The financial collapse of 2008 got its start with predatory mortgages, that werenโt sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.
Elizabeth WarrenI don't like credit cards. They make overspending very easy. They can make life a lot more complex and stressful.
Elizabeth WarrenIf there's any lesson I've learned in the last five years, it's don't be so sure about what lies ahead. There are amazing doors that could open.
Elizabeth WarrenIf you have a choice between buying something and paying down your credit card, pay down your credit card.
Elizabeth WarrenThe people on Wall Street broke this country, and they did it one lousy mortgage at a time. It happened more than three years ago, and there has been no real accountability, and there has been no real effort to fix it.
Elizabeth WarrenBoth [of my granddaughters] Octavia and Lavinia have May birthdays. I've just been birthday shopping with them. But the shopping has a budget. I say, "Okay, if you pick this out, then you'll have how much left?" I wait for them to do the calculation, and they'll say, "$18." And we stand there and talk about, hmm, is that sweater really worth that much? And the girls work it through.Doing that takes away some of the magic of money.
Elizabeth Warren