Warren's Hypocrisy: Benefitting From Banking Loopholes

The Boston Herald today exposed Senator Elizabeth Warren for benefiting from a loophole to avoid disclosing financial interests. The Herald also showed Warren banks with the same companies she rails against, completely at odds with her sharp campaign trail rhetoric on financial services. The MassGOP put together a helpful comparison of what Elizabeth Warren says on banking issues, verses what she actually does.

LOOPHOLES.pngWarren Says She's No Fan Of Loopholes: "Washington also worked feverishly to cut taxes for those at the top, opening huge loopholes for big corporations and billionaires." (Elizabeth Warren, "What happened to the middle class?" CNN, 5/1/14)

But What Warren Does: Takes Advantage Of Financial Disclosure Loopholes: "A loophole in a federal financial disclosure law for members of Congress let U.S. Sen. Elizabeth Warren — a strident critic of big banks — withhold information about a high-limit line of credit against her Cambridge home with one of the country’s largest banks. (Kimberly Atkins, "$1.3 million loophole for Elizabeth Warren,"Boston Herald, 5/20/15)

Warren Says General Electric's Practices Are Bad for America: "In a 2012 campaign ad, Warren blasted GE and the Washington insiders she said allowed it to avoid income taxes.

'Washington lets big corporations like GE pay nothing — zero — in taxes while kids are left drowning in debt to get an education,' Warren said in the ad." (Kimberly Atkins, "Elizabeth Warren blasted GE... but banks there," Boston Herald,5/20/15)

But What Warren Does: Banks With GE, To The Tune Of Hundreds Of Thousands: "U.S. Sen. Elizabeth Warren, who during her campaign excoriated General Electric for benefiting from tax breaks at the expense of consumer debtors, holds high-balance savings accounts with the company’s financial services unit, earning her thousands of dollars in annual interest." (Kimberly Atkins, "Elizabeth Warren blasted GE... but banks there," Boston Herald, 5/20/15)