>>> SENATOR ELIZABETH WARREN IS CAMPAIGNING TONIGHT IN VIRGINIA,
WHICH WILL ALLOW 99 DEBTLEGATES
WHEN 14 STATES WILL VOTE.
SENATOR WARREN IS CURRENTLY
THIRD IN THE DELEGATE TOTAL.
THE PRESIDENTIAL CAMPAIGN
SWERVED INTO ONE OF ELIZABETH
WARREN’S AREAS OF EXPERTISE AS A
FARMER HARVARD LAW PROFESSOR
SPECIALIZING IN BANKRUPTCY LAW
AND THE PERSON WHO CREATED THE
CONSUMER PROTECTION BUREAU IN
PRESIDENT OBAMA’S
PRESIDENT OBAMA’S ADMINISTRATION.
ADMINISTRATION. MICHAEL BLOOMBERG, WHO IS
RUNNING FOR PRESIDENT AS A
DEMOCRAT, HAS BEEN FORCED TO
ANSWER FOR STATEMENTS HE HAS
MADE IN THE PAST, INCLUDING THIS
STATEMENT, IN 2008, IN WHICH HE
EXPLAINED THE COLLAPSE OF THE
HOUSING MARKET THAT LEFT
MILLIONS OF HOMEOWNERS AROUND
THE COUNTRY DROWNING IN
MORTGAGES ON HOMES THAT HAD LOST
THEIR VALUE.
THEIR VALUE. >> BANKS TOOK NEIGHBORHOODS AND
SAID, PEOPLE IN THE
NEIGHBORHOODS ARE POOR.
THEY WILL NOT PAY OFF THEIR
MORTGAGES.
MORTGAGES. TELL YOUR SALESMEN DON’T GO INTO
THOSE AREAS.
THOSE AREAS. CONGRESS GOT INVOLVED AND SAID
THAT’S NOT FAIR.
THESE PEOPLE SHOULD BE ABLE TO
GET CREDIT.
GET CREDIT. ONCE YOU STARTED PUSHING IN THAT
DIRECTION, BANKS STARTED MAKING
MORE AND MORE LOANS WHERE THE
CREDIT OF THE PERSON BUYING THE
HOUSE WASN’T AS GOOD AS YOU
WOULD LIKE.
WOULD LIKE. >> JOINING US NOW FROM VIRGINIA
IS ELIZABETH WARREN.
THANK YOU VERY MUCH FOR JOINING
US TONIGHT.
US TONIGHT. I WANT TO GET YOUR REACTION TO
WHAT MIKE BLOOMBERG JUST SAID
THERE ABOUT THE HISTORY OF RED
LINING.
LINING. >> RIGHT.
>> RIGHT. WHAT THE MAYOR IS REALLY SAYING
IS THAT THIS CRISIS COULD HAVE
BEEN AVERTED IF THE BANKS HAD
JUST BEEN ABLE TO DISCRIMINATE
AGAINST BLACK AND BROWN PEOPLE
MORE.
MORE. LET’S BE CLEAR, THAT WOULD NOT
HAVE AVERTED THE CRISIS.
ANYBODY WHO THINKS THAT THE
BANKS SHOULD HAVE BEEN ALLOWED
TO BE MORE RACIST SHOULD NOT BE
THE LEADER OF OUR PARTY.
>> LET ME READ TO YOU WHAT
BLOOMBERG CAMPAIGN SPOKESPERSON
HAS SAID ABOUT THIS
SPECIFICALLY.
SPECIFICALLY. THIS IS WHAT THEIR STATEMENT
SAYS.
SAYS. MIKE’S SAYING THAT SOMETHING
BAD, THE FINANCIAL CRISIS,
FOLLOWED SOMETHING GOOD, WHICH
IS THE FIGHT AGAINST RED LINING
HE WAS PART OF AS MAYOR AND MIKE
HAS DETAILED PLANS FOR HOW HE
WILL HELP A MILLION MORE BLACK
FAMILIES BUY A HOUSE AND
COUNTERER ACTCOUNTER
COUNTERER ACTCOUNTER ER
ER COUNTERACT THE EFFECTS OF RED
LINING AS PRESIDENT.
YOUR REACTION?
YOUR REACTION? >> HE CAN TRY TO SCRUB THAT
VIDEO.
VIDEO. HE CAN TRY TO SCRUB THAT VIDEO
ANY WAY HE WANTS.
IT CLEARLY SAYS THAT REDLINING
WAS WHAT HELPED PROTECT THE
BANKS.
BANKS. THE BANKS COULD MAKE BIGGER
PROFITS.
PROFITS. LET ME TELL YOU HOW I SEE THIS.
THIS IS THE PROBLEM OF A
BILLIONAIRE WHO THINKS THE WAY
HE IS GOING TO BE ELECTED IS HE
WILL BUY AN ELECTION.
I THINK THE WAY THAT THE
DEMOCRATS OUGHT TO BE PICKING
THEIR CANDIDATE IS THROUGH THE
GRASS-ROOTS.
GRASS-ROOTS. I THINK FUNDING IS A BIG PART OF
THIS.
THIS. WHEN YOU CAN REACH IN YOUR OWN
POCKET AND THROW A FEW HUNDRED
MILLION ON THE TABLE AND START
BUYING YOUR WAY TO A NOMINATION,
IT’S A DIFFERENT PERSPECTIVE
THAN IF YOU ARE DOING IT FROM
THE GRASS-ROOTS UP.
I BELIEVE IN GRASS-ROOTS
FUNDING.
FUNDING. ANYBODY WHO IS LISTENING TO THIS
WHO THINKS THAT’S HOW WE OUGHT
TO BE FUNDING CAMPAIGNS, I HOPE
THEY GO TO ELIZABETHWARREN.COM
AND PITCH IN FIVE BUCKS TO SAY,
THAT IS THE WAY THAT WE SHOULD
MAKE OUR CAMPAIGNS RUN.
BE PART OF THIS.
VOLUNTEER.
VOLUNTEER. VOLUNTEER AN HOUR OF PHONE
BANKING.
BANKING. GO TO A PLACE NEAR YOU.
WE ARE IN 31 STATES.
THIS IS ABOUT DEMOCRACY HANGING
IN THE BALANCE.
ARE WE GOING TO BE A COUNTRY
THAT YOU GOTTA EITHER BE A
BILLIONAIRE OR GO SUCK UP TO THE
BILLIONAIRES?
BILLIONAIRES? OR ARE WE GOING TO BE A COUNTRY
WHERE WE REALLY DO MAKE OUR
DEMOCRACY WORK AGAIN AND WE FUND