Skip to comments.Elizabeth Warren Blames Financial Crisis, Middle Class Erosion on...Ronald Reagan
Posted on 05/20/2014 7:36:49 PM PDT by Lazamataz
Because when President Barack Obama was blaming every problem under the sun on his predecessor President George W. Bush, he just wasnt go back far enough. Via RCP:
WARREN: I grew up in an America that was investing in kids. It was investing in public universities. It had a higher minimum wage. It was an America that said every kid would get a fighting chance. And thats how we built Americas great middle class. Then starting in about the 1980s, we turned in a different direction.
COLBERT: You mean when Reagan came in and it was morning in America. The direction toward greatness, pride.
WARREN: Thats right. And what happened is that he had a couple of ideas. The first one was that they would fire the cops. Not the ones on Main Street but the ones on Wall Street.
COLBERT: The ones who were shackling creativity, and ingenuity in our financial institutions.
WARREN: And making sure the biggest financial institutions actually followed the law. Those were the cops they got rid of.
COLBERT: The law thats a vague term, law. Your one mans law is another persons regulations. And regulation is bad. Regulation stifles business and stifles entrepreneurship.
WARREN: No, no. no. See if we dont have happens is exactly what happened then. And that is the big financial institutions made billions of dollars by cheating people on credit cards, mortgages.
COLBERT: What do you mean cheating people on credit cards? You sign up for a credit card, you use the credit card and then you have to pay your bills. Is that too complicated for Harvard?
(Excerpt) Read more at nation.foxnews.com ...
I blame it on the BIA.
White woman of color speak with For Ked tongue.
When Elizabeth Warren holds a telephone up to her head the party at the other end hears the ocean.
Maybe Princess Lying Toad could blame it on Sitting Bull.
Fauxcohantas needs to put a sock in it.
“Then starting in about the 1980s, we turned in a different direction. “
And thank God we did, idiot, because Carter was sitting there watching the country go down the drain. Reagan started a 20 year economic boom.
Gee, why the hell would we want to go back to the 80’s, we were all working.
Miserable lying bitch..
She grew up buying foreclosed houses and flipping them.
From there she went on to lying about Indian ancestry to land a sweet job at Harvard.
She says she cares about the poor but lives in a multi-million dollar home in Cambridge.
Wow, they be way too clever for me. If I didn’t know better I’d swear they’re trying to be sarcastic (or something).
Buy it's true, she cares a great deal about the poor. That is she cares a great deal about keeping the poor the hell away from her and her house in Cambridge.
Are you serious? Honest injin?
Does anybody remember the 1970’s? I do. It was hell. You couldn’t buy a job. Delusional Leftists.
“Does anybody remember the 1970s? I do. It was hell. You couldnt buy a job. Delusional Leftists.”
Yep, graduated 1980. My first election of voting age and voted for Ronald Reagan. I’ve never felt as proud as I did voting for that man that day.
Carter was an absolute disaster. As a high school age kid, we thought the world was coming to an end.
“She says she cares about the poor but lives in a multi-million dollar home in Cambridge.”
She does care about the poor and is going to use YOUR money to “help” them.
Franklin Pierce did it!
Investing = Spending like a drunken Democrat and achieving nothing.
She’s right. But although it may have started with Reagan, each president after him—democrat and republican alike—did their best to screw the middle class.
Warren is blaming Reagan?? My gosh, I wonder when Dems going to blame Liberalism and unions on the decline of the middle class??
Obama makes Jimmy Carter look like FDR...
Who gives a damn what this lying make believe Native American says.
She is an insult to every one of us who is actually real and on the books.
Run if you want warren but there will be a big drum beating every where you go.
i think with the meadow muffins she’s speaking her name should be Sh1tting Bull (as she’s bulsh1tting).
Actually back in the 80’s she was still trying to figure out what the funny little cardboard tubes were for that came out of the girls bathroom dispensing machine.
Heap big snow job!
Once the commitment was made that we would solve this moral dilemma with the intervention of government and compel hospitals to treat people who came to their emergency room, or to treat the indigent, or to treat illegal aliens, we had to establish a system but a system with unintended consequences. These services cost money and therefore people who never before considered they had a moral duty to part with their hard-earned money to provide health care for the poor now found themselves at the figurative end of the government's rifle barrel compelled to render up taxes to answer this moral dilemma.
Once the government subsidized it had to tax and once it taxed and subsidized it had to regulate. That is simply the nature of public funding. Every time a new moral dilemma popped up in healthcare, which with modern technology was happening virtually every day the cost of government intervention in healthcare delivery grew exponentially. Of course, as healthcare expenses grew exponentially, healthcare regulation also inevitably grew exponentially. Worse, the stampede toward regulation was accelerated as the government regulated more to undo the unintended consequences of past regulation.
One causing the other until the original moral imperative of helping the helpless becomes utterly perverted and the government becomes tyrannical and deprives its citizens of healthcare by the mother of all regulations-Obamacare.
One can lay this template down against so many aspects of human endeavor to see the pattern of regulatory growth leading ultimately to government tyranny.
Once Franklin Roosevelt schooled all politicians that their careers would be made up by pandering to the "moral need" to protect people from the vicissitudes of the free marketplace, the game was on in regulating all commerce until we see finally the lines cross, we regulate Wall Street and Main Street and healthcare until there is only tyranny as all lines meet in Washington.
Conservatives chronically lose the battle to stop regulations because we are quite correct morally but we are at the wrong end of the emotional arguments. We are telling folks to eat their spinach (no connection to Mrs. Obama) while the Democrats give them a sugary dessert. Politicians who pander to short-term interests will invariably be elected over politicians who call on the people to sacrifice today for the game tomorrow.
I agree. Reagan was a great communicator of a vision of a strong and prosperous America. Yet he was not a technician or policy wonk. The unintended consequences of supply side (voodoo?) economics, deregulation, and free trade ideas that evolved from his administration led to the excesses of subsequent administrations that caused the collapse of 2008 that ushered Obama to power. That said, Reagan was a great president.
You are off base Reagan lowered tax rates and reduced Federal regulations and the economy recovered. Congress under Clinton repealed Glass Steigal used CRA as a club against banks and allowed Fannie/Freddie to load up on crap mortgages which defaulted in huge numbers. Reagan was not the father of that Clinton Dodd Frank and other DemocRATs were
Do demodummies ever take responsibility for their own actions instead of blaming a republican?
Also correct about the CRA. Janet Reno threatened the banks with all sorts of suits if they did not do more lending to those who could never repay the loans. No great admirer of Bush Jr. but to his credit he tried a number of times to rein in Freddie Mac/ Fannie Mae and was actively opposed by Barney Frank and Chris Dodd.