Elizabeth Warren: Taxpayer Funded Bailouts
on Tuesday, December 16, 2014Elizabeth Warren Money Quotation warning of omnibus spending bill language that allows derivatives trading by banks and requires government bailouts to cover losses. Elizabeth Warren said:
“This legal change could trigger more taxpayer (funded) bailouts and could ultimately threaten our entire economy – but it will also make a lot of money for Wall Street banks” — Elizabeth Warren
Share the Elizabeth Warren Money quote image above on your site:
Short Link to this Quote:
In this quote, Elizabeth Warren is criticizing a proposed legal change that she believes could increase risks to the financial system and economy. She argues that it could lead to more bank bailouts that are ultimately paid for by taxpayers. At the same time, Warren notes that while the change may threaten stability, it would profit the large Wall Street banks.
The quote conveys Warren’s view that the policy in question unfairly benefits the interests of big banks over those of average taxpayers and the economy. She implies the banks are prioritizing short-term financial gains over potential long-term systemic risks that may require further public funds to address if another crisis occurs.