U.S. Sens. Markey and Warren urge the Obama administration to block Comcast’s proposal for a$45.2 billion acquisition of Time Warner Cable, saying the merger is bad for consumers.The lack of competition will only “make things worse” for consumers already frustrated by increasingly high cable and Internet bills. In a letter to Attorney General Eric Holder and FCC Chairman Tom Wheeler:
Today’s world demands affordable access to high-quality Internet and TV services. Should the transaction survive the FCC’s and DOJ’s reviews, we believe that Comcast-TWC’s unmatched power in the telecommunications industry would lead to higher prices, fewer choices, and poorer quality services for Americans.
Warren introduces legislation to prevent employers from considering an applicant’s credit history in the hiring process. She believes credit screening establishes unnecessary roadblocks for poor people seeking lucrative employment.
This is about basic fairness — let people compete on the merits, not on whether they already have enough money to pay all their bills.
Many Americans with negative credit reports face unjust discrimination and Warren, along with Senate Democrats, cites studies that indicate that poor credit history is not indicative of character or job performance.
Warren writes Wall Street CEOs calling for the disclosure of any contributions their companies are making to think tanks. The senator, who the centrist Democratic think tank Third Way accuses of economic populism, tell J.P Morgan Chase, Wells Fargo, Bank of America, Goldman Sachs, Citigroup and Morgan Stanley:
If the information provided by think tanks is little more than another form of corporate lobbying, then policymakers and the public should be aware of the difference.
Warren, with co-sponsors John McCain (R-AZ) and Maria Cantwell (D-WA), introduces bill, which reduces the risk of another financial crisis and decreases risk to the American taxpayer.
Despite the progress we’ve made since 2008, the biggest banks continue to threaten the economy. The four biggest banks are now 30% larger than they were just five years ago, and they have continued to engage in dangerous, high-risk practices that could once again put our economy at risk.
The 21st Century Glass Steagall Act breaks up big banks by separating traditional retail banking (checking, savings) from riskier banking activities including swaps dealing as well as private equity and hedge fund activity.
The senator elect emails supporters a request to get her out of the red. She says the $42 million raised during the campaign falls short and cites unforeseen costs related to the surge of last minute volunteers and voters who needed rides to the polls.
But one of the results of our embarrassment of riches was, well I’ll come out and say it — we ended up with a little bit of debt.
A campaign aide says the outstanding debt is less than $400,000.
Warren gives her thoughts on the Obama financial bailouts:
You know, without restrictions, no. So I’m going to put it this way: It was clear something had to be done. The part that I was just beside myself over was the lack of accountability. I mean accountability in every meaning of that word: how the money would be given out, whether or not the banks would be accountable for it. Go back and look at that first report, because that’s what that first report is about. I could not believe that, that the treasurer of the United States government was shoveling money out the door to the nine largest financial institutions on a no-questions-asked basis…. And in some ways it was worse than that, because it not only had no restrictions to speak of, it had no restrictions in the statute — it was a bait-and-switch.
Republican incumbent U.S. Sen. Scott Brown and Democratic rival Elizabeth Warren spar on tax policy, Iran’s nuclear ambitions and Warren’s heritage. Brown begins:
She checked the box claiming she is Native American, and clearly she is not.
Warren counters that her parent told her she is partly Cherokee and Delaware and that she has no reason to question them. She points to a series of Brown votes in the Senate that she says show he sided with big oil companies and held tax cuts for the middle class hostage to give tax cuts to millionaires. He responds that of the two candidates in the race, only one supports higher taxes, and that’s her. Warren points to a Brown vote in favor of a proposed amendment that would allow employers to deny insurance coverage for birth control. Brown says he supports women’s access to birth control but is trying to protect the religious concerns of Roman Catholics. The church opposes birth control. Polls show a close contest in the most expensive campaign in Massachusetts political history.
Affleck hosts his first political fundraiser for senate candidate Elizabeth Warren and tops $250,000 in donations. Jennifer Garner, Reese Witherspoon, Tobey Maguire,Writers Guild president Chris Keyser, Steven Spielberg and Sally Field are among the attendees at J.J. Abrams’ Bad Robot production studio in Santa Monica. The event called “A Massachusetts Evening”, co-hosted by Matt Damon and John Krasinski, is seeing donations ranging from $1,000 to $1,500 per person.
The Service Employees International Union (SEIU) endorses Warren for U.S. Senate. SEIU, which is one of the largest labor organizations in Massachusetts, represents more than 75,000 healthcare and social workers, security officers, janitors and other workers. Veronica Turner, the Executive Vice-President of SEIU Local 1199, says:
It is time to reclaim the people’s seat. SEIU members, like hardworking voters across the state, want a senator who will put the 99 percent first, believes every American deserves a good job to support their family and shares our vision that our country is better when we all do better. Elizabeth Warren will be that senator.
Obama names Harvard law professor Elizabeth Warren to oversee the creation of a new consumer financial protection bureau.
She is one of the country’s fiercest advocates for the middle class. She will oversee all aspects of the bureau’s creation and play a pivotal role in picking her successor.
The decision to name Warren to this temporary job is widely seen as a compromise aimed at avoiding a potentially bruising Senate confirmation.
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