Warren Predicts New Crash If Dodd-Frank Reform Passes

Mar 09, 2018

Although she insists that she is not running for president in 2020, Sen. Elizabeth Warren (D-MA) is the leading candidate in a Suffolk University poll of New Hampshire Democrats eyeballing the next race for the White House

Sen. Elizabeth Warren (D-MA) is insisting that the passage of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, will lead to another Great Recession within a decade.

According to a Washington Examiner report, Warren used a Senate floor speech to warn of pending doom and gloom.

“I will make a prediction,” Sen. Warren said. “This bill will pass. And if the banks get their way, in the next 10 years or so, there will be another financial crisis.”

Earlier this week, the Senate voted 67-32 to end debate on a motion to proceed with the bill, which is designed to roll back some of more onerous aspects of the Dodd-Frank Act. Seventeen Democrats voted in favor of this motion, which infuriated Warren, who has tried start a social media movement by calling the bill #BankLobbyistAct on Twitter.

However, Warren admitted that her vocal opposition to the legislation is creating ill-will with her colleagues. “Since I called out some of my Democratic colleagues for their support, I’ve been taking heat from fellow Democrats,” she wrote in an op-ed for Medium. “I get it — no one likes to be criticized, let alone by someone on their team.”

About the author

Phil Hall

Link copied

Published

Mar 09, 2018

Industry News

UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Just weeks after allegations against United Wholesale Mortgage (UWM) were published in an exposé-style report and a class action lawsuit, Hunterbrook Media is once again putting the Michigan lender under the spotlight. On Thursday, the hedge-funded media company published...

Analysis and Data

Homebuying Excitement Is Up Among Veterans

Survey results indicate optimism about housing market among U.S. veterans and service members

Our nation’s heroes are increasingly optimistic about buying homes, new research indicates. The amount of veterans and service members who plan to purchase a home in the next six months was up by 15 percentage points year-over-year, according to the Veterans Homebuying Re...