“Wall Street’s nightmare: President Warren”


POLITICO

By Ben White and Maggie Haberman

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NEW YORK — There are three words that strike terror in the hearts of Wall Street bankers and corporate executives across the land: President Elizabeth Warren.

The anxiety over Warren grew Monday after a magazine report suggested the bank-bashing Democratic senator from Massachusetts could mount a presidential bid in 2016 and would not necessarily defer to Hillary Clinton — who is viewed as far more business-friendly — for the party’s nomination

And the fear is not only that Warren, who channels an increasingly popular strain of Occupy Wall Street-style anti-corporatism, might win. That is viewed by many political analysts as a slim possibility. It is also that a Warren candidacy, and even the threat of one, would push Clinton to the left in the primaries and revive arguments about breaking up the nation’s largest banks, raising taxes on the wealthy and otherwise stoking populist anger that is likely to also play a big role in the Republican primaries.

(Also on POLITICO: Report fuels prospect of 2016 Elizabeth Warren run)

Read more: http://www.politico.com/story/2013/11/wall-street-elizabeth-warren-president-2016-elections-99697.html#ixzz2kQZJrUfw

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“Elizabeth Warren wants Federal Reserve to subsidize student loans”


THE DAILY CALLER

Robby Soave

Reporter, The Daily Caller News Foundation

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Massachusetts Democratic Sen. Elizabeth Warren introduced legislation this week that would increase federal student loan subsidies by lowering interest rates for a year and funding them through the Federal Reserve.

The bill is called the Bank on Student Loans Fairness Act, and represents Warren’s solution to the student debt crisis. It would set interest rates for federally-subsidized student loans at 0.75 percent for one year.

The current interest rate is 3.4 percent, but will double on July 1st unless Congress intervenes.”  [QUOTE]

Read more: http://dailycaller.com/2013/05/10/elizabeth-warren-wants-federal-reserve-to-subsidize-student-loans/#ixzz2T53Wj4RD

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“Elizabeth Warren: Student Loans Should Have Same Rate Big Banks Get”


THE HUFFINGTON POST

william.wrigley@huffingtonpost.com

WASHINGTON — Sen. Elizabeth Warren (D-Mass.) unveiled her first bill Wednesday, designed to set student loan interest rates at the same level the Federal Reserve offers to big banks.

With some student loan rates set to double on July 1 — from 3.4 percent to 6.8 percent — Warren’s bill would reduce student loan interest rates to 0.75 percent, opening the Fed’s discount window to students.

“Every single day, this country invests in big banks by lending them money at near-zero rates,” Warren told The Huffington Post. “We should make the same kind of investment lending money to students, who are trying to get an education.”

The freshman senator said she plans to mobilize students — those most affected by student loans — to help get the bill through the Senate. “This is about their lives and if they are active in this fight, we can make this change,” Warren said.

The Fed justifies loaning money essentially for free to major banks so they can maintain liquidity during emergencies. But Warren noted that student loan debt also affects the economy. Research by the Federal Reserve Bank of New Yorkreported by Washington Post’s Wonkblog, found that the amount of student loan debt of Americans under the age of 25 has doubled in less than a decade, from $10,649 in 2003 to $20,326 in 2012. Along with this increase in student debt comes a decrease in the likelihood someone will take out an auto loan or a home mortgage. That burden is a drag on the economy.

FULL  ARTICLE

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