I read yet another puff piece about senator Elizabeth Warren today. This time the Massachusetts Democrat was explaining why she moved from being a Republican to a Democrat. Here is how she put it on ABC this morning:
It may sound good, but it's just another lie from just another Democrat.
First, the biggest move in the past decade to protect big financial institution was the Dodd Frank law. It was passed by Democrats over the objection of most Republicans precisely because Dodd Frank enshrines the doctrine of "too big to fail". The government in essence guarantees the existence of the biggest financial institutions while putting all sorts of restrictions on smaller institutions so that these smaller firms can no longer compete fairly with the big ones. In other words, the Democrats did exactly what Warren claims was done by the Republicans.
The Republicans did protest the imposition of fees and charges on banks that issue debit cards but that was done so that consumers could avoid having to pay those fees. We all know that when new taxes or fees get placed on businesses, those businesses pass the costs on to the consumers. Siding with the consumers against unnecessary fees does not constitute support for a tilted playing field. Elizabeth Warren well knows this; she is not dumb. But it seems that the truth does not matter to her.
We would all do well to remember that Warren is the woman who claimed to be part native American, something which likely helped her in her academic career both as a student and a professor. When pressed to disclose the basis for her claim that she was part Cherokee, Warren related how her aunt told her that she had high cheek bones like the Cherokees so she must be part Native American. Of course, Warren still refuses to allow her college records and employment records to be revealed. That could uncover that she falsely used her phony Native American background to further her career.
"I was originally an independent. I was with the GOP for a while because I really thought that it was a party that was principled in its conservative approach to economics and to markets and I feel like the GOP party just left that. They moved to a party that said, 'No, it's not about a level-playing field, it's now about a field that has gotten tilted,' and they really stood up for the big financial institutions when the big financial institutions are just hammering middle class American families. You know, I just feel like that's a party that moved way, way away."
It may sound good, but it's just another lie from just another Democrat.
First, the biggest move in the past decade to protect big financial institution was the Dodd Frank law. It was passed by Democrats over the objection of most Republicans precisely because Dodd Frank enshrines the doctrine of "too big to fail". The government in essence guarantees the existence of the biggest financial institutions while putting all sorts of restrictions on smaller institutions so that these smaller firms can no longer compete fairly with the big ones. In other words, the Democrats did exactly what Warren claims was done by the Republicans.
The Republicans did protest the imposition of fees and charges on banks that issue debit cards but that was done so that consumers could avoid having to pay those fees. We all know that when new taxes or fees get placed on businesses, those businesses pass the costs on to the consumers. Siding with the consumers against unnecessary fees does not constitute support for a tilted playing field. Elizabeth Warren well knows this; she is not dumb. But it seems that the truth does not matter to her.
We would all do well to remember that Warren is the woman who claimed to be part native American, something which likely helped her in her academic career both as a student and a professor. When pressed to disclose the basis for her claim that she was part Cherokee, Warren related how her aunt told her that she had high cheek bones like the Cherokees so she must be part Native American. Of course, Warren still refuses to allow her college records and employment records to be revealed. That could uncover that she falsely used her phony Native American background to further her career.
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