Elizabeth Warren’s Comprehensive Wall Street Reform Agenda

Thank goodness for Senator Elizabeth Warren, she brings serious, knowledge driven, analytical tools to the table with which she is able to debunk the Republican Party’s myth based understanding of our financial markets and the economy in general and intelligently argue for common sense regulations that will in fact make the markets more robust, in turn creating more opportunities for greater returns. It shouldn’t take genius to realize that chaos doesn’t bring success, it might through some luck strike “gold” but luck can easily turn the other way in a chaotic situation; boom and bust have become the normal since our financial industry has been deregulated and betting heavily on Lady Luck doesn’t make for sound economic decision making if you want to stay on top. Senator Warren is on point when she points out that strong regulation makes for a better economy; when there is order in the markets you can invest with confidence and the more confidence, the more investors will be willing to put into the markets. I was taught that capitalism, in order to be the most efficent and effective, needs competition; if we examine the banking industry we don’t really have any competition, we have four or five Big Banks and the threat of their insolvency hangs over us, the taxpayer, like the sword of Damocles, not a very good feeling from the little guys point of view. If we only listen and act on one thing that Senator Warren said throughout her speech, it would be to reinstate Glass-Steagal, that alone would do quite a bit to rein in unnecessary risk in the banking markets, just that one item. Bravo Elizabeth Warren for a terrific speech.

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