elizabeth warren politics

‘Take Immediate Action’ To Avoid ‘Another Crash’: Read Elizabeth Warren’s ‘Inflated Bond Ratings’ Letter

"Dear Chairman Clayton"...

"Dear Chairman Clayton"...
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11 comments on “‘Take Immediate Action’ To Avoid ‘Another Crash’: Read Elizabeth Warren’s ‘Inflated Bond Ratings’ Letter

  1. Whatever your view on Warren’s potential as a president and some of her policies, you have to acknowledge she knows more about financial markets and has more insightful ideas than any other candidate in either party.

  2. Sort of sad to think there is no way our Fair Orange Leader would ever sit down on his own and acutally read this letter, let alone begin to understand it.

  3. vicissitude

    The destruction of Dodd-Frank is probably more important to the GOP than cutting taxes, building The Wall or destroying ObamaCare/ACA … but maybe not as important as taking away Social Security and Medicare. There’s not too much in that letter I disagree with, but she needs to add on a P.S. about the Fed’s newest gimmick to play games with their Standing Repo Facility, which is basically a way to pay banks to hold Treasury debt, versus forcing banks to hold excess cash reserves … it basically just supercharges the excess arbitrage game and steals taxpayer funds.

    • Can you explain how the standing repo facility is basically a way to pay banks to hold treasury debt? My understanding is that the central bank is lending cash using banks’ treasuries as collateral. This gives banks more time to find buyers of those treasuries and prevents the cash lenders from being able to demand interest rates above the fed’s limits. I don’t see how we’re getting screwed.

      This is a sincere question and I’ll happily change my view.

  4. Too bad this letter wasn’t written by someone / anyone around 2009

  5. The above memo is everything you need to know about why so many of the big boys on Wall Street and their bought-and-sold pols in Washington are determined to prevent Warren from becoming president. They’ll call her a socialist. What she really is is smart and honest.

  6. I fear the corruption runs very deep and those who benefit the most will not want to give it up.

  7. There is currently reporting that a number of big Wall Street donors are threatening to back Trump, if Warren is nominated.
    Not sure how most American’s feel about Wall Street these days. Would that hurt or help Warren?

    • Take that “reporting” with a grain of salt. CNBC’s work is notoriously superficial.

      Not saying that article isn’t “real” (per se), just saying it was characteristically shoddy work. Give me a direct line to a couple of CEOs and I could have written that “article” in 15 minutes. They featured it like it was some kind of feat of investigative journalism.

      If you start seeing lengthy, heavily-sourced articles to the same effect from NYT or BBG (or hell, even Axios which, despite their odd style that relies primarily on bullet points and summaries, is very well connected), that’s when you should take it seriously

      My sense is that Wall Street will warm to Warren if Biden falls enough in the polls to put him close to or even with Bernie. Remember, Warren is an avowed capitalist. Bernie is, well, not. LOL

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