Elizabeth Warren's Victory Speech (2012 Election)

On September 14, 2011, Warren declared her intention to run for the Democratic nomination for the 2012 election in Massachusetts for the United States Senate. The seat had been won by Republican Scott Brown in a 2010 special election after the death of Ted Kennedy.[38][39] A week later, a video of Warren

speaking in Andover became popular on the internet.[40] In it, Warren replies to the charge that asking the rich to pay more taxes is "class warfare," pointing out that no one grew rich in America without depending on infrastructure paid for by the rest of society, stating:[41][42] There is nobody in this country who got rich on his own. Nobody. ... You moved your goods to market on the roads the rest of us paid for; you hired workers the rest of us paid to educate; you were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn't have to worry that marauding bands would come and seize everything at your factory,

Elizabeth Warren - Truth in Lending (2013) : Consumer Financial Protection Bureau Semi-annual Report

Harvard Law School professor and bankruptcy expert Elizabeth Warren, who was special consultant in charge of implementing it, was removed from the running for director after Obama administration officials became convinced she "could not overcome strong Republican opposition".[12] On July 17, Former Ohio Attorney General and Ohio State Treasurer Richard Cordray was selected over Warren as the head of the entire CFPB.[13] However, his nomination was immediately in jeopardy due to 44 Senate Republicans vowing to derail any nominee in order to encourage a decentralized structure to the organization. Senate Republicans had also shown a pattern of refusing to consider regulatory agency nominees, purportedly as a method of budget cutting.[14] Due to the way the legislation creating the bureau was written, without a Director the agency is not able to write new rules or supervise financial institutions other than banks.[5]
On July 21, Senator Richard Shelby wrote an op‑ed article for the Wall Street Journal affirming continued opposition to a centralized structure, noting that both the Securities Exchange Commission and Federal Deposit Insurance Corporation had executive boards and that the CFPB should be no different. He noted lessons learned from experiences with Fannie Mae and Freddie Mac as support for his argument.[15] Politico interpreted Shelby's statements as saying that Cordray's nomination was "dead on arrival".[16] Republican threats of a filibuster in the Senate to block the nomination in December 2011 led to Senate inaction.
On January 4, 2012, Barack Obama issued a recess appointment to install Cordray as director through the end of 2013; this was highly controversial move as the Senate was technically in pro-forma session, and the possibility existed that the appointment could be challenged in court.[17]
The constitutionality of Cordray's recess appointment came into question due to a January 2013 ruling by the United States Court of Appeals for the District of Columbia Circuit that Obama's appointment of three members to the NLRB (at the same time as Cordray) violated the Constitution.
On July 16, 2013 the Senate confirmed Richard Cordray as director in a 66-34 vote.

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

Elizabeth Warren on Women's Issues and Politics (2012)

During the late-1970s, the 1980s, and the 1990s, Warren taught law at several universities throughout the country, while researching issues related to bankruptcy and middle-class personal finance. Warren taught at the Rutgers School of Law--Newark during 1977--1978, the University of Houston Law Center from 1978 to 1983, and the University of Texas School of Law from 1981 to 1987, in addition to teaching at the University of Michigan as a visiting professor in 1985 and as a research associate at the University of Texas at Austin from 1983 to 1987.

She joined the University of Pennsylvania Law School in 1987 and became a tenured professor. She began teaching at Harvard Law School in 1992, as a visiting professor, and began a permanent position as Leo Gottlieb Professor of Law in 1995.[16]

In 1995 Warren was asked to advise the National Bankruptcy Review Commission.[17] She helped to draft the commission's report and worked for several years to oppose legislation intended to severely restrict the right of consumers to file for bankruptcy. Warren and others opposing the legislation were not successful; in 2005 Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.[18]

From November 2006 to November 2010, Warren was a member of the FDIC Advisory Committee on Economic Inclusion.[19] She is a member of the National Bankruptcy Conference, an independent organization which advises the U.S. Congress on bankruptcy law.[20] She is a former Vice-President of the American Law Institute and a member of the American Academy of Arts and Sciences.[21]

Warren has had a high public profile; she has appeared in the documentary films, Maxed Out and Michael Moore's Capitalism: A Love Story.[22] She has appeared numerous times on television programs including Dr. Phil and The Daily Show,[23] and has been interviewed frequently on cable news networks, radio programs, and websites.

Warren has written several books, including All Your Worth: The Ultimate Lifetime Money Plan, coauthored with her daughter, Amelia Tyagi.

Warren and Tyagi wrote The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke. Warren and Tyagi point out that a fully employed worker today earns less inflation-adjusted income than a fully employed worker did 30 years ago. Although families spend less today on clothing, appliances, and other consumption, the costs of core expenses such as mortgages, health care, transportation, and child care have increased dramatically. The result is, that even with two income-earners, families are no longer able to save and they have incurred greater and greater debt.[24]

In an article in The New York Times, Jeff Madrick said of Warren's book: The authors find that it is not the free-spending young or the incapacitated elderly who are declaring bankruptcy so much as families with children ... their main thesis is undeniable. Typical families often cannot afford the high-quality education, health care, and neighborhoods required to be middle class today. More clearly than anyone else, I think, Ms. Warren and Ms. Tyagi have shown how little attention the nation and our government have paid to the way Americans really live.[25]

Writing in Time magazine, Maryanna Murray Buechner said of Warren's book: For families looking for ways to cope, Warren and Tyagi mainly offer palliatives: Buy a cheaper house. Squirrel away a six-month cash cushion. Yeah, right. But they also know that there are no easy solutions. Readers who are already committed to a house and parenthood will find little to mitigate the deflating sense that they have nowhere to go but down.[26]

In 2005, Warren and David Himmelstein published a study on bankruptcy and medical bills,[27] which found that half of all families filing for bankruptcy did so in the aftermath of a serious medical problem. They say that three quarters of such families had medical insurance.[28] This study was widely cited in policy debates, although some have challenged the study's methods and offered alternative interpretations of the data, suggesting that only seventeen percent of bankruptcies are directly attributable to medical expenses.

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

ELIZABETH WARREN ~ Press Conference on the Affordable Care Act

Press Conference on the Affordable Care Act

Senator Elizabeth Warren speaks at a press conference with Democratic women senators on the importance of the Affordable Care Act for women and families.

Oversight of Financial Crisis: Elizabeth Warren Interview (2010)

The US Pension Protection Act of 2006 included a provision which changed the definition of Qualified Default Investments (QDI) for retirement plans from stable value investments, money market funds, and cash investments to investments which expose an individual to appropriate levels of stock and bond risk based on the years left to retirement. The Act required that Plan Sponsors move the assets of individuals who had never actively elected their investments and had their contributions in the default investment option. This meant that individuals who had defaulted into a cash fund with little fluctuation or growth would soon have their account balances moved to much more aggressive investments.

Starting in early 2008, most US employer-sponsored plans sent notices to their employees informing them that the plan default investment was changing from a cash/stable option to something new, such as a retirement date fund which had significant market exposure. Most participants ignored these notices until September and October, when the market crash was on every news station and media outlet. It was then that participants called their 401(k) and retirement plan providers and discovered losses in excess of 30% in some cases. Call centers for 401(k) providers experienced record call volume and wait times, as millions of inexperienced investors struggled to understand how their investments had been changed so fundamentally without their explicit consent, and reacted in a panic by liquidating everything with any stock or bond exposure, locking in huge losses in their accounts.

Due to the speculation and uncertainty in the market, discussion forums filled with questions about whether or not to liquidate assets[4] and financial gurus were swamped with questions about the right steps to take to protect what remained of their retirement accounts. During the third quarter of 2008, over $72 billion left mutual fund investments that invested in stocks or bonds and rushed into Stable Value investments in the month of October.[5] Against the advice of financial experts, and ignoring historical data illustrating that long-term balanced investing has produced positive returns in all types of markets,[6] investors with decades to retirement instead sold their holdings during one of the largest drops in stock market history.

During the week ending September 19, 2008, money market funds had begun to experience significant withdrawals of funds by investors. This created a significant risk because money market funds are integral to the ongoing financing of corporations of all types. Individual investors lend money to money market funds, which then provide the funds to corporations in exchange for corporate short-term securities called asset-backed commercial paper (ABCP). However, a potential bank run had begun on certain money market funds. If this situation had worsened, the ability of major corporations to secure needed short-term financing through ABCP issuance would have been significantly affected. To assist with liquidity throughout the system, the US Treasury and Federal Reserve Bank announced that banks could obtain funds via the Federal Reserve's Discount Window using ABCP as collateral.[1][7]

On November 25, 2008 the Fed announced it would buy $800 billion dollars of debt and mortgage backed securities, in a fund separate from the 700-billion dollar Troubled Asset Relief Program (TARP) that was originally passed by Congress.[14] According to the BBC,[15] the Fed would use the fund to buy the following: up to $100bn in debt from Fannie Mae and Freddie Mac up to $500bn in mortgage-backed securities

The fund would also be used to loan up to $200bn to the holders of securities backed by various types of consumer loans, such as credit cards and student loans, to help unfreeze the consumer debt market. According to a Des Moines Register editorial, it is not clear whether bodies that oversee the TARP will oversee Paulson's control of the Fed's $800 billion loan and bond actions.[16]

As of December 24, 2008, the Federal Reserve had used its independent authority to spend $1.2 trillion on purchasing various financial assets and making emergency loans to address the financial crisis, above and beyond the $700 billion authorized by Congress from the federal budget. This includes emergency loans to banks, credit card companies, and general businesses, temporary swaps of treasury bills for mortgage-backed securities, the sale of Bear Stearns, and the bailouts of American International Group (AIG), Fannie Mae and Freddie Mac, and Citigroup.
http://en.wikipedia.org/wiki/United_S...

Senator Elizabeth Warren Addresses the 2013 ACS National Convention

On Thursday, June 13, 2013, Senator Elizabeth Warren (D-Mass.) gave keynote remarks to the 2013 ACS National Convention.

Elizabeth Warren ~ Banking Committee Nominations Hearing

Senator Elizabeth Warren's Q&A at the September 10, 2013 Banking Committee Hearing to consider the nominations of Wanda Feltonto be First Vice President, Export-Import Bank of the United States and Katherine M. O'Regan to be an Assistant Secretary, U.S. Department of Housing and Urban Development.

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

Warren was an early advocate for the creation of a new Consumer Financial Protection Bureau (CFPB). The bureau was established by the Dodd--Frank Wall Street Reform and Consumer Protection Act signed into law by President Obama in July 2010. In anticipation of the agency's formal opening, for the first year after the bill's signing, Warren worked on implementation of the bureau as a special assistant to the president. While liberal groups and consumer advocacy groups pushed for Obama to nominate Warren as the agency's permanent director, Warren was strongly opposed by financial institutions and by Republican members of Congress who believed Warren would be an overly zealous regulator.[14][15][16] Reportedly convinced that Warren could not win Senate confirmation as the bureau's first director,[17] Obama turned to former Ohio Attorney General Richard Cordray and in January 2012, over the objections of Republican Senators, appointed Cordray to the post in a "recess appointment".[18][19]
TARP oversight

On November 14, 2008, Warren was appointed by United States Senate Majority Leader Harry Reid to chair the five-member Congressional Oversight Panel created to oversee the implementation of the Emergency Economic Stabilization Act.[20] The Panel released monthly oversight reports that evaluated the government bailout and related programs.[21] During Warren's tenure, these reports covered foreclosure mitigation, consumer and small business lending, commercial real estate, AIG, bank stress tests, the impact of the Troubled Asset Relief Program (TARP) on the financial markets, government guarantees, the automotive industry, and other topics.[a]
Taxes

Warren supports the Buffett Rule, which would restore the Clinton tax rates on the top income bracket.

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