UPDATED: CNBC hosts try to teach Senator Warren how regulation works but fail

UPDATE: As noted by John Casper in the comments, CNBC has had the clip of Sen. Warren’s appearance on “Squawk Box” removed from YouTube on copyright grounds.

Watch as Democratic Sen. Elizabeth Warren of Massachusetts appears on “Squawk Box” on CNBC to discuss her support for reimplementing the Glass-Steagall Act that limited commercial bank securities activities and affiliations between commercial banks and securities firms.

Despite the best attempts of the CNBC crowd to try to “teach” Sen. Warren how regulation of the financial sector works (or doesn’t work, in their opinion), Sen. Warren actually uses their own words against them (at around 3:42 in the video).

H/T to Upworthy.


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8 thoughts on “UPDATED: CNBC hosts try to teach Senator Warren how regulation works but fail

  1. Betcha they don’t try that again, “Hey, let’s get back to trending tweets and favorite videos!” Democrats just have to be smarter and well prepared, because the corporate controlled media will continue to work on these issues against the benefit of the American public and for the current global world order.

    1. I’d support a legislator like Warren money whatever her political party if she/he was offering any bit of effort toward legislating for we the people.

      Dumbascrates don’t have enough willingness or sense to be calling out the criminality of their own corporate controlled POTUS (and underlings), so I don’t give many of them much chance of leaving their own transnational corporate sponsors nor to actually worry about we the people.

      Thanks for the morning laugh, Cat Kin.

      1. First cuppa coffee, delete ‘money,’ after Warren, please, sorry for the typo, was laughing too hard to proof read properly.

      2. non,

        please name all the Republicans (Except for Rand Paul) who are trying to restore Glass-Steagall, or do ANYTHING that Wall Street doesn’t want.

        And Paul wants to put us back on the gold-standard, that Nixon took us off of. That would really catapult the economy back into the stone age.

        I don’t see any Republicans bashing Obama for letting Bank of America “socialize” $75 TRILLION in risk onto the taxpayers.


        US GDP in 2010 was around $14.5 trillion. Conservative estimates of what we blew in Iraq and Afghanistan are around $6 trillion. Social Security’s Trust fund is around $2.3 trillion.

        Think that didn’t help Bank of America? “Bank of America reports 63% profit increase” http://www.usatoday.com/story/money/business/2013/07/17/bank-of-america-second-quarter-earnings/2523393/

        If the BoA’s derivative bets pay off, their shareholders keep 100% of the profit and because of all the smart tax attorneys won’t even have to pay 15% capital gains on their profits. The tax payers get zero.

        If the derivatives turn out to be losing bets, like they did in the bank crash of 2008, the taxpayers are on the hook, NOT the shareholders. It’s the polar opposite of capitalism where those who take the risk are supposed to get the reward.

        Thanks to the lack of transparency, we have no idea how derivative risk is out there. I’ve seen estimates of around $700 trillion.

        We’re not broke, we’re giving everything to Wall Street.

    1. Another puncture wound piercing through Libertarian insistence that only governments engage in censorship.

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