Elizabeth Warren talks about financial crisis and Lehman Brothers collapses



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Warren, who gained national notoriety in part through rallying cries to hold bankers responsible for the crisis, said she still wanted to break big banks.

"Oh yes, give me a chance," she said. Warren put forward his bipartisan legislation in favor of a "21st Century Glass-Steagall", which would shatter the riskier investment banking business from the more mundane banking functions such as chequing accounts and d & # 39; # 39; savings.

Warren also mentioned similar regulations in other sectors. She suggested a possible mechanism for separating Amazon's activities: its role as a platform on which companies sell their products and sales of their own products. She said that Amazon had to "choose a company or the other" because hosting other suppliers' products could give it a competitive advantage when it would decide which products to sell.

Ten years after the collapse of Lehman, part of the thinking about the crisis focused on the extent of populism in the two major US political parties. Warren described populism as speaking of "the lived experience of the workers".

She said Trump, as a presidential candidate, "has exploited real anger" at least partly fueled by the financial crisis. Warren and the Trump candidate had some similarities, including the desire to renegotiate the free trade agreements and implement a new version of Glass-Steagall.

But the senator argued that Trump did not follow his vision.

"In terms of trade, I do not think chaos is a plan," she said, referring to Trump's tariffs on major trading partners, pushing them to negotiate new deals.

Warren argued that he needed a "consistent vision" and an understanding of "who your friends are and who are not your friends". Many lawmakers have criticized the White House for targeting Canada with steel and aluminum tariffs, using a national security rationale.

She also criticized Republican tax planning and Goldman Sachs' former job, Gary Cohn, as the White House's economic advisor. "What he did is help Goldman Sachs" by helping to pass important corporate tax cuts, Warren said.

While the Democrat repeatedly opposed his vision to that of Trump, she dodged a question about a potential risk in 2020. Warren pointed out that she would be re-elected on November 6th. Democrats are likely to mount a longshot offer to return the Senate, too.

"This is an extremely important election to come in 54 days," she said.

Warren is committed to other possible candidates for 2020. JPMorgan Chase's CEO, Jamie Dimon, said Wednesday that he thought he could beat Trump in an election, before specifying quickly that he "does not show up for the presidential election".

Asked about Dimon's race on Thursday, Warren laughed.

"I do not vote for either," she said about a choice between Dimon and Trump.

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