A Quote by Elizabeth Warren
If you don't talk about families, then it's easy to disembody subprime mortgages and asset securitization and unemployment rates without remembering that every one of those numbers is a million families.
Quote Topics
Quote Author
Related Quotes
Congress has turned its back on America's working families. There are Teamster families in every congressional district in America, and those families vote. Those who would oppose these families have done so at their own political peril.
Financial innovation can be highly dangerous, though almost no one will tell you this. New financial products are typically created for sunny days and are almost never stress-tested for stormy weather. Securitization is an area that almost perfectly fits this description; markets for securitized assets such as subprime mortgages completely collapsed in 2008 and have not fully recovered. Ironically, the government is eager to restore the securitization markets back to their pre-collapse stature.
Democrats have always historically referred to our families as working families, and I have sort of changed that moniker. I think what we have is a nation of worried families - families that are concerned about job security, families who thought their pensions were secure and now have questions.
Subprime mortgages, typically defined as those issued to borrowers with low credit scores, make up roughly the riskiest one-third of all mortgages.
The average net worth of the lower half of the distribution, representing 62 million households, was $11,000 in 2013. About one-fourth of these families reported zero wealth or negative net worth, and a significant fraction of those said they were "underwater" on their home mortgages, owing more than the value of the home. This $11,000 average is 50 percent lower than the average wealth of the lower half of families in 1989, adjusted for inflation.
We urgently need a debate about the best ways of supporting families in modern America, without blinders that prevent us from seeing the full extent of dependence and interdependence in American life. As long as we pretend that only poor or abnormal families need outside assistance, we will shortchange poor families, overcompensate rich ones, and fail to come up with effective policies for helping families in the middle.
Very much in my books people find not surrogate families because they are real families. We've got families that we're related to by blood but we've also got families that we acquire. And those too I think are pretty much part of my books.
I had begun to worry about the housing market back in 2003, when lenders first resurrected interest-only mortgages, loosening their credit standards to generate a greater volume of loans. Throughout 2004, I had watched as these mortgages were offered to more and more subprime borrowers - those with the weakest credit.
I belong to a bowling team with black and Latino coworkers. And when we get together and we talk about politics - I'm almost quoting him - he said, we don't talk about Black Lives Matters. We talk about what matters to our families. We talk about jobs, and we talk about the fate of the country. That is America, and you can reach those people.
The ultra-right would have us believe that families are in trouble because of humanism, feminism, secular education, or sexual liberation, but the consensus of Americans is that what tears families apart is unemployment, inflation, and financial worries.
What do you think this very difficult situation will push? Especially in the hearts of those who are facing the starvation, facing the unemployment, facing this siege, facing the tragedy of their families - the poverty of their families. Some of them, they didn't find food to eat. What do you expect from them? In spite of death, our people are still patient. But patience has limits.
Let's face it: families behind closed doors are the funniest thing ever - the way people talk to each other, the way you fight for 30 seconds, and then all of a sudden you're crying. Families are just ripe for comedy.
All women need support when they're having their babies and their little families are in formation. I have to say I have a lot of concern about the numbers of women - and men, now - who are not getting the support that they need. There are not the families and the communities around that there used to be.
Low unemployment numbers are clear indicators that Republican tax relief and economic policies are spurring growth and helping businesses hire new workers while providing American families with job security.
The fact is every single day in the ordinary American people, America's families have to make decisions about their families and that should be made by them, not by the Texas or United States.
I relate with military families and Gold Star families. Gold Star families are families where somebody didn't come home. My father died in 1949. He was a flight instructor in the Army Air Corp.
Related Authors
Andrew Yang Quotes
American
Public Servant
Ben Bernanke Quotes
American
Public Servant
David Frum Quotes
American
Public Servant
Henry Paulson Quotes
American
Public Servant
James Comey Quotes
American
Public Servant
Janet Reno Quotes
American
Public Servant
Janet Yellen Quotes
American
Public Servant
Karren Brady Quotes
British
Public Servant
Michael Hayden Quotes
American
Public Servant
Mohammed Saeed al-Sahaf Quotes
Iraqi
Public Servant
Paula White Quotes
American
Public Servant
Samantha Power Quotes
Irish
Public Servant
Scott Gottlieb Quotes
American
Public Servant
Steve Bannon Quotes
American
Public Servant
Vivek Murthy Quotes
American
Public Servant
Wendy Kopp Quotes
American
Public Servant