Elizabeth Warren Profile picture
Mar 13, 2018 10 tweets 6 min read Twitter logo Read on Twitter
The #BankLobbyistAct will roll back rules on 25 of America’s 40 biggest banks. Combined, they got nearly $50 billion in taxpayer bailouts after the 2008 financial crisis – and they’re back to making record profits.
SunTrust Bank got $4.85B in taxpayer bailouts after the financial crisis. It’s recovered pretty well. It controls $206B in assets and has a MLB stadium named after it. But the #BankLobbyistAct could regulate @Suntrust as if it were a small community bank.
BB&T Corporation has over 2,000 branches across the country and controls $221 billion in assets. It received $3.13 billion in taxpayer bailouts during the 2008 crash. But the #BankLobbyistAct could apply the same rules to @BBT as your neighborhood community bank.
Fifth Third Bancorp got $3.4 billion in taxpayer bailouts during the 2008 financial crisis and has more than 1,100 branches. But if the #BankLobbyistAct passes, @fifththird could get the same amount of federal oversight as your local community bank.
Keycorp is doing pretty well these days – it made almost $1.3 billion last year. That’s a lot of growth since the 2008 crash, when it got $2.5 billion in taxpayer bailouts. But the #BankLobbyistAct could regulate KeyCorp as if it were a small community bank.
Regions Financial Corporation has about 1,500 branches and 1,900 ATMs. It also got $3.5 billion in taxpayer bailouts during the 2008 crash. If the #BankLobbyistAct passes, @askRegions could get the same level of federal oversight as a small community bank.
Huntington Bancshares Incorporated got $1.4 billion in taxpayer bailouts during the financial crisis. But the #BankLobbyistAct could apply the same rules to @Huntington_Bank as your local community bank.
Comerica Incorporated controls about $72 billion in assets today & has naming rights to a MLB stadium – but taxpayers spent $2.25 billion bailing it out during the 2008 financial crisis. And the #BankLobbyistAct could regulate @ComericaCares as if it were a tiny community bank.
Zions Bancorporation got $1.4 billion in taxpayer bailouts during the financial crisis. But last spring the CEO begged to be taken off the government watch list. He got his wish – the #BankLobbyistAct could apply the same rules to @ZionsBank as your local community bank.
These aren't “community banks” – these are huge financial institutions that wrecked out economy in 2008 & sucked down about $50 billion in taxpayer bailouts. The #BankLobbyistAct takes them off the watch list & puts us at risk for another financial crisis.theintercept.com/2018/03/02/cra…

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Elizabeth Warren

Elizabeth Warren Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @SenWarren

Oct 3, 2018
Exhibit #237 of why anyone running for federal office should have to disclose their tax returns. Congress needs to pass my legislation to #EndCorruptionNow, which would force candidates (and @realDonaldTrump) to make their tax returns public. nyti.ms/2P6S6mK?smid=n…
.@realDonaldTrump was the 1st presidential candidate in 40 years not to make his tax returns public. Maybe because he got over $400M from his dad to start out & probably committed tax fraud. @nytimes’ reporting is likely just the tip of the iceberg – what else is he hiding?
If @realDonaldTrump was willing to go to such incredible lengths to hide how he really “made” his fortune – what’s stopping him now from bilking the presidency and American taxpayers for everything they’re worth?
Read 6 tweets
Sep 25, 2018
Rural housing in the US is falling apart. Decades of federal discrimination have excluded generations of Blacks from homeownership. Housing costs for everyone, everywhere, are skyrocketing – while America's wealthiest families shield billions from taxes. I have a plan to fix it.
I’m introducing the American Housing & Economic Mobility Act to build 3 million new homes in 10 years, bring down monthly rents by 10%, & create 1.5 million jobs. By asking 10k of the richest families to pay their fair share, it doesn’t add to the deficit. warren.senate.gov/imo/media/doc/…
My new bill:
✅Makes record investments to build homes including in rural areas.
✅Gets localities to scrap zoning rules that make housing more expensive.
✅Helps first-time homebuyers in formerly redlined areas.
✅Offers relief to families still struggling after the 2008 crash.
Read 4 tweets
Sep 3, 2018
On the eve of Labor Day weekend, only days before the start of Brett Kavanaugh’s hearing, @realDonaldTrump announced he would stop the Senate from reviewing over 100k pages of Kavanaugh’s records from the White House Counsel’s Office. #WhatAreTheyHiding nyti.ms/2Caj0s4?smid=n…
.@realDonaldTrump's 11th hour move to hide Brett Kavanaugh’s record is unprecedented. When Justice Kagan was nominated, NONE of her WH records were withheld because of executive privilege. So what's in these documents? And why is Trump so eager to bury them? #WhatAreTheyHiding
The Constitution directs the Senate to provide advice and consent on all judicial nominees. We cannot effectively fulfill that duty when @realDonaldTrump refuses to disclose Kavanaugh's record. Senate Republicans know this, too – they just don't care. #WhatAreTheyHiding
Read 5 tweets
Aug 26, 2018
John McCain was fiercely devoted to his family, his constituents, and his country. My heart goes out to his family and loved ones during this difficult time. As a nation, we all share in the sense of emptiness his passing has left behind.
John McCain and I disagreed on many things, and sometimes quite forcefully. But even when we disagreed, I always respected that his heart was focused on doing what he thought was best for the American people.
Democrat or Republican, foreign leader or President of the US, John McCain would go toe to toe with anyone to fight for what he thought was right. At a time when character & integrity are under siege, we all mourn the loss of a public servant who lived with courage & conviction.
Read 4 tweets
Aug 21, 2018
Corruption in Washington isn’t a small problem – and we can’t fight it with small solutions. I’m about to unveil my legislation to #EndCorruptionNow and put a stop to it once and for all. Watch live here:
Our government systematically favors the rich over the poor, the donor class over the working class, the well-connected over the disconnected. This is deliberate, and we need to call it for what it is – corruption, plain and simple. #EndCorruptionNow
Today, I’m introducing the most ambitious anti-corruption legislation proposed in Congress since Watergate. This is an aggressive set of reforms that would fundamentally change the way Washington does business. #EndCorruptionNow
Read 21 tweets
Aug 16, 2018
My big new bill, the Accountable Capitalism Act, would restore the idea that big American companies should look out for their workers, not just their shareholders. Why do we need to pass this bill? Just look at what’s happened since the #GOPTaxScam passed. vox.com/2018/8/2/17639…
The #GOPTaxScam showered more than a trillion dollars on big American corporations – a huge windfall for wealthy shareholders and executives. But workers have seen their real wages go DOWN. washingtonpost.com/news/wonk/wp/2…
Let’s look at some individual companies: @WellsFargo got a $3.4 billion boost from the #GOPTaxScam. It turned around and announced plans to close 900 branches, while rewarding executives and shareholders with tens of billions of dollars in stock buybacks.
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!


0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy


3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!