Senator Elizabeth Warren
👤 PersonAppearances Over Time
Podcast Appearances
I love the phrase you use for that.
I just want to make sure everybody's following the rules and that nobody gets to hype things where there's some shenanigans going on behind the curtain so that those who are in the know get to make out really well and everybody else is paying a high price for that.
That's my only concern.
We don't let anybody drive a car without brakes.
We just literally don't do that.
We don't let anybody get on the freeway and zoom that car up to 60 miles an hour and not have a set of brakes on it.
We put regulations in place, and here's always a deal for me.
Most of the regulations are not that fancy.
They really are about things like make sure your customer understands fully what's going on here and a bunch of tricks and traps you just can't get to do because you're fancier and know how all the little quirks and twists work and you can hide it.
That there has to be in the same way you go to the grocery store, you buy stuff at the grocery store.
You don't run any scientific tests on what it is, the juice you're drinking or the can of soup that you open.
You don't run tests on that stuff.
You count on the fact that there is someone out there known as your government.
that has run a set of tests that made sure the kitchen it was put in was clean and made sure that the chemicals they put in there, things that were going to kill you, and that if they were going to put peanuts in it, that they had to put a big warning sign on it, right?
And in fact, we have, and I love that we have this, we have fights sometimes over that.
And we say, whoa, you're letting them put these chemicals in this stuff.
And I don't like this.
This is why organic foods grew up as a way to say, you don't have to worry about that stuff.
We do that with food because it makes no sense to ask every person who consumes food to go run that test.
I want the same basic things in place for investors.