MEANWHILE, GUESS WHO GETS OFF
SCOT-FREE?
NOT JUST PUTIN, BUT THE BIG OIL
AND GAS COMPANIES.
ONE WOMAN WHO HAS GOT A PLAN FOR
THOSE OIL COMPANIES AND THEIR
GINORMOUS PROFITS IS SENATOR
ELIZABETH WARREN OF
MASSACHUSETTS.
SENATOR, WELCOME BACK TO THE
SHOW.
THANKS FOR JOINING ME THIS
EVENING.
LET'S START WITH UKRAINE.
THE PRESIDENT HAS HELD FIRM
AGAINST A NO-FLY ZONE AND
SUPPLYING POLISH JETS TO UKRAINE
AND RISKING WORLD WAR III
AGAINST RUSSIA.
DO YOU AGREE WITH HIM ON ALL OF
THAT?
>> I DO.
I THINK THAT YOU START IN THE
RIGHT PLACE BY SAYING WE NEED TO
GIVE JOE BIDEN SOME REAL CREDIT
HERE.
WE NEED TO GIVE HIM CREDIT FOR
WHAT HE'S DONE QUIETLY AND
BEHIND THE SCENES, AND THAT IS
PULL ALL OF OUR ALLIES TOGETHER.
REMEMBER THAT JUST A FEW WEEKS
AGO, VLADIMIR PUTIN WAS SURE
THAT IF HE INVADED UKRAINE THAT
NATO WAS GOING TO BE IN
DISARRAY, THAT WE WOULDN'T ALL
BE ABLE TO HANG TOGETHER.
AND IN FACT EVERYONE HAS HELD
TOGETHER.
AND I PUT A BIG PART OF THE
CREDIT FOR THAT WITH JOE BIDEN.
THE SECOND THING IS THAT BIDEN
IS TRYING SOMETHING THAT IS
HISTORIC, AND THAT IS WHEN THERE
IS A MILITARY INVASION IN A
COUNTRY LIKE UKRAINE, INSTEAD OF
SAYING OUR ONLY OPTION IS TO GO
TO WAR, HE'S TRYING ECONOMIC
SANCTIONS AT A LEVEL THEY HAVE
NEVER BEEN TRIED BEFORE.
AND HE'S PULLED ALL OF THE
ALLIES TOGETHER AND BASICALLY
CUT RUSSIA OFF FROM THE FORMAL
BANKING SYSTEM.
AND PERHAPS AS IMPORTANTLY, CUT
OFF THE OLIGARCHS FROM THE
FORMAL BANKING SYSTEM.
HE IS REALLY CRANKING DOWN ON
THE SANCTIONS.
YOU NOTICE OTHER COUNTRIES HAVE
COME ALONG WITH THIS AND
COMPANIES WITHIN THE UNITED
STATES.
McDONALD'S HAS SAID THAT'S IT,
WE'RE OUT.
WE'RE NOT GOING TO DO BUSINESS
WITH RUSSIA.
THAT HAS A PROFOUND EFFECT ON
THE RUSSIAN ECONOMY AND ON
PUTIN'S WAR MACHINE.
SO BIDEN IS REALLY ON TWO FRONTS
DOING A GOOD JOB HERE.
>> SO I WANT TO COME BACK TO THE
OLIGARCHS AND THE SANCTIONS IN A
MOMENT, BUT I WONDER, SENATOR,
DO YOU WORRY AS I DO THAT AS
MORE AND MORE PEOPLE IN UKRAINE
TRAGICALLY DIE AND IF KYIV FALLS
IN A PARTICULARLY BRUTAL WAY TO
RUSSIAN FORCES, THERE WILL
UNDERSTANDABLY BE AN OUTCRY HERE
IN THE WEST, IN THE U.S., AND
MORE CALLS FOR THE U.S. TO DO
SOMETHING, TO GET MORE DIRECTLY
MILITARILY INVOLVED WITH ALL THE
RISKS THAT ENTAILS?
HOW WORRIED ARE YOU ABOUT A
SCENARIO LIKE THAT?
>> LOOK, IT IS IMPORTANT THAT WE
DO WHAT WE CAN TO SUPPORT
UKRAINE, BUT THERE ARE LIMITS IN
A WORLD WHERE WE'RE DEALING WITH
AN UNSTABLE DICTATOR WHO HAS
NUCLEAR WEAPONS.
WE ARE WORKING TOGETHER WITH THE
OTHER NATIONS OF THE WORLD TO
TRY TO FIND WAYS TO HEM HIM IN,
TO PUSH HIM BACK.
BUT NOT TO TRIGGER A NUCLEAR
WAR.
THE CONSEQUENCES, WHAT IT IS
THAT PUTIN'S GOT TO BE ABLE TO
THREATEN THE REST OF THE WORLD
WITH ARE SO ENORMOUS THAT IT'S
IMPORTANT THAT WE TAKE MEASURED
STEPS AND IT IS ONE MORE REASON
THAT I AM GLAD IT IS JOE BIDEN
SITTING IN THE WHITE HOUSE RIGHT
NOW.
HE'S CALM, HE'S IN CONTROL --
>> YES.
>> -- AND HE'S KEEPING US
TOGETHER WITH OUR ALLIES AND NOT
UNNECESSARILY BRASHLY TRIGGERING
A RESPONSE FROM PUTIN THAT COULD
DEVASTATE THE ENTIRE WORLD.
>> SO YOU MENTIONED THE
COMPREHENSIVE SANCTIONS AND THE
OLIGARCHS.
>> YES.
>> YOU YOURSELF, SENATOR, HAVE
BEEN CRAFTING LEGISLATION TO TRY
TO PREVENT RUSSIAN ELITE FROM
USING CRYPTOCURRENCY TO GET
AROUND FINANCIAL SANCTIONS.
IT'S A GOOD IDEA, BUT GIVEN THE
SENATE IS THE PLACE WHERE BILLS
GO TO DIE THESE DAYS, DO YOU
HAVE REPUBLICAN SUPPORT FOR
THIS?
DO YOU THINK YOU CAN GET IT
THROUGH IN A BIPARTISAN WAY AND
GET IT DONE FAST?
>> ACTUALLY WE'RE TALKING WITH
REPUBLICANS ABOUT IT.
I'VE GOT GOOD SUPPORT RIGHT NOW
ON BOTH SIDES.
I AM HOPEFUL THAT IN A TIME LIKE
THIS, IN A MOMENT OF CRISIS,
THAT WE WILL GIVE THE TREASURY
DEPARTMENT THE TOOLS IT NEEDS
NOT JUST TO DO THROUGH THE
FORMAL BANKING SYSTEM, WHICH
THEY HAVE ALREADY DONE, BUT TO
PATCH THE HOLE IN THAT BUCKET SO
THAT THE OLIGARCHS CAN'T SAY,
OKAY, I CAN'T GET THE FORMAL
BANKING SYSTEM BUT TURN AROUND
AND GO THROUGH THE CRYPTO
SYSTEM.
BY THE WAY, SAME POINT WITH
RUSSIA ITSELF.
REMEMBER, PUTIN MAY BE LOOKING
TO CRYPTO IN ORDER TO FINANCE
MUCH OF HIS WAR MACHINE.
THREE-QUARTERS OF ALL OF THE
RANSOMWARE ATTACKS, MONEY, GOES
THROUGH RUSSIA RIGHT NOW.
AND THE IDEA THAT FOREIGN
COUNTRIES USE CRYPTO TO EVADE
SANCTIONS IS NOT SOME THEORY.
IT'S HAPPENING IN PRACTICE.
IN FACT WE'VE DOCUMENTED IT.
THE TREASURY DEPARTMENT HAS
DOCUMENTED IT.
NORTH KOREA, IRAN ARE USING
CRYPTO TO EVADE SANCTIONS.
SO AS WE TIGHTEN AROUND RUSSIA
THESE ECONOMIC SANCTIONS, IT'S
IMPORTANT THAT THEY NOT BE ABLE
TO ESCAPE THROUGH CRYPTO.
>> SO GAS PRICES ARE UP BIG-TIME
AT THE PUMP.
>> YEAH.
>> IT'S BECOME A MAJOR ISSUE
POLITICALLY HERE IN THE U.S.
THE BIDEN ADMINISTRATION IS
CALLING IT PUTIN'S PRICE RISE.
THE REPUBLICANS ARE SAYING IT'S
BIDEN'S PRICE RISE.
AREN'T BE MISSING OUT ON THE
COMPANIES THAT ARE PRICE
GOUGING?
WHY AREN'T WE DOING SOMETHING
ABOUT THEM?
>> WELL, I'VE GOT A PLAN TO
THAT.
SENATOR WHITEHOUSE AND I HAVE
INTRODUCED A WINDFALL PROFITS
TAX.
IF YOU'RE OUT THERE PRICE
GOUGING, YOU'RE GOING TO HAVE TO
GIVE UP A BIG CHUNK OF YOUR
ILL-GOTTEN GAINS.
THAT'S THE BEST WAY I KNOW TO BE
ABLE TO PUSH BACK AGAINST THESE
OIL COMPANIES.
YOU KNOW, THIS IS A PROBLEM
WE'VE GOT, AND THAT IS THAT WHEN
SOMETHING HAPPENS THAT MAY CAUSE
THE COST OF THE SUPPLY TO GO UP
JUST A LITTLE, WE'RE WATCHING
GIANT CORPORATIONS, OIL
COMPANIES BUT ALSO WE'RE SEEING
IT IN FOOD, FOR EXAMPLE, THAT
COMPANIES SWOOP IN AND SAY, HEY,
WHILE WE HAVE THE OPPORTUNITY,
THEY GO AHEAD AND RAISE PRICES
EVEN MORE.
THAT'S WHY WE'RE SEEING NOT JUST
THAT PRICES ARE GOING UP, BUT
THAT PROFIT MARGINS ARE GOING UP
AND GOING UP DRAMATICALLY.
>> I FIND IT BIZARRE, SENATOR,
THAT OUR SOLUTION TO AVOID
BUYING OIL FROM ONE FOREIGN
AUTOCRACY THAT ABUSES HUMAN
RIGHTS IS TO GO AND BUY OIL FROM
ANOTHER FOREIGN AUTOCRACY THAT
ABUSES HUMAN RIGHTS.
SAUDI ARABIA JUST MASS EXECUTED
81 PEOPLE YESTERDAY, THE LARGEST
MASS EXECUTION IN MODERN TIMES.
YET THERE ARE REPORTS THE BIDEN
ADMINISTRATION WANTS TO GO HAT
IN HAND TO THE SAUDIS FOR MORE
OIL.
AT WHAT POINT DO WE FOCUS ON
RENEWABLES AT HOME AND NOT MORE
OIL FROM ABROAD?
>> WELL, WE HAVE TO REMIND
OURSELVES, IF WE HAD FOCUSED
MORE ON RENEWABLES AT HOME
STARTING 15 YEARS AGO, RUSSIA
WOULDN'T HAVE THE POWER THAT IT
HAS TODAY.
SO OKAY, I DON'T HAVE A TIME
MACHINE, WE CAN'T GO BACKWARDS.
BUT PLEASE LET US USE THIS
MOMENT TO CONCENTRATE OUR FOCUS
ON THE NEED TO GET OURSELVES OFF
A FOSSIL FUEL ECONOMY.
THIS IS THE MOMENT THAT WE NEED
TO BE INVESTING AND DOUBLING
DOWN, AND DOUBLING DOWN AGAIN ON
SOLAR, ON WIND, ON HYDRO, SO
THAT RUSSIA DOES NOT HAVE THE
POWER.
AND THE SAME IS TRUE FOR OTHER
COUNTRIES.
WE SHOULDN'T PUT OURSELVES AT
RISK FOR HOW IT IS THAT THEY GET
THEIR MONEY THROUGH A FOSSIL
FUEL ECONOMY AND THEN HOW THEY
USE IT TO TRY TO DISRUPT THE
WORLDWIDE ECONOMY.
THIS IS A MOMENT WE NEED TO BE
SAYING, YEAH, THIS IS WHY ALL OF
US NEED TO GO GREEN.
WE NEED TO MAKE THAT INVESTMENT
AS A NATION, NOW.
>> SENATOR, IF AMERICANS ARE
GETTING HIT HARD BY OIL PRICES,
WHY NOT OFFER THEM SOME
FINANCIAL RELIEF?
WHY NOT DO WHAT THE PRESIDENT
PROMISED TO DO ON THE CAMPAIGN
TRAIL AND INSTEAD OF DOING
ENDINGLESS PAUSES ON STUDENT
LOAN REPAYMENT, JUST CANCEL
$10,000 IN STUDENT DEBT AS HE
PROMISED.
I KNOW YOU WANT HIM TO GO
FURTHER AND CANCEL $50,000.
WHY ISN'T HE DOING IT?
WHY IS HE BREAKING THAT PLEDGE
WHICH HE HAS THE POWER TO ENACT
BY EXECUTIVE ORDER?
HE DOESN'T NEED JOE MANCHIN'S
VOTE ON THIS.
>> TODAY WOULD BE A GREAT DAY TO
CANCEL STUDENT LOAN DEBT, MR.
PRESIDENT.
REMEMBER, 40% OF THE PEOPLE THAT
HAVE STUDENT LOAN DEBT DO NOT
HAVE A COLLEGE DIPLOMA.
THEY'RE PEOPLE WHO DID EXACTLY
WHAT WE ASKED THEM TO DO.
THEY TRIED.
BUT THEY HAD BABIES, THEY WERE
WORKING THREE JOBS, THEIR MOM
GOT SICK, IT DIDN'T WORK OUT FOR
THEM.
AND NOW THEY EARN WHAT A HIGH
SCHOOL GRADUATE EARNS, BUT
THEY'RE TRYING TO DEAL WITH
COLLEGE LOAN DEBT.
ALSO REMEMBER WHAT IT'S DOING TO
THE RACIAL WEALTH GAP.
AFRICAN AMERICANS, LATINOS
BORROW MORE MONEY TO GO TO
SCHOOL, MORE MONEY WHILE THEY'RE
IN SCHOOL AND HAVE A HARDER TIME
PAYING IT OFF.
IF THE PRESIDENT CANCELLED
$50,000 OF STUDENT LOAN DEBT, HE
COULD CANCEL THE BLACK/WHITE
WEALTH GAP FOR THOSE WITH
STUDENT LOAN DEBT BY 27 POINTS.
THINK WHAT THAT WOULD DO FOR
RACIAL EQUITY IN THIS COUNTRY.
AND I'LL JUST MENTION ABOUT
WOMEN.
TWO OUT OF EVERY $3 OF STUDENT
LOAN DEBT IS OENGD BYWNED BY A W
WE STRUGGLE MORE TO PAY FOR
COLLEGE AND HAVE A HARDER TIME
TO PAY OFF THE DEBTS WHEN WE GET
OUT.
CANCELLING $50,000 OF STUDENT
LOAN DEBT WOULD HELP TENS OF
MILLIONS OF AMERICANS.
PEOPLE WHOSE ONLY SIN WAS TO BE
BORN INTO A FAMILY THAT COULDN'T
WRITE A CHECK FOR THEM TO GO TO
SCHOOL AND WHO NONETHELESS GOT
OUT THERE AND TRIED TO GET AN
EDUCATION.
SO I THINK THIS IS THE MOMENT TO
DO IT.
THE PRESIDENT HAS THE POWER --
>> YES.
>> THERE'S WIND IN HIS SAILS.
TENS OF MILLIONS OF PEOPLE WANT
HIM TO DO IT.
SO, MR. PRESIDENT, NOW'S A GOOD
TIME.
CANCEL $50,000 OF STUDENT LOAN
DEBT.
>> I HOPE PRESIDENT BIDEN AND
HIS TEAM ARE WATCHING, SENATOR