FOX Business' Stuart Varney in his latest "My Take" on "Varney & Co." argued that Sen. Elizabeth Warren’s "contempt for bankers knows no bounds," while discussing Democrats grilling big bank CEOs on Capitol Hill
STUART VARNEY: I thought it was a joke: Sen. Elizabeth Warren stridently attacking top banker, Jamie Dimon, about over-draft fees. It was quite a spectacle!
Now, I guess if you've been hit with an overdraft fee yourself, you might think this is an important issue. Well, sorry folks, in the great scheme of things, it’s not. There are far bigger fish to fry than over-draft fees.
But this was Sen. Warren's opportunity to show just how much she dislikes those wicked bankers. We've seen her in action before, and we'll no doubt see her again: Her contempt for bankers knows no bounds.
But there's something more going on here. The left wants the banks to get in line with their social revolution. Many big corporations are already on board with social justice. The left wants the banks on board with climate change, racial justice, unionization and workers on the board. Senator Warren wants to control exactly who gets a loan from a bank. And you know it wouldn't be you!
If you actually sat through yesterday's hearings, you would have heard the left play at theatrics. And I'm sure that to some, bashing the "fat cats" has some appeal. America's most powerful bankers, all lined up on zoom screens, make an easy target.
But people who are serious about money, will not be happy to see the entire banking industry pilloried like this. We need a stable, solid, profitable banking system. Like the one we've got.
Seriously, do you want a socialist government-run bank that decides who gets a loan, who gets a job, and which industries get investment cash?
That's not the way we should be doing things in capitalist America.