Sen. Elizabeth Warren delivered a game-changing speech on the Senate floor on Friday.
On Friday, Warren took to the floor at the end of her fight to prevent a Wall Street giveaway from being included in the spending bill that was passed the same night. Warren was defeated in her efforts, but that didn’t stop her from slamming the giveaway and one Wall Street heavyweight in particular, Citigroup.
“Enough is enough with Wall Street insiders getting key position after key position and the kind of cronyism that we have seen in the executive branch,” Warren said. “Enough is enough with Citigroup passing 11th hour deregulatory provisions that nobody takes ownership over but everybody will come to regret. Enough is enough.”
As the Huffington Post reported, Citigroup was the recipient of a half trillion-dollar bailout, which they used to essentially “buy Congress and make it more likely they'll be bailed out again.” The bailout of the financial giant led to the major economic decline that followed and cost millions of taxpayers their livelihood.
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“Democrats don't like Wall Street bailouts. Republicans don't like Wall Street bailouts. The American people are disgusted by Wall Street bailouts,” Warren’s speech read. “And yet here we are, five years after Dodd-Frank with Congress on the verge of ramming through a provision that would do nothing for the middle class, do nothing for community banks, do nothing but raise the risk that taxpayers will have to bail out the biggest banks once again…
So let me say this to anyone who is listening at Citi. I agree with you. Dodd-Frank isn't perfect. It should have broken you into pieces.” Warren’s searing speech went so far as to call out Citigroup execs that have worked in the Obama administration by name.
Many have praised Senator Warren for the passionate speech, with some likening it to President Obama’s 2004 keynote speech at the Democratic National Convention that has often been attributed to his eventual presidential run and victory. Democrats are already urging Warren to run for President in 2016, but she continues to do insist she has no interest in doing so at this time.
Here is the full speech:
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Source: Huffington Post / Photo Credit: motherjones.com, ibitimes.com