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Election 2020
Slideshow

'Enough with the scare tactics': Comments of the week

ByRachel Witkowski
October 31, 2019 9:00 PM

Readers react to Sen. Warren's plan to weed out Washington corruption, Facebook CEO Mark Zuckerberg's testimony before Congress, restricting the Federal Reserve's proposed real-time payments system and more.

Sen. Elizabeth Warren
Senator Elizabeth Warren, a Democrat from Massachusetts and 2020 presidential candidate, speaks during the American Federation of State, County & Municipal Employees (AFSCME) Public Service Forum in Las Vegas, Nevada, U.S., on Saturday, Aug. 3, 2019. Democratic presidential hopefuls attended the Public Service Forum to discuss their economic plans for working families, union employees and public workers. Photographer: Jacob Kepler/Bloomberg
Jacob Kepler/Bloomberg
On Democratic presidential candidate Sen. Elizabeth Warren calling for restrictions on senior government officials who later accept related roles at big corporations:

"The main reason former government employees are recruited by the private sector is because they understand the byzantine laws and regulations that govern the particular industry . . . Enough with the scare tactics and that the system is rigged narrative. "

Related: Warren singles out U.S. officials for moving to C-suite jobs
An attendee looks at a mobile phone while walking under a Facebook logo in the demonstration room during the F8 Developers Conference in San Jose, California, on April 30, 2019.
An attendee looks at a mobile phone while walking the demonstration room during the F8 Developers Conference in San Jose, California, U.S., on Tuesday, April 30, 2019. Facebook Inc. unveiled a redesign that focuses on the Groups feature of its main social network, doubling down on a successful but controversial part of its namesake app and another sign that Facebook is moving toward more private, intimate communication. Photographer: David Paul Morris/Bloomberg
David Paul Morris/Bloomberg
Another reader reacts to Warren's plan to restrict and fine senior government officials who eventually take on similar roles at big companies like Facebook and Wells Fargo:

"Isn’t this just swell. Socialists like Sanders and Warren . . . want to either restrict others from leveraging their experience to their financial benefit or, worse, take away from us what wealth we do accumulate via a confiscatory tax."

Related: Warren singles out U.S. officials for moving to C-suite jobs
Mark Zuckerberg
Mark Zuckerberg, chief executive officer and founder of Facebook Inc., waits for the start of a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, Oct. 23, 2019. Despite spending record amounts of money to influence Washington policy, Facebook's efforts to ingratiate itself so far have done little to assuage policy makers' privacy and antitrust concerns and in some cases have even made the company's challenges worse, according to first-hand accounts of its efforts. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
On criticisms about Facebook CEO Mark Zuckerberg's testimony before Congress, as he was expected to defend the social media giant's planned crypto, Libra:

"Don't believe the hype, lots of holes in the libra story." PERSONTK, via Twitter

Related: Don’t buy what Zuckerberg’s selling on Libra
Fed Chairman Jerome Powell
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, July 31, 2019. The Federal Reserve reduced interest rates for the first time since the financial crisis and hinted it may cut again this year to insulate the record-long U.S. economic expansion from slowing global growth. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
On a community banker pleading with policymakers not to restrict the Federal Reserve from launching its real-time payments system, FedNow:

"Thank you. Well said!"

Related: Payments system and community banks need FedNow
recession-adobe-89594175.jpg
On federal regulators proposing to eliminate the initial margin requirement for certain derivatives trading:

"This deregulatory gift is worth $40 billion to Wall Street’s largest banks. The 5 largest U.S. banks alone conduct 90% of domestic derivatives dealing and would benefit the most." Better Markets, via Twitter

Related: Don’t mess with rules curbing derivatives risk
Rachel Witkowski
Tech reporter, Financial Planning
Election 2020 Law and regulation Corporate governance Real-time payments Elizabeth Warren Facebook Federal Reserve Cryptocurrency
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