Warren blasts Trump for being ‘excited’ over housing collapse

by Ryan Smith26 Jul 2016
Sen. Elizabeth Warren blasted Republican presidential nominee Donald Trump Monday for comments he made in the wake of the housing collapse. Warren accused Trump of being “excited” about the meltdown.
According to a report in the Cleveland Plain Dealer, Warren (D-Mass.) said Trump valued his own financial success over other people’s wellbeing.

“His whole life has been about taking advantage of that rigged system,” Warren said in a speech at the Democratic National Convention.

“…Look at his history. Donald Trump said he was excited for the 2008 housing crash that devastated millions of American families, because he thought it would help him scoop up more real estate on the cheap.”
Trump did give an interview in 2007 where he expressed hope that the housing bubble was coming to an end.

“People have talking about the end of the cycle for 12 years, and I’m excited if it is,” he said. “I’ve always made more money in bad markets than in good markets.”

Trump has said that he loves bad markets many times, according to the Plain Dealer. And one piece of advice Trump University gave its students was that they could make money by investing in real estate when prices were dropping.

What do you think? Does Warren have a point, or is she simply demonizing sound business practices? Let us know your take in the comments below.

(Photo by Tim Pierce, via Flickr)



Should CFPB have more supervision over credit agencies?