In this passionate speech, Sen. Elizabeth Warren (D- Mass) angrily rips the 2016 Republican budget for gutting the Consumer Financial Protection Bureau and all the hard-won regulations enacted to keep a financial crisis from happening again.
“A budget is a statement of values” remarks Sen. Warren, and it’s clear from the Republican proposal where their values lie –with corporations and big business, with money and the relentless pursuit of profit at the expense of the wellbeing of the American people. It was the Bush Administration’s dismantling of financial regulations that allowed the crisis to happen in the first place, with his neo-con supporters and their corporate donors recklessly gambling and cheating the American family out of their homes and livelihoods.
President Obama and Senator Warren were the driving force behind establishing the Consumer Financial Protection Bureau and the Dodd-Frank Act, which put up barriers and oversight to protect Americans from predatory corporations. Warren explains the need to create “a single agency to stand up for American families against the biggest banks in the nation…It has forced the largest financial institutions in this country to return more than five billion dollars directly to families they’ve cheated.”
It would appear that Republicans see these crucial regulations as nothing more than impediments to profit-making. After spending the past six years blustering about the economic recovery and blaming Obama for a crisis that they were responsible for, the Republicans are back at it again, fighting tooth and nail to return Wall Street to a casino-like atmosphere. It’s clear they won’t stop until they’ve dragged America back into another Wall Street financial crisis, while squeezing every last cent out of the hard-working American people that they can.
Watch it here:
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