the most vocal opponents in the United States government of the "too big to fail" status of large American financial institutions in recent years has been the newly elected U.S. Senator from Massachusetts, Elizabeth Warren. At her first U.S. Senate Banking Committee hearing on February 14, 2013, Senator Warren pressed several banking regulators to answer when they had last taken a Wall Street bank to trial and stated, "I'm really concerned that 'too big to fail' has become 'too big for trial.'" Videos of Warren's questioning, centering on "too big to fail", became popular on the internet, amassing more than 1 million views in a matter of days.[14]
On March 6, 2013, United States Attorney General Eric Holder told the Senate Judiciary Committee that the Justice Department faces difficulty charging large banks with crimes because of the risk to the economy.[15] Four days later, Federal Reserve Bank of Dallas President Richard W. Fisher wrote in advance of a speech to the Conservative Political Action Conference that large banks should be broken up into smaller banks, and both Federal Deposit Insurance and Federal Reserve discount window access should end for large banks.[16] Other conservatives including Thomas Hoenig, Ed Prescott, Glenn Hubbard, and David Vitter also advocated breaking up the largest banks.[17][18]
On April 10, 2013, International Monetary Fund Managing Director Christine Lagarde told the Economic Club of New York "too big to fail" banks had become "more dangerous than ever" and needed to be controlled with "comprehensive and clear regulation [and] more intensive and intrusive supervision."

http://en.wikipedia.org/wiki/Too_big_...

Elizabeth Warren ~ What Will My Retirement Savings Be Worth? Economics & Finance (2013)

A retirement savings account is a type of retirement plan account that is envisioned to replace all three different types of individual retirement accounts that are currently used in the United States: traditional IRA, Roth IRA and Simple IRA. Contributions would be made on an after-tax basis. This is a major part of what the George W. Bush Administration called "ownership society."

http://en.wikipedia.org/wiki/Retireme...

Ownership society is a slogan for a model of society promoted by former United States President George W. Bush. It takes as lead values personal responsibility, economic liberty, and the owning of property. The ownership society discussed by Bush also extends to certain proposals of specific models of health care and social security.

As formulated by the Cato Institute (see original quote and external link below), the goals are that
patients have control of [decisions on] their personal health care,
parents control [i.e. have power over] their children's education, and
workers control [i.e. have some responsibility for the investment of, or explicit property rights in] their retirement savings.
Here the comments in brackets are an interpretation or paraphrase, consistent with a generalised idea of ownership. The conceptual link here is by means of the idea that private property, the most familiar and everyday form of ownership, is being extended. Control is closely associated with ownership in that sense.
This Cato Institute formulation is not, however, in terms of positive policies. It is more accurately a definition of ownership by taking the state out of the loop. So, for example, in health care ownership is not being defined just on the basis of informed consent.
There is no real originality, politically speaking, in the connection made between individual ownership of property and political stake-holding. This was an idea discussed in Europe and America in the eighteenth century. (For example that the franchise should only be for property holders.)
The novelty of the Cato Institute formulation would lie in the extrapolation. In the case of savings, for example, the extension would be an assertion of property rights in money held in savings or collected tax revenues.
The first desiderata was part of John McCain's campaign platform as the 2008 Republican presidential nominee. McCain's website says, "John McCain believes [that] the key to health care reform is to restore control to the patients themselves."

Consistently with the basic tenet, proponents of an ownership society usually support inherited wealth, and oppose inheritance taxes and wealth taxes. They are also likely to favour a pattern of property ownership based on the purchase, rather than rental, of accommodation.
The consequences for health and education are heavily dependent on details of implementation. For example, ownership in one's child's education, for a parent, might be in the form of an education voucher, a vote in the running of a school, influence on the school curriculum, or a generalised 'right' to have a child educated in line with one's own values.
One example from the UK of an unexpected or unintended consequence of government policy favouring direct share ownership, through some oversubscribed privatisation issues, was the holding of small parcels of shares by individuals numbered in millions. This broad-based ownership created an administrative overhead, for example in relation to every shareholder vote.

http://en.wikipedia.org/wiki/Ownershi...

Elizabeth Warren ~ Banking Hearing on the Debt Ceiling

Banking Hearing on the Debt Ceiling

Senator Elizabeth Warren's Q&A at an October 10, 2013 Banking Committee hearing on "Impact of a Default on Financial Stability and Economic Growth."

The witnesses are : The Honorable Frank Keating, President and Chief Executive Officer, American Bankers Association; The Honorable Kenneth E. Bentsen, Jr., President, Securities Industry and Financial Markets Association; Mr. Gary Thomas, President, National Association of Realtors; and Mr. Paul Schott Stevens, President and Chief Executive Officer, Investment Company Institute. Additional witnesses may be announced at a later date.

Elizabeth Warren ~ Speech on the Debt Ceiling

Senator Warren's speech about the debt ceiling on the Senate floor on October 9, 2013.

Elizabeth Warren ~ The Next President Of The United States?

The Next President Of The United States?

"Sen. Elizabeth Warren (D-Mass.) insisted in a recent interview with The New York Times that she does not plan to seek the presidency." Cenk Uygur  of The Young Turks discusses the importance of the recent discussion about Senator Elizabeth Warren. Would you support a bid for President by Senator Elizabeth Warren, tell us what you think in the comment section below.

Sen.Elizabeth Warren on the Shutdown and Why Government Matters - Full Speech

Full Speech - Sen. Warren on the Shutdown and Why Government Matters .Senator Elizabeth Warren spoke on the Senate floor on October 3, 2013 about the consequences of the Republican shutdown and why government matters.

ELIZABETH WARREN ~ Congressional TARP Oversight Panel: Finance, Loans

The primary purpose of TARP, according to the Federal Reserve, was to stabilize the financial sector by purchasing illiquid assets from banks and other financial institutions. However, the effects of the TARP have been widely debated in large part because the purpose of the fund is not widely understood. A review of investor presentations and conference calls by executives of some two dozen US-based banks by The New York Times found that "few [banks] cited lending as a priority. Further, an overwhelming majority saw the program as a no-strings-attached windfall that could be used to pay down debt, acquire other businesses or invest for the future." The article cited several bank chairmen as stating that they viewed the money as available for strategic acquisitions in the future rather than to increase lending to the private sector, whose ability to pay back the loans was suspect. PlainsCapital chairman Alan B. White saw the Bush administration's cash infusion as a "opportunity capital", noting, "They didn't tell me I had to do anything particular with it."

Moreover, while TARP funds have been provided to bank holding companies, those holding companies have only used a fraction of such funds to recapitalize their bank subsidiaries.[67]

Many analysts speculated TARP funds could be used by stronger banks to buy weaker ones.[68] On October 24, 2008, PNC Financial Services received $7.7 billion in TARP funds, then only hours later agreed to buy National City Corp. for $5.58 billion, an amount that was considered a bargain.[69] Despite ongoing speculation that more TARP funds could be used by large-but-weak banks to gobble up small banks, as of October 2009, no further such takeover had occurred.

The Senate Congressional Oversight Panel created to oversee the TARP concluded on January 9, 2009: "In particular, the Panel sees no evidence that the U.S. Treasury has used TARP funds to support the housing market by avoiding preventable foreclosures". The panel also concluded that "Although half the money has not yet been received by the banks, hundreds of billions of dollars have been injected into the marketplace with no demonstrable effects on lending."[70]

Government officials overseeing the bailout have acknowledged difficulties in tracking the money and in measuring the bailout's effectiveness.[71]

During 2008, companies that received $295 billion in bailout money had spent $114 million on lobbying and campaign contributions.[72] Banks that received bailout money had compensated their top executives nearly $1.6 billion in 2007, including salaries, cash bonuses, stock options, and benefits including personal use of company jets and chauffeurs, home security, country club memberships, and professional money management.[73] The Obama administration has promised to set a $500,000 cap on executive pay at companies that receive bailout money,[74] directing banks to tie risk taken to workers' reward by paying anything further in deferred stock.[75] Graef Crystal, a former compensation consultant and author of "The Crystal Report on Executive Compensation," claimed that the limits on executive pay were "a joke" and that "they're just allowing companies to defer compensation."[76]

In November 2011, a report showed that the sum of the government's guarantees increased to $7.77 trillion; however, loans to banks were only a small fraction of that amount.[77]

One study found that the typical non-minority owned bank was about ten times more likely to receive TARP money in the CDCI program than a black owned bank after controlling for other factors.

http://en.wikipedia.org/wiki/TARP#Sim...

Senator Elizabeth Warren Admitts "Summers" Not My First Choice - Morning Joe

 From nbc.com. Sept 16, 2013. MSNBC Morning Joe Interview. Senator Elizabeth Warren.





The real debt of the US is not only the IOU it puts out but the printing of the trillion of dollars which the US government used to finance itself (over and above the value of the US economy!) under the guise of "quantitative easing" and which is held as reserve by countries like China, Japan, Russia EU etc etc etc. What will be the value of that US Dollar if they decide it is not worth the paper it is printed on and try to get rid of it or downgrade it! In 1967 when the US was promising 1 oz of gold at $38, countries with very large reserves of US Dollars approached the US for an exchange - Lyndon Baines Johnson "devalued" the US Dollar overnight by refusing to honour that promise. Overnight 1 oz of gold shot up to $100! What would happen to the value all those investments in the US, including the shares of those so called conglomerates? Will they double overnight? And what would happen to the Dollar in your pocket when it comes to buy goods with it?

Sen. Elizabeth Warren Labor Day Message

Senator Elizabeth Warren





Elizabeth Warren Born in Oklahoma City in 1949, Elizabeth Warren became the first member of her family to graduate from college, eventually earning her law degree from Rutgers University. After working as a law professor at Harvard University, Warren was selected to lead the National Bankruptcy Review Commission. In 2008, she headed the Congressional Oversight Panel for the Troubled Asset Relief Program. Four years later, in November 2012, Warren won election to the U.S. Senate, By 1978, she had divorced her first husband. In the year after the split, Warren began exploring the economic pressures facing the American middle class, looking specifically at a 1978 law passed by Congress that made it easier for companies and individuals to declare bankruptcy. Warren decided to investigate the reasons why Americans were ending up in bankruptcy court, and discovered that most of the financial victims were from middle-class families who had lost jobs, experienced financial hardship from a divorce, or suffered illnesses that decimated their savings. From then on, Warren would focus her research on bankruptcy and commercial law—specifically on how it affected financially distressed companies and women, the elderly and the working poor. Warren married Harvard law professor Bruce Mann in 1980. She and Mann then moved together around the country, with Warren teaching at the University of Texas, the University of Michigan, and the University of Pennsylvania.

Elizabeth Warren ~ Strategy for Financial Markets: TARP Oversight

Strategy for Financial Markets: TARP Oversight - Elizabeth Warren (2009)



Warren opposed the 2010 U.S. Supreme Court Citizens United v. Federal Election Commission and supports the DISCLOSE Act which would limit the 2010 Supreme Court ruling.

Consumer Financial Protection Bureau

I'm figuring the bank holiday will come shortly after 9-11, mid to late September. Notice how the market keep right on trucking during the NASDAQ glitch , who do they think they are fooling? Every rumor affects the market, but not this glitch? I'll go with totally controlled " TEST RUN " to see how the people respond. Will the people try to make a run on the banks? I'm betting this was set up in Obama's meeting.

Elizabeth Warren ~ Banking Hearing on Wall Street Reforms

Senator Elizabeth Warren's Q&A at a July 30, 2013 Banking Committee Hearing on "Mitigating Systemic Risk in Financial Markets through Wall Street Reforms." Panelists include Mary Jo White, Chair, Securities and Exchange Commission and Gary Gensler, Chairman, Commodity Futures Trading Commission.

Elizabeth Warren at the Senate Banking Subcommittee Hearing - July 23, 2013

Senator Elizabeth Warren's Q&A at the July 23, 2013 Senate Banking Subcommittee Hearing on

Financial Institutions and Consumer Protection, titled "Examining Financial Holding Companies: Should Banks Control Power Plants, Warehouses, and Oil Refineries?" The witnesses included: Ms. Saule Omarova, Associate Professor of Law, University of North Carolina at Chapel Hill School of Law; Mr. Joshua Rosner, Managing Director, Graham Fisher & Company; Mr. Timothy Weiner, Global Risk Manager, Commodities/Metals, MillerCoors LLC; and Mr. Randall D. Guynn, Head of Financial Institutions Group, Davis Polk & Wardwell LLP.

Elizabeth Warren Q&A with Ben Bernanke - Banking Committee Hearing July 18, 2013

Senator Elizabeth Warren's Q&A with Federal Reserve Chairman Ben Bernanke at a July 18, 2013 Senate Banking Committee Hearing.

Elizabeth Warren: High-Stakes Gambling? Not With Our Savings

July 12 (Bloomberg) -- Sen. Elizabeth Warren discusses the origins of Glass-Steagall and her push to restore the law. She speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)


 On "In the Loop with Betty Liu," Betty Liu reports on breaking news headlines, Wall Street movers and shakers, global leaders, billionaires and interviews the most influential guests -- all as the opening bell rings the market into action. Betty Liu's robust team of Bloomberg TV reporters includes frequent appearances by Bloomberg market correspondents, among them: Dominic Chu, Julie Hyman, Alix Steel, Matt Miller and more.

In addition to covering leading company news, the show highlights industry competitions including Samsung vs Apple, Pepsi vs Coke, and Aereo vs News Corp, along with coverage of the business leaders involved such as PIMCO's Mohamed El-Erian, WPP founder Sir Martin Sorrell, AOL CEO Tim Armstrong, Apple CEO TimCook, Coca-Cola CEO Muhtar Kent, media mogul Rupert Murdoch, billionaire investor Warren Buffett and more. "In The Loop" broadcasts from Bloomberg TV's New York headquarters, at 8-10am ET/5-7am PT. For a complete compilation of In The Loop videos, visit: http://www.bloomberg.com/video/in-the...

Watch "In The Loop" on TV, on the Bloomberg smartphone app, on the Bloomberg TV + iPad app or on the web: http://bloomberg.com/tv

Bloomberg Television offers extensive coverage and analysis of international business news and stories of global importance. It is available in more than 310 million households worldwide and reaches the most affluent and influential viewers in terms of household income, asset value and education levels. With production hubs in London, New York and Hong Kong, the network provides 24-hour continuous coverage of the people, companies and ideas that move the markets.