Tuesday, July 23, 2013
Senator Warren Shows Why She Should Be Our Next President
CNBC made the mistake of inviting the junior senator from Massachusetts to defend the bill that she and John McCain are proposing that would impact the Wall Street banks. The bill would restrict FDIC deposit insurance to banks that use deposits to make loans. Investment banks that engage in riskier speculations, like those that caused the global financial crisis, would not have access to FDIC insurance. The bill is a small step in the right direction that would make the financial system more stable. The mistake that CNBC, which is generally a platform that advocates for Wall Street, made is that they picked an argument with the wrong senator. She showed that she is much more knowledgeable than the talking heads that CNBC employs to advocate for Wall Street. It was almost embarrassing to watch her destroy them.