Democratic presidential hopeful Sen. Elizabeth Warren (D-MA) on Thursday on ABC’s “The View” accused former New York City Mayor Michael Bloomberg of blaming “the financial crash on African Americans and Latinos who bought homes.”
Warren said, “I am a capitalist, I believe in markets. Now I believe in markets with regulations. So, for example, I was one of the people out there ringing the alarm bell as loud as possible over the deregulation of the banks that ultimately let them target communities of color, target senior, target military members in order to sell them the worst of the worst mortgages and then finally spread them throughout this country. We needed banking regulators who were on the job. Now Mayor Bloomberg was busy blaming the financial crash on African Americans and Latinos who bought homes. That’s how he looks at the economy.”
She added, “The idea that somehow the billionaire who figured out how to suck wealth out of every community and help the rich get richer and shut up the voices of anyone along the way that he stepped on, that that is what capitalism is and that nobody else gets to be a capitalist if what you are trying to do is make these markets work for human beings.”
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