Tags: elizabeth warren | markets | rich | trump

Elizabeth Warren: 'I Am a Capitalist, But Markets Need Rules'

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By    |   Tuesday, 24 July 2018 04:51 PM

U.S. Senator Elizabeth Warren proclaims she is “a capitalist” who believes in “only fair markets, markets with rules.”

She outlined her beliefs in a wide-ranging interview with CNBC.

"I am a capitalist. Come on. I believe in markets,"  the Democrat from Massachusetts told the financial-news network.

“What I don't believe in is theft, what I don't believe in is cheating. That's where the difference is. I love what markets can do, I love what functioning economies can do. They are what make us rich, they are what create opportunity," she said.

"But only fair markets, markets with rules. Markets without rules is about the rich take it all, it's about the powerful get all of it. And that's what's gone wrong in America,” she said.

The U.S. senator from Massachusetts, a Democrat whose rise in national politics coincided with her work to rein in consumer abuses following the financial crisis, last month announced plans to introduce legislation to curb corporate influence in government, Bloomberg reported.

She said last month that the “sweeping anti-corruption” bill would “clean up corporate money sloshing around Washington,” prevent officials from profiting on their public service and “padlock the revolving door between government and industry."

Warren didn’t give details about the bill, which could face review by a Republican-controlled Congress. If Democrats succeed in winning back either the House or Senate in November mid-term elections, her proposals could pose greater threats to industries from big banks to pharmaceutical companies.

Meanwhile Tuesday on CNBC, she also criticized President Donald Trump on numerous fronts.

“Right now this government under Donald Trump, and under the Republicans for a long time now, has been about making government more for the richest and most powerful in the country,” Warren said.

When the Republicans are saying, "let's do a $1.5 trillion tax giveaway to billionaires and giant corporations," Democrats are saying, "whoa, whoa, whoa, if you think there's $1.5 trillion to spend, let's invest it in making health care more affordable in America, let's invest it in fighting back against the opioid crisis, let's invest it in the infrastructure," Warren said.

“What he wants to do is set working people against working people, black working people against white working people,” Warren said.

“So I see the behavior of the president is deeply problematic. He attacks our allies and cuddles up to dictators. And by attacking our allies he not only distances us from them, he also is basically teaching our allies they can get along without us," She said of the president.

"Does the dollar have to be the reserve currency? You know, that's of enormous value to America. But if you've got an unstable leader, everybody else starts to back up and say, ‘Wait a minute, I want to rethink that.’”

For his part, Trump recently said he believes the stock-market rally since his election win gives him the cushion to address the trade conflict with China and other countries.

“This is the time. You know the expression 'We’re playing with the bank’s money,'” he told CNBC.

Trump added the market would likely be much higher if he didn’t escalate the trade issues with China and the rest of the world.

“We are being taking advantage of and I don’t like it,” he said. “I would have a higher stock market right now. … It could be 80 percent [since the election] if I didn’t want to do this.”

(Newsmax wire services contributed to this report).

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Democratic Sen. Elizabeth Warren proclaims she is “a capitalist” who believes in “only fair markets, markets with rules.”
elizabeth warren, markets, rich, trump
Tuesday, 24 July 2018 04:51 PM
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