Politics and Religion

I think everyone knows how I feel about Elizabeth Warren
GaGambler 431 reads
posted

but that doesn't mean she is wrong all the time.

 
She brings up a very valid point when grilling Ex Ceo Richard Smith, Equifax is actually going to PROFIT by being hacked.

 
I watched most of it live on CNBC this morning and he had basically no response to her when she brought this up.  I don't trust "Big Government" but neither can "Big Business" be trusted either. I don't like the fact that Elizabeth Warren is pretty much "anti business" period, and is no more a friend to small business than she is to big business, but she nailed Equifax to the wall this morning.

especially in her "wheelhouse", the financial sector. She seems to have a good grasp of the issues.  It's when she branches out that you see her Progressive leanings and "Big Government" approach to problem solving. One example is her going after AirBnb, specifically in San Francisco. She doesn't like the idea of individuals being flexible with their property and seeking income at the "possible" expense of an affordable housing issue.  Part of me wants to give her the benefit of the doubt as just not understanding a sharing economy type model, which is relatively new. But I realize she just a lighter version of Bernie Sanders.  

We watch activist investors/hedge funds aggressively go after companies with the intent of unlocking value which would theoretically improve share performance. It's a model you can say has benefits and works. Unfortunately, we don't have a model that works when a company does something really fucking stupid like Equifax and Wells Fargo. Do we give an Elizabeth Warren, and an oversight committee the ability to wield more power to effect change like an activist investor could do? Slippery slope?

-- Modified on 10/4/2017 10:31:03 AM

and I don't want Government "meddling" in private business, but "meddling" and providing oversight are two completely different things.  

 
There are certain things that Government is tasked with doing for the public, getting the garbage picked up, providing for the common defense AND providing oversight where it comes to business are just some of the things we expect Government to do for us.  

 
I believe in giving credit where credit is due, and in her "wheelhouse" I will begrudgingly acknowledge that Warren does have a pretty good grasp. But what bothers me is the very distinct possibility that she could parlay that into the Presidency where she would be completely out of her element and even a bigger disaster than Bernie Sanders would be. I do have to agree with her though that until the people at the top have more than their jobs to lose, the rewards outweigh the risks for companies like Wells Fargo and Equifax to run amok, and in the case of Equifax, it would be a travesty if they were allowed to actually profit from their negligence. Some smart person is going to look at this and think, "what if we just did something like this on purpose?" I agree with Warren that until heads really roll, nothing is going to change, but I fear that keeping her on the front page could fuel momentum for a all out run in 2020

gave Elizabeth a couple of well deserved kudos. Did that pass over your head?  Personally, I would have actually crucified the ex-CEO in public, but that's just me. He made my life more complicated by his and his team's incompetence.

In fact, I'm going to give Elizabeth another kudo. To be fair, I don't know all of the new rules/regulations imposed by the CFPB, but I will say the website is well laid out, very informative, easy to read, and actually a site people should bookmark.  

Now here is the problem, you, me GaG, Jake, maybe a couple of others here on the board know already know most of the info on the website. Most of it is common sense stuff. Unfortunately, the audience that really needs to read this, WON'T, or CAN'T. It's the same people that got fucked right before the last recession. I don't think government can protect people 100% from being stupid, or companies taking advantage of those same stupid people.

is Tom Petty really dead?..

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