Erick Erickson's Hilariously Stupid Attack on Elizabeth Warren
Photo Credit: AFP
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The rich irony of Elizabeth Warren asking her question to these regulators, whose ranks she would have joined but for a Republican effort to block her nomination prior to her Senate run, is that she is an advocate of increasing the very regulations that contributed to the financial meltdown and that prevent suits against Wall Street banks. After all, Wall Street was just complying with Washington’s orders.
In a final irony, the legislation designed to prevent this all from happening again, commonly called Dodd-Frank, has institutionalized the idea that certain banks are “too big to fail” and put smaller banks at a competitive disadvantage. More and more American assets are held by fewer and fewer banks thanks to ideas advocated by people like Sen. Elizabeth Warren.
If she wants a scalp, she should look in the mirror.
Ok. First, if she looks in the mirror she will indeed see her own scalp. When he's right, he's right.
But on the "substance" Erickson says that Elizabeth Warren is responsible for the housing crisis and the recession because she helped set up a new regulatory agency for consumers after it happened. Also too Dodd-Frank, which also came about after it happened.
Why? The government allegedly forced the banks to become gambling addicts because it insisted that they steal money from poor people and then Republican Hank Paulson forced them to take huge sums of money from the taxpayers. Because regulation. And socialism.
He's writing from his new home at Fox News, by the way.