Society

Warren Attacks Bill Clinton And Bloomberg In New Book

| by Jordan Smith

Democratic Sen. Elizabeth Warren of Massachusetts will take aim at former President Bill Clinton and billionaire Michael Bloomberg in her new book due out April 18.

Extracts from "This Fight Is Our Fight" made available to the Washington Examiner suggest Warren holds Clinton partially responsible for the financial crisis of 2007.

Warren took Clinton to task for his abolition of the Glass-Steagall Act in 1999. The banking regulation was implemented during the Great Depression and separated retail and investment banking operations.

"In the same way that some Republicans had signed on for greater regulations in earlier decades, some Democrats now got on the deregulation bandwagon big-time," wrote Warren. "As he signed the repeal of Glass-Steagall, President Bill Clinton, cracked a few jokes, then praised the move for 'making a fundamental and historic change in the way we operate our financial institutions.'"

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Warren was also displeased by Bloomberg's message in a 2016 speech.

"In the spring of 2016, billionaire Michael Bloomberg climbed up to the podium at the University of Michigan to deliver the commencement address to tens of thousands of cheering students and families ... Resplendent in flowing black robes trimmed in black velvet and gold braid, Bloomberg took the opportunity to denounce those who 'fan the flames of partisanship,' and he accused both Republicans and Democrats of demagoguery," Warren added. "He scolded Republicans for blaming our problems on 'Mexicans who are here illegally and Muslims' and Democrats for blaming our problems on 'the wealthy and Wall Street.'"

Warren argued it was not fair to compare the blaming of immigrants with the blaming of the wealthy for society's problems.

"That might all be true in Michael Bloomberg's Alternative Billionaire World -- but not so much here on planet Earth," she wrote.

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Bloomberg's remarks had scared her, Warren continued, and reminded her "of two fundamental truths: the playing field isn't level, and the people at the top often don't notice that."

In addition, Warren also revealed in "This Fight Is Our Fight" that she did not run for the presidency in 2016 because of advice from her husband.

"The Senate thing was bad enough, and running for president would be worse, a lot worse," she recalled Bruce Mann telling her after she asked him his opinion, according to The Hill.

Warren's decision not to run meant Independent Sen. Bernie Sanders of Vermont was the only challenger to former Secretary of State Hillary Clinton in the Democratic primaries.

Warren is seen by observers as a potential Democratic presidential candidate for 2020.

Sources: Washington Examiner, The Hill / Photo credit: A. Shaker/VOA/Wikimedia Commons

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