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Warren: Dodd-Frank isn’t perfect; it should have broken you into pieces

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Mortgage Professional America | 17 Dec 2014, 08:46 AM Agree 0
The outspoken lawmaker isn't thrilled about a provision in a spending bill that the House passed last week, but she saves most of her criticism for one Wall Street giant.
  • Cheryl M | | 17 Dec 2014, 09:40 AM Agree 1
    Wow Ms Warren, your true colors....there they are. As I've said in the past your words will come back to bite you in the a%&. Spoken like a true soviet leader. Voters are trying to get rid of people like you in Congress. You really think "bring you down," were words voters want to hear from a Senator? Can you say "go back to private practice and get out of politics?" That's where you need to go Ms. Warren.
  • Jason | | 17 Dec 2014, 09:45 AM Agree 0
    I love Elizabeth Warren, and she is absolutely right on this point. In wake of the Great Recession the banking industry has actually consolidated to create even large 2 Big 2 Fail entities and they are now working hard to codify the next tax payer bailout into law.
  • MKR | | 17 Dec 2014, 12:05 PM Agree 0
    Instead of enriching the big banks, how about rolling back some of the ridiculous (broker aimed) restrictions and regulations on owner-occupied purchase transactions? Or at least make it a level playing field by requiring ALL lenders (banks, credit unions, etc) and brokers to disclose all (front/back transaction) income and play by the same rules.
  • Businessman | | 17 Dec 2014, 12:06 PM Agree 0
    It's just too bad that Ms Warren doesn't have any more understanding of what Dodd Frank has done to American Consumers than the fact that she is NOT a native American! Dodd Frank has driven up the cost of consumer credit and has limited the competition allowing big banks to charge more fees and higher rates. We have also created another government entity with almost no oversight that just spent nearly $80,000 PER EMPLOYEE to lavishly renovate their new headquarters at a cost of nearly $100 Million and they aren't through yet. Smaller lenders who typically provide borrowers with the best and lowest cost mortgages are being forced out due to the excessive reporting and regulations while the biggest of the lenders just pass the costs on to consumers and get bigger. But hey Ms Warren, I guess that favorite saying of yours, that YOU didn't build that $100 Million dollar monstrosity works well when you're trying to hide behind the BS as well. This is what you get when you have educators who have never had to run any kind of business suddenly have some power and think they know everything...
  • Nancy V | | 17 Dec 2014, 12:13 PM Agree 0
    Cheryl M I totally agree. Dodd Frank just made the banks get bigger which she had her hands in. She would love to see the Broker disappear for good. With risky mortgages gone, I think she protests too much. She would like nothing better than the government to take over the banking industry completely and for that matter ALL industry. When will people wake up to the call of the socialist to see what it really means.
  • piss off mortgage broker | | 24 Dec 2014, 12:23 PM Agree 0
    frank dodd is a dud...no financial educated banker or broker would subscribe to their heavy handed jack boot thug methodology of crushing the ability for the honest mortgage brokers who uphold their clients to high standards already to avoid losing their license and livihood to support their family
  • piss off mortgage broker | | 24 Dec 2014, 12:24 PM Agree 0
    frank dodd is a dud...no financial educated banker or broker would subscribe to their heavy handed jack boot thug methodology of crushing the ability for the honest mortgage brokers who uphold their clients to high standards already to avoid losing their license and livihood to support their family
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