This thing is kind of like health care. In spite of abundant evidence that Glass-Steagall worked (no bank failures for 50 years – approximately ’33 to ’83), those enjoying the fruits of today’s perverse versions of capitalism and finance, who are dedicated to making money with money (making things is so yesterday), will not tolerate anything resembling a reinstatement of that law. And they will win.
Here’s a People’s Warrior on CNBC facing the conventional opposition, laced with a bit of hostile mockery. This video was viral a few days ago, until it briefly disappeared because CNBC filed a copyright claim against, I believe, the Senator. Ahem?
That is what brought this video to the attention of the fine folks at Upworthy. They note that “It gets amazing at 2:08. At 3:42, she uses their words against them. And at 4:39 [it really rocks].”
Listen to her ‘splain it all – clearly, simply and confidently.
You can have wealth concentrated in the hands of a few, or democracy. But you cannot have both.
Whatever Works 
I hadn’t seen hat clip. Thanks for posting it. She is my hero.
LikeLike
She’s a hero alright Elyse – and they’ll never get her frazzled, which is one of the most appealing things about her. Good old steady-as-she-goes Elizabeth.
LikeLike
She’s a self-serving idiot, not a hero. She might be hero if she could and would do any good but she can’t and never intended to. This was just bullshit to start the march for the 2014 elections. Gotta get that rabble roused now and the White Squaw is just the one to do it.
Now, don’t get me wrong; most of the restrictions in Glass-Steagall NEVER should have been relaxed, despite the fact that we got years of accelerated growth out of doing so, because I crash HAD to follow the boom. Yet we can’t go back without totally collapsing what’s left of our economy.
By that I mean really go back and really re-implement Glass-Steagall. Sure we could break the banks up on paper and make the anti-banker crowd happy, but it wouldn’t be real.
LikeLike
Please do explain jonolan what makes her an idiot? And perhaps you can tell me how you know that she never intended to do any good?
LikeLike
She’s an idiot because she thinks that most people will believe that she even wants to really do anything about much less could do so. Only a few rabid anti-bankers types are going to really latch onto that little speech as anything other political propaganda.
As for why she’ll never do anything about it – It’d hurt her own bottom line way too much and that of her major political donors and it’d be political suicide to attempt to do that much damage to the current economy anyway.
As I said before, we never should have weakened most of Glass-Steagall but we did and then rebuilt the economy around those changes. We can’t go back until we really, really, really have a total collapse…because trying to will cause that collapse anyway.
Some mistakes can’t be fixed.
LikeLike
Ahhh . . . you just don’t like the broad. I get it.
LikeLike
Bravo Elizabeth and Brav Moe for posting it.
LikeLike
No it’s not anonymous, it’s your sister.
LikeLike
Thanks for the clip, Moe, I hadn’t seen it either. How refreshing to see a senator expound so incisively on a subject like economics!
LikeLike
That’s probably the very thing that will make her reviled on the right – and I guess (see jonolan above) in the anarcho-libertarian world too.
LikeLike