Insurgent progressive potential presidential candidate Elizabeth Warren took aim at the Clinton legacy during a major labor summit on Wednesday.
The Massachusetts senator slammed the deregulation of Wall Street under former President Bill Clinton’s watch and dismissed his contention that the “era of big government” was over, according to video obtained by America Rising.
“Pretty much the whole Republican Party, and if we’re going to be honest too many Dems, have talked about the evils of Big Government and called for deregulation,” Warren told the AFL-CIO Summit on Raising Wages.
Clinton oversaw the repeal of the core of the Glass-Steagall Act, allowing financial institutions to operate as investment, insurance, and commercial banking operations. Warren blamed the withdrawal of such financial regulations for the 2008 market crash and economic recession.
“It all sounded good but what it was really about was tying the hands of regulators and turning loose big banks and giant international corporations to do whatever they wanted to do: turning them loose to rig the market and reduce competition; turning them loose to outsource more jobs; turning them loose to load up on more risks and then hide behind taxpayer guarantees; turning them loose to sell more mortgages and credit cards that cheated American families,” Warren said.