- Harvard Law School
- Senator Elizabeth Warren
- President Barack Obama
- Picador
- Consumer Financial Protection Bureau
- Hillary Clinton
- TARP Congressional Oversight Panel
- National Bankruptcy Review Commission
- The Game Is Still Rigged
- Trans-Pacific Partnership (TPP)
- Wells Fargo
- CEO John Stumpf
- Wall Street bankers
- Senate Banking Committee
A Fighting Chance, by Elizabeth Warren (Picador, 2015, New York, NY, 377 pages).
Book Review by Dennis Moore
July 19, 2015 (San Diego’s East County) - Elizabeth Warren, the senior senator from Massachusetts, a former Harvard Law School professor and an expert on economic issues, as well as the author of nine books, including All Your Worth: The Ultimate Lifetime Money Plan and The Two-Income Trap: Why Middle-Class Parents Are Going Broke, has written an insightful book that should resonate with us all; A Fighting Chance.
Warren is widely credited with developing the idea for the Consumer Financial Protection Bureau, and she helped set up the new agency as an assistant to President Obama, which is reflected in her writing and thinking throughout this book. As chair of the TARP Congressional Oversight Panel and as the senior advisor to the National Bankruptcy Review Commission, this background makes it clear why many thought that Warren would be a strong challenger to former Secretary of State Hillary Clinton in the campaign for President of the United States.
As a child in Oklahoma, Warren yearned to go to college and become a teacher – an ambitious goal, given her family’s modest means. Yet, by 1995, she was a distinguished law professor with a deep understanding of why people go bankrupt. And then came the call that changed her life. Would she come to Washington, D.C., to help advise Congress on rewriting the bankruptcy laws? This New York Times Bestseller, answers that question.
Thus began an impolite education in the bare-knuckled ways of Washington. She fought for better bankruptcy laws and lost. She tried to hold the federal government accountable during the financial crisis but became a target of the big banks. She hatched an idea for a new agency designed to protect consumers and was denied the opportunity to run it. Warren gives the how and why in this thorough accounting of her life, A Fighting Chance. In this passionate, funny, rabble-rousing book, Warren shows why she has become a hero to all those who believe that America’s working families deserve a fighting chance.
Setting the tone in Warren’s well written and insightful book, is a passage titled; The Game Is Still Rigged, which states: “And now that I’ve been in the United States Senate for two years, I’ve had a chance to see it up close and personal. More than ever, I am convinced that the game is rigged. There are a thousand ways to describe it:
- Wall Street bankers crashed the economy in 2008, and now they’re making millions of dollars more than they did before the crash. Across the country, workers did their jobs honestly and carefully, but 8.7 million men and women were laid off during the Great Recession and the average family is now making less than before the crash.
- When the recession hit, the federal government loaned trillions of dollars to the biggest banks in the country, quietly and out of sight, at interest rates near zero. At the same time, the federal government loaned money to college students at interest rates that were more than ten times higher than those offered to big banks – giving the government tens of billions of dollars in profits made off the backs of students.”
In further regard to Senator Warren's disdain for Wall Street bankers, recently as a member of the Senate Banking Committee, Warren took Wells Fargo CEO John Stumpf to task at a hearing and excoriated him by stating that he should resign and that he should be criminally investigated. This was in the aftermath of Wells Fargo being fined $185 million for corporate malfeasance.
United States Senators Elizabeth Waren (D-Mass.), Sherrod Brown (D-Ohio), Jack Reed (D-R.I.), Robert Menendez (D-N.J.), Bernard Sanders (I-Vt.), Jeff Merkley (D-Ore.), Kirsten Gillibrand (D-N.Y.), and Mazie Hirono (D-Hawaii) recently sent a letter to Department of Labor (DOL) Secretary Tom Perez and Wage and Hour Division Administrator David Weil requesting that DOL investigate whether Wells Fargo violated the Fair Labor Standards Act (FLSA) with respect to its account executives, bank tellers, branch managers, and customer service represetatives. See attached and reference letter here.
Senator Warren is relentless in her pursuit of wrongdoing by the banking industry, and in particular, Wells Fargo. She followed up with her Senate Banking Committee hearing with Wells Fargo CEO John Stumpf, after he did indeed resign, with the attached letter to Steven Sanger of Wells Fargo here.
This sounds a bit cynical, and perhaps the reason why Senator Warren decided against running for President, despite the popularity she had generated throughout the country for her views. After reading her book, and in hindsight, I can better understand why Senator Warren decided against running for President. She was going to need President Obama’s support, and with her and the President having some serious differences with the international trade deal known as the Trans-Pacific Partnership (TPP), it became clear that she was not going to get that support. President Obama was actually quoted as saying regarding TPP: “I love Elizabeth. We’re allies on a whole host of issues. But she is wrong on this.” Senator Warren countered, by stating: “The Obama Administration says I am wrong – we shouldn’t worry about TPP. So why can’t the American people read the deal?”
A Fighting Chance says a lot about the character of Senator Warren, and if not now, perhaps at some future point in time she might rethink her run for President. This is an insightful book that gives us a clear view to the inner workings of politics and government in Washington.
Dennis Moore is the Associate Editor of the East County Magazine in San Diego and the book review editor for SDWriteway, an online newsletter for writers in San Diego that has partnered with the East County Magazine, as well as a freelance contributor to EURweb based out of Los Angeles. Mr. Moore can be contacted at contractsagency@gmail.com or you can follow him on Twitter at: @DennisMoore8.
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Vice President Elizabeth Warren - YES!
Senator Elizabeth Warren's brother dies of COVID-19!
Received the sad and unfortunate news today from the Chicago Sun-Times Newspaper that Senator Elizabeth Warren's older brother has died from COVID-19 at the age of 86. This Coronavirus Pandemic seems to be striking everyone randomly as indicated in the attached "Ted Talks" video here.
I remember Elizabeth talking about her brothers
When she was here in San Diego. So sad to hear she's lost one of them to the pandemic.
Wells Fargo chief to forgo $45 million over scandal
Wells Fargo & Co. Chief Executive John Stumpf will forfeit compensation worth about $45 million as the bank tries to appease angry lawmakers and regain the trust of customers amid the still-unfolding scandal over fake accounts, according to a story today in the Los Angeles Times.
Senator Elizabeth Warren to Wells Fargo CEO: "You should resign"
Facing off with the CEO whose massive bank appropriated customers' information to create millions of bogus accounts, Sen. Elizabeth Warren, D-Mass., had sharp questions Tuesday for Wells Fargo CEO John Stumpf. She said Stumpf made millions of dollars in the "scam," telling him, "You should resign ... and you should be criminally investigated."
Senator Warren also Tweeted: "You should resign. You should give back the money that you took."
A Fighting Chance
California lawmakers assail Wells fargo in hearing!
Members of Assembly panel grill regional bank executive in Calabasas while calling for reforms to curb abusive practices, according to a story by James Rufus Koren in the Los Angeles Times on Wednesday, October 12, 2016. members of the Assembly's banking committee attacked Wells Fargo for allowing as many as 2 million unauthorized accounts to be opened. Earlier, Senator Elizabeth Warren at a Senate Banking Committee hearing, calling on Wells Fargo CEO John Stumpf to resign, which he did shortly thereafter. Wells Fargo esecutive David Galasso at a hearing on Tuesday called by the Assembly's banking panel, said that the bank is reviewing accounts created as far back as 2009, but abuses appear to have started before then.
VICE-PRESIDENT ELIZABETH WARREN!
Yes, I realize that this might be a bit presumptious, but after seeing and listening to Senator Warren and Hillary Clinton this morning on MSNBC campaign together in Ohio, they seemed to be a perfect fit. Senator Warren gives Hillary Clinton balance in her pursuit of the White House.
VICE-PRESIDENT ELIZABETH WARREN!
Yes, I realize that this might be a bit presumptious, but after seeing and listening to Senator Warren and Hillary Clinton this morning on MSNBC campaign together in Ohio, they seemed to be a perfect fit. Senator Warren gives Hillary Clinton balance in her pursuit of the White House.
A Fighting Chance, by Elizabeth Warren
Senator Elizabeth Warren for President because of Impeachment
Because Senator Elizabeth Warren has the guts and love for what the Constitution stands for, I am inclined to vote for her for President. While the likes of Nancy Pelosi, Kamala Harris and others are dancing around at the prospect of calling for the impeachment of President Trump, in the face of all that is identified in the Mueller Report about President Trump and his allegiance with Russia, we need to put our country first! And yes, I have read the Mueller Report thoroughly, and I am appalled by what is in it. I am really disappointed and ashamed at some of our politicians that seem to put their careers first, and not that of the country. Political expediency has just got to go! If we do not hold those involved in the Russians interferring in our electoral process, we could one day be taken over by Russia. It is beyond me why people like Lindsey Graham and Mitch McConnell in the enate will go to extremes to protect Trump in the face of what is indicated by the Mueller report. There has to be more people like Senator Warren that cares more for our country and the Constitution than their political careers. Read the Mueller Report here.
Warren: "Nasty Women" have really had it with guys like Trump
Following up on Donald Trump referring to Hillary Clinton in the last and recent debate as a "nasty woman", Senator Elizabeth Warren stated yesterday: "Nasty Women" have really had it with guys like Trump.
JOE BIDEN SECRETLY MET WITH ELIZABETH WARREN SATURDAY
Vice President Joe Biden secretly met with Senator Elizabeth Warren Saturday, according to reports out of CNN, possibly assessing his chances of running for President. CNN said it was "the biggest indication yet" that Biden could be feeling out his chances. Bloomberg called it "a sign that Biden is courting influential members of the party before announcing his intentions."
Elizabeth Warren
Senator Elizabeth Warren made her points last night in debate!
Senator Elizabeth Warren made her points last night in the Democratic debate with the likes of Senator Bernie Sanders, former Vice President Joe Biden and former New York City Mayor Mike Bloomberg.
Elizabeth Warren for President!
After writing subject book review a few years ago, when I actually thought Elizabeth Warren would be running for President, and she didn't, now I see that she is!
Wells Fargo CEO John Stumpf Called to Account
As Senator Elizabeth Warren is a pretty vocal member of the Senate Banking Committee, I am sure she will have some strong words for Wells Fargo CEO John Stumpf at a scheduled hearing tomorrow, regarding the order for Wells Fargo to pay a fine of $185 million for corporate malfeasance.
FAKE
Senator Elizabeth Warren latest to appear on cover of Time
Presidential candidate Senator Elizabeth Warren is the latest to appear on the come of Time Magazine. stresing that "She has a plan!" See cover here!
Washington is again calling a top banker to answer.
The Senate Banking Committee has summoned John Stumpf, chief executive of Wells Fargo & Co., to testify about the bank's alleged sales-practices misdeeds after it agreed last week to pay a $185 million fine and enter into an enforcement action with regulators, according to a story by John Carney in the Wall Street Journal. Mr. Stumpf told The Wall Street Journal in an interview Tuesday that he is prepared to "share Wells Fargo's story" at the hearing.
His testimony will be the first from a big-bank chief under fire since 2012. Back then, the committee brought in J.P. Morgan Chase & Co. chief James Dimon to explain his bank's "London whale" trading losses, in which the company lost more than $6 billion.
Mr. Carney of the Wall Street Journal points out in his story that the banking committee now includes Sen. Elizabeth Warren (D., Mass.), the architect of the Consumer Financial Protection Bureau and perhaps the toughest critic of big banks on Capital Hill. She was one of the first lawmakers to call for Mr. Stumpf to testify and has already described Wells Fargo's alleged misconduct as "a staggering fraud" in a CNN interview, according to Carney.
FRAUD
the woman is a fraud .. from her so called indian heritage to her love of the little guy. ask her about her time flipping properties or her own fortune ... no she is a fraud and as big a danger to the Republic as obama
Senator Warren is relentless towards Wells Fargo
Senator Elizabeth Warren is relentless in her pursuit towards wrongdoing in the banking industry, and in particular, Wells Fargo. Despite her efforts in the Senate Banking Committee hearing to get Wells Fargo CEO John Stump to resign, which he did in fact, she would later send a letter to Steven Sanger, Chairman of the Wells Fargo Board, stating that was not enough.
Wells Fargo wants suits heard out of court
Wells Fargo & Co. is trying to keep dozens of customers suing over bogus accounts opened by its employees out of court, saying they agreed to resolve any disputes in arbitration when they began doing business with the bank.