Tag: Warren

Links 12/22/16

Consumer Financial Protection Bureau:

The CFPB has recently become “one of Washington’s most powerful and pugnacious regulators,” as The New York Times reported last month:

The bureau has overhauled mortgage lending rules, reined in abusive debt collectors, prosecuted hundreds of companies and extracted nearly $12 billion from businesses in the form of canceled debts and consumer refunds. In September, it exposed the extent of Wells Fargo’s creation of two million fraudulent customer accounts, igniting a scandal that provoked widespread outrage and toppled the company’s chief executive.

Minimum Wage:

Childhood Poverty:

Inequality:

The wealthy didn’t always take such a big share of the proverbial “pie.” In the 1970s, a decade generally seen as fairly prosperous, the top 1% of Americans earned just over 10% of all U.S. income (i.e. the “pie”).
Over time, the rich became more lucky — or more greedy. Today the top 1% take home more than 20% of all U.S. income.
As the wealthy earned more, someone else in America had to get less. The bottom 50% went from capturing over 20% of national income for much of the 1970s to earning barely 12% today.
The turning point started around 1980, as seen in the graph below. By the mid-1990s, the fortunes of the top 1% were clearly on the rise and those of the bottom half were declining rapidly.

It’s time for the bottom 50% to take back their fair share.

White Collar Crime:

Trade:

Labor:

Policy:

Healthcare:

Clinton Lost Because of Her Inability to Gauge the Public Mood on the Economy

By all accounts, this election was Hillary Clinton’s to lose. Although James Comey’s decision to violate the Hatch Act and try to swing the election certainly didn’t help Clinton, the real reason she lost was her inability to gauge the public mood and adapt to it.

Her support of NAFTA and the Trans Pacific Partnership angered voters who were seeing their jobs shipped overseas. Although Clinton solidly won all three presidential debates, the best criticisms that Trump landed in those performances were regarding trade.

Clinton’s pledge to not add a penny to the national debt, although austerity has been a disaster for the working class, also showed how tone deaf her campaign was.

The Democratic Party will need to start listening to leaders like Elizabeth Warren and Bernie Sanders, both popular, charismatic figures with a much better grasp of what really matters to the American people, if they want to regain the offices they have lost.