May 19, 2014 - Elizabeth Warren

  • 05/19/2014

Scientists embrace gender equality for lab rats, a product revolutionizes beef jerky, and Elizabeth Warren discusses the banking industry and her memoir, "A Fighting Chance."

>> Stephen: TONIGHT TWO

COLLEGE GRADUATES HAVE TOOMUCH DEBT OR ARE PHILOSOPHER

JOBS NOT PAYING WHAT THEYUSED TO?

THEN IS SCIENTIFIC RESEARCHBIASED AGAINST WOMEN? WE ALREADY

INVENTED LAST BLAST MASCARA,WHAT MORE DO THEY WANT? AND

MY GUEST SENATOR ELIZABETHWARREN IS THE LEFT'S LATEST

DARLING.

SORRY GLUTEN ALLERGIES, YOUR15 MINUTES ARE UP.

A MAN IN TENNESSEE WASARRESTED FOR ATTEMPTING TO

HAVE SEX WITH AN ATM.

EVEN WORSE HE HAD TO PAY APENALTY FOR EARLY

WITHDRAWAL.

THIS IS THE COLBERT REPORT

WELCOME TO THE REPORT,

THANK YOU, LADIES AND GENTLEMEN,COME ON!

(AUDIENCE CHANTING "STEPHEN")

WELCOME TO THE REPORT,EVERYBODY,

GOOD TO YOU HAVE WITH US ONTHIS FINE SPRING MONDAY NIGHT.

WE GOTTA GO. NATION, THANK YOUSO MUCH.

YOU KNOW, FOLKS IT'S NOTJUST MINDLESS ADORATION,

FOLKS.

I NEED IT AND I WANT TOTHANK YOU FOR SINGLING ME

OUT FOR YOUR APPLAUSE.

IT MAKES ME FEEL SPECIAL ASAN INDIVIDUAL.

BECAUSE FRANKLY I'M SICK ANDTIRED OF HEARING ABOUT

EQUALITY.

EQUALITY RIGHTS FOR GAYS,EQUAL PAY FOR WOMEN.

EQUAL SPACE FOR EQUAL.

AND NOW OBAMA'S EQUALICRATS OVERAT NATIONAL INSTITUTES OF

HEALTH ARE DIRECTINGSCIENTISTS TO PERFORM THEIR

EXPERIMENTS ON BOTH FEMALEAND MALE ANIMALS.

COED LAB RATS?

THAT'S A BAD IDEA.

YOU KNOW LATE AT NIGHT THEY'REGONNA HOOKUP AT WORK AND THEN

IT'S GONNA BE AWKWARD AROUNDTHE WATER BOTTLE THE NEXT DAY.

YOU SEE TRADITIONALLY WHENSCIENTISTS TEST A DRUG ON

MICE OR RATS THEY AREUSUALLY MALE.

SEEMS NATURAL ENOUGH, THE FEMALERATS ARE ALL BEING USED TO TEST

COSMETICS. BUT-- LOOKING GOOD,ALL RIGHT.

BUT OF COURSE THERE'SANOTHER REASON THE FEMALE

RATS WERE LEFT OUT OF THEEXPERIMENTS.

>> TURNS OUT FEMALE RATSALSO HAVE THOSE PESKY

HORMONES SO TO CONTROL FORTHAT VARIABLE, MOST

RESEARCHERS STUDY JUST MALES.

YOU GOT TO LEAVE THE FEMALESOUT.

ANY SCIENTIST KNOWS IT ISCRUCIAL TO ELIMINATE

EXTRANEOUS VARIABLES LIKEHALF THE GLOBAL POPULATION.

BUT APPARENTLY, APPARENTLY,FOLKS, TURNS OUT THAT

OMISSION CREATED A FEW OOPSYDAISIES LIKE AMBIEN DOSAGE.

AMBIEN WAS PUT ON THE MARKETAFTER EXTENSIVE TESTING 20 YEARS

AGO BUT LAST YEAR THE FDATOLD WOMEN TO CUT THEIR

DOSES IN HALF BECAUSE NEWSTUDIES SHOW THEY

METABOLIZE THE ACTIVE INGREDIENT

MORE SLOWLY THAN MEN DO.

UNFORTUNATELY A LOT OF THOSEWOMEN DIDN'T HEART THE FDA

BECAUSE THEY WERE ASLEEP FORSOME REASON.

AND NOW THEY'RE BLAMING THERATS.

>> NOT STUDYING BOTH MALEAND FEMALE ANIMALS RESULTS

IN MORE PROBLEMS FOR WOMENDOWN THE ROAD.

>> IF THE WHOLE DARNPIPELINE IS MALE DOMINATED

AND SEX DIFFERENCES TRULYDO MATTER HOW CAN IT NOT BE

THE CASE THAT YOU ARE GOINGTO END UP WITH ON AVERAGE A

LOT MORE NEGATIVE SIDEEFFECTS IN WOMEN THAN IN MEN

SO, WOMEN SHOULD BE GRATEFULFOR BONUS SIDE EFFECTS.

I MEAN THIS TIME IT'S BEINGSLEEPY BUT NEXT TIME IT

MIGHT BE INVISIBILITY ORHEAT VISION.

AND THIS LONG-STANDINGTRADITION OF TESTING ON ONLY

MALE SUBJECTS IS BASED ONTHE UNDERLYING ASSUMPTION

THAT FEMALES ARE SIMPLY AVARIATION ON A THEME.

FOLKS THAT'S SCIENCE.

MALE IS DEFAULT HUMAN.

ALL RIGHT IF YOU WANT BELLSAND LISTENS LIKE THE BUMPY

BITS IN FRONT OR ALL THATFANCY PLUMBING DOWN THERE,

IT COMES AT A PRICE, LADIES.

FOR INSTANCE WE DON'T MAKEMEDICINE FOR YOU.

I MEAN AFTER ALL HOW ARE WESUPPOSED TO, WOMEN ARE TOO

COMPLICATED THAT IS WHY THEYARE NOT ALLOWED ON BOATS.

THEIR GYNO PIECES MAKE COMPASSGOES CRAZY.

DON'T BELIEVE ME, THEN WHYARE THEIR INSIDES EXACTLY

LIKE THE BERMUDA TRIANGLE?

LOST A LOT OF GOOD MEN INTHERE.

>> I WANT YOU TO KNOW I JUSTSHOWED ADMIRABLE RESTRAINT.

BUT FOLKS WHETHER YOU ARE ANAMERICAN OR A LADY AMERICAN,

THINGS ARE GOING GREAT INTHIS COUNTRY RIGHT NOW.

THE DOW IS OVER 16,000.

AND THAT IS A LOT OF DOWS.

I MEAN TO PUT THAT INLAYMEN'S TERMS, IF YOU TOOK

16,000 DOWS AND LAID THEMEND-TO-END THAT WILL BE

ALMOST 5 NASDAQS AND I HOPE IDON'T HAVE TO TELL YOU WHAT

THAT MEANS BECAUSE I WOULDHAVE TO ASK SOMEONE ELSE.

>> WE'VE COME A LONG WAYSINCE 2008 WHEN THE ECONOMY

CRATERED THANKS TO OBAMA'SMISGUIDED RUNNING FOR

PRESIDENT.

I THINK, I WAS PREOCCUPIEDWITH THE LAST SEASON OF

ACCORDING TO JIM. IT WAS A DARKTIME FOR EVERYONE.

AND FOLKS THIS RECOVERY ISALL THANKS TO OUR HEROIC

BANKS WHO, FACED WITH POSSIBLEEXTINCTION, HUNKERED DOWN

AND GOT TO WORK ACCEPTINGALL THE MONEY IN THE WORLD

THAT WE GAVE THEM.

AND ALL THEY ASKED IN RETURNIS THAT WE NOT ASK ANYTHING

IN RETURN OR EVER BRING THESUBJECT UP AGAIN.

BUT SOME WANTED TO DESTROYOUR BANKS LIKE MASSACHUSETTS

SENATOR AND SCHOOL LIBRARIANYOU HAD A CRUSH ON ELIZABETH

WARREN. (APPLAUSE)

SHE IS CREDITED WITH THECREATION

OF THE CONSUMER FINANCIALPROTECTION BUREAU AND ARGUED

FOR IT ON THE WORLD'S MOSTRESPECTED FINANCIAL PROGRAM.

>> I WANT A STRONG CONSUMERAGENCY.

>> WHAT WOULD THEY DO.

>> WHAT THEY WOULD DO ISMAKE SURE WE COULD ALL READ

OUR CREDIT CARD AGREEMENT.

>> CAN'T YOU READ YOUR CREDITCARD AGREEMENT?

>> NOT THE ONES WE HAVE NOW,THEY ARE ABOUT 30 PAGES LONG,

TINY LITTLE PRINT.

>> YOU ARE A PROFESSOR OFCONTRACT LAW AT HARVARD

UNIVERSITY.

>> THAT'S RIGHT.

>> AND YOU CAN'T READ THEM.

>> THAT'S RIGHT.

IT'S DESIGNED NOT TO BEREAD.

>> GOOD BECAUSE I CAN'T READMY CREDIT CARD AGREEMENT.

IT'S AGAINST MY CREDIT CARDAGREEMENT.

I THINK, I'M TOO SCARED TOREAD IT AND WARREN'S NOT

JUST ATTACKING CREDIT CARDS NOW,SENATOR BUZZSHACKLE HERE WANTS

TO TAKE THE ADVENTURE OUT OFBANKING.

>> BANKING SHOULD NOT BETHIS KIND OF HIGH RISK

ACTIVITY.

AND IT SHOULD NOT BE TAKINGON RISK.

IF YOU WANT TO TAKE ON THOSERISKS YOU NEED TO BE

SOMEWHERE ELSE.

BANKING SHOULD BE BORING.

>> BANKING SHOULD NOT BEBORING.

OPENING A SIMPLE CHECKINGACCOUNT SHOULD BE A HIGH

RISK ADRENALINE FUELEDBALLS TO THE WALL EXTREME SPORT

THAT IS WHY MY ACCOUNTANTBILL FILES MY TAXES WHILE

LANDING IN AN INVERTED 360NOSEBONE BUTTERSLIDE.

AND IT'S NOT MAKING HER ANYFRIENDS, FOLKS.

>> ELIZABETH WARREN ISLOATHED BY WALL STREET,

HATED BY WALL STREET.

>> WALL STREET HATES HER.

>> THEY REALLY, REALLY DOHATE HER.

>> JUST LIKE THE OLD WALLSTREET ADAGE, IF YOU DON'T

HAVE ANYTHING NICE TO SAY,IT'S PROBABLY ABOUT

ELIZABETH WARREN.

AND NOW SHE'S INTRODUCED THEBANK ON STUDENT EMERGENCY

LOAN REFINANCING ACT.

A BILL SO SOCIALIST THATSOCIALIST SENATOR BERNIE

SANDERS PRAISED IT SAYINGTHE ONLY THING WRONG WITH

THIS BILL IS THAT ELIZABETHTHOUGHT OF IT AND I DIDN'T.

SHE'S OUT-COMMIE-ING THECOMMIE.

HANG ON, JIMMY, PUT WARREN'SHAIR ON SANDERS, OKAY.

NOW PUT SANDERS HAIR ONWARREN.

OH MY GOD, NOW SWITCH THEIRFACES IT'S THE SAME PERSON.

NOW WORST OF ALL, FOLKSWARREN'S SUPPORTERS ARE LINING

UP TO MAKE HER PRESIDENT ANDSHE IS DOING NOTHING

DISSUADE THEM.

>> I'M NOT RUNNING FORPRESIDENT.

>> I'M NOT RUNNING FORPRESIDENT.

>> I'M NOT RUNNING FORPRESIDENT.

>> I'M NOT RUNNING FORPRESIDENT.

>> OH, METHINKS SHE DOTHCLEARLY STATE SHE'S NOT

RUNNING FOR PRESIDENT TOOMUCH.

I MEAN WHY ELSE WOULD SHERELEASE THIS MEMOIR A

FIGHTING CHANCE.

THE ONLY REASON POLITICIANSWRITE THESE THINGS IS

BECAUSE THEY ARE THROWINGTHEIR HAT IN THE RING.

THAT'S WHY I'M CONFIDENT THEREPUBLICANS ARE GOING TO

NOMINATE GOVERNOR FIFTY SHADES.HE PROMISES TO TIGHTEN

WASHINGTON'S BELT BUT IWON'T TELL YOU WHERE.

THE POINT IS-- BIGREPUBLICAN AND OR BONDAGE

FANS HERE TONIGHT. THE POINTIS-- PUMPKINPATCH. THAT'S MY

SAFE WORD. THE POINT ISIRRESPONSIBLE MEDIA NEEDS TO

STOP GIVING SENATOR WARREN APLATFORM TO SPEW HER

DESTRUCTIVE AGENDA.

WHY?

I DON'T KNOW.

>> I WILL ASK TONIGHT'SGUEST SENATOR ELIZABETH

WARREN.

WE'LL BE RIGHT BACK.

>> THANK YOU VERY MUCH,LADIES AND GENTLEMEN.

WELCOME BACK, EVERYBODYNATION, NATION, WITH THE

MIDTERM ELECTIONS RAPIDLYAPPROACHING, CONSERVATIVES

IN THE GOP ARE ONCE AGAINBRINGING TO THE FORE THE

DIVISIVE SOCIAL ISSUE OFABORTION THIS DEBATE

ULTIMATELY OF COURSE COMESDOWN TO THE QUESTION OF

WHERE DOES LIFE BEGIN.

WELL TONIGHT ONCE AND FORALL, I-- WAS'S THAT?

FOLKS, I HAVE JUST BEENHANDED A LATE-BREAKING

STEVEN COLBERT CONSUMERALERT.

ATTENTION, ATTENTIONOUTDOORSMAN IF ARE YOU THE

OWNER OF A CABELA JERKYBLASTER MODEL IK 540848 PUT

DOWN THE BLASTER AND STEPAWAY FROM THE MEAT GUN.

FOR MORE ON THIS BREAKINGSTORY WE TURN TO OUR

AFFILIATE AT KSTP ST. PAUL'SNEWS LEADER.

>> NOW TO A CONSUMER ALERTFOR CABELA CUSTOMERS.

THE OUTDOOR RETAILER ISRECALLING 600 OF THESE JERKY

BLASTERS.

THEY'RE USED TO MAKE JERKYSTRIPS AND STICKS.

CABELA SAYS THE BATTERYCHARGER ADAPTER CAN

OVERCHARGE CAUSING IT TOOVERHEAT AND START A FIRE.

>> THANKS, ERIC.

CRITICALLY IMPORTANTINFORMATION, FOLKS.

THIS JERKY BLASTER'S BATTERYCHARGER ADAPTOR CAN

OVERHEAT.

ALSO, THERE IS SOMETHINGCALLED A JERKY BLASTER.

(LAUGHTER)DID NOT KNOW.

ACCORDING TO CABELA IT IS ANELECTRICALLY POWERED

HANDHELD JERKY EXTRUDER.

YOU CRAM YOUR MEAT INTO THETUBE, THEN PULL THE TRIGGER

AND THE MEAT IS SQUIRTED OUTIN TIDY STRIPS.

IT IS SIMILAR TO A CAULKINGGUN BUT THE DIFFERENCE IS

THERE IS NO DIFFERENCE.

THIS IS THE PERFECT GIFTFOR ANY HUNTER WHO HAS EVER

THOUGHT I JUST SHOT THISANIMAL WITH MY GUN.

I WISH I HAD A GUN THATSHOOTS ANIMAL.

AND FOLKS, TALK ABOUTCONVENIENCE.

THE JERKY BLASTER ISCORDLESS.

SO IT'S PERFECT FOR THEOUTDOORSMAN WHO IS JERKING

ON THE GO.

I USE MINE EVERYWHERE.

ON HORSEBACK, PLAYING TENNIS,EVEN DURING THE COLONOSCOPY

I NEEDED FROM EATING SO MUCHJERKY.

THE POINT IS, FOLKS, THIS ISA HUGE LOSS FOR THOSE OF US

IN THE JERKING COMMUNITY.

I JERK EVERYWHERE I GO.

I EVEN SNEAK OFF AT WORK ANDJERK MY MEAT ON LUNCHBREAK.

AND ON WEEKENDS I GO OFF WITHTHE GUNS ON HUNTING TRIPS.

WE SHOOT AN ANIMAL THENSTAND AROUND IN A CIRCLE AND

JERK IT.

I KNOW WHAT YOU ARE THINKING.

(APPLAUSE)THERE'S SOME JERKERS OUT THERE

TONIGHT.

I KNOW WHAT YOU'RE THINKING,ISN'T ALL THAT EAT GOING TO

GUM UP THE BLASTER?

NOT IF YOU ARE USING CABELA'SOTHER ACTUAL PRODUCT.

FOOD GRADE SILICONELUBRICANT.

EVERYTHING YOU WANT IN AFOOD LUBE.

IT'S FLAVORLESS, AND SLICKAS A WHISTLE.

PRO TIP, PUMP A LITTLE OFCABELA FOOD GRADE FOOD

LUBRICANT BEFORE A MEAL ANDYOU CAN TURN ANY BURGER INTO

A SLIDER.

EVEN IF YOU DON'T OWN A JERKYBLASTER, SOON YOU WILL BE

BLASTING JERKY.

WE'LL BE RIGHT BACK.

>> WELCOME BACK, EVERYBODY,MY GUEST TONIGHT HAS A NEW

MEMOIR CALLED A FIGHTINGCHANCE. SHE'S ABOUT TO GET

A CHANCE TO FIGHT.

PLEASE WELCOME SENATORELIZABETH WARREN.

(APPLAUSE)

SENATOR WARREN, THANKS SO MUCHFOR COMING BACK.

ALL RIGHT.

WELL, FIRST OF ALL, LET MESAY IT'S A PLEASURE TO

HAVE YOU BACK.

IT'S BEEN A FEW YEARS.

>> GOOD TO BE HERE.

>> AND I WANT TO REMIND YOUTHE LAST TIME YOU WERE HERE

I DID NOT CALL YOU SENATOR,BECAUSE YOU WERE NOT A

SENATOR.

>> THAT'S RIGHT.

>> Stephen: YOU ARE WELCOMEFOR THE COLBERT BUMP.

>> THANK YOU.

>> Stephen: I WILL GET MYTASTE ON THE BACK END, NO

DOUBT.

OKAY.

SENIOR SENATOR FROMMASSACHUSETTS, FORMER

HARVARD LAW PROFESSOR WHOCAME WITH THE IDEA FOR THE

CONSUMER FINANCIALPROTECTION BUREAU, ALSO

CHAIRED THE CONGRESSIONALOVERSIGHT PANEL OF THE $700

BILLION TARP PROGRAM AND YOUHAVE WRITTEN NINE BOOKS, THE

LATEST OF WHICH IS AFIGHTING CHANCE.

WHO HAS GOT THE FIGHTINGCHANCE HERE, SENATOR?

ARE YOU THE PERSON FIGHTINGOR IS AMERICA THE PEOPLE

FIGHTING.

>> WELL, A LITTLE OF BOTH.

LOOK I'M SOMEBODY WHO GREWUP ON THE RAGGED EDGE OF THE

MIDDLE CLASS. MY DADDY WAS AMAINTENANCE MAN

MY MOM WORKED A MINIMUM WAGE JOBAT

SEARS THERE WAS NO MONEY FORCOLLEGE.

>> DON'T YOU TRY TOOUTHUMBLE ME.

I WILL NOT BE OUTHUMBLED.

MY FATHER WAS AN APPALACHIANTURD MINER, OKAY.

>> GOT IT BUT HERE WAS THEKEY DIFFERENCE.

I GREW UP IN AN AMERICA THATWAS INVESTING IN KIDS.

IT WAS INVESTING IN PUBLICUNIVERSITIES IT HAD A HIGHER

MINIMUM WAGE.

IT WAS AN AMERICA THAT SAIDEVERY KID WOULD GET A

FIGHTING CHANCE.

AND THAT'S HOW WE BUILTAMERICA'S GREAT MIDDLE

CLASS.

THEN STARTING IN ABOUT THE1980s WE TURNED IN A

DIFFERENT DIRECTION.

>> YOU MEAN WHEN REAGAN CAMEIN AND IT WAS MORNING IN

AMERICA.

(LAUGHTER)THE DIRECTION TOWARD

GREATNESS PRIDE.

>> YES, THAT IS THE RIGHTTIME, WHEN THIS HAPPENED.

(LAUGHTER)(APPLAUSE)

>> SO WE ARE ON THESAME PAGE SO FAR.

>> THAT'S RIGHT.

AND WHAT HAPPENED IS THAT HEHAD A COUPLE OF IDEAS.

THE FIRST ONE WAS THAT THEYWOULD FIRE THE COPS.

NOT THE ONES ON MAIN STREETBUT THE ONES ON WALL STREET.

>> THE ONES WHO WERESHACKLING CREATIVITY, AND

INGENUITY IN

OUR FINANCIAL INSTITUTIONS.

>> AND MAKING SURE THEBIGGEST FINANCIAL

INSTITUTIONS ACTUALLY FOLLOWEDTHE LAW.

THOSE WERE THE COPS THEY GOTRID OF.

>> THE LAW THAT IS AVAGUE TERM, LAW.

ONE MAN'S LAW ISANOTHER PERSON'S REGULATION.

AND REGULATION IS BAD.

REGULATION STIFLES BUSINESSAND STIFLES

ENTREPRENEURSHIP.

>> NO, NO.

NO, SEE IF WE DON'T HAVESOME BASIC RULES THEN WHAT

HAPPENS IS EXACTLY WHATHAPPENED THEN.

AND THAT IS THE BIGFINANCIAL INSTITUTIONS MADE

BILLIONS OF DOLLARS BYCHEATING PEOPLE ON CREDIT

CARDS, MORTGAGES.

>> WHAT DO YOU MEAN CHEATINGPEOPLE ON CREDIT CARDS.

YOU SIGN UP FOR A CREDITCARD, USE THE CREDIT CARD

AND THEN YOU HAVE TO PAYYOUR BILLS, IS THAT TOO

COMPLICATED FOR HARVARD?

>> OH.

>> SO YOU JUST ACCUSEDREAGAN OF SUPPORTING

CHEATING PEOPLE.

THOSE WERE YOUR WORDS.

>> LET'S BE CLEAR ABOUTTHIS.

IT WAS SUPPORTING HAVING THEREGULATORS LOOK THE OTHER

WAY.

WHILE THE BIGGEST FINANCIALINSTITUTIONS HID EVERY TRICK

AND EVERY TRAP POSSIBLE INCREDIT CARDS, IN MORTGAGES,

IN CHECKING ACCOUNT RULES.

AND THEY MADE BILLIONS OFDOLLARS DOING IT.

AND AT THE SAME TIME THEYLOADED UP ON RISK.

AND WHAT ULTIMATELY HAPPENEDBY 2008 WAS THAT THEY BROKE

THE ECONOMY.

THEY GOT BAILED OUT BY THETAXPAYERS.

THEY CONTINUED TO BREAK THELAW IN FORECLOSING ON

PEOPLE'S MORTGAGES.

>> BUT LET ME POINTSOMETHING OUT TO YOU.

WE GAVE THEM A TON OF MONEYFOR TARP, OKAY.

>> THAT'S RIGHT.

>> WE MADE $52 BILLION.

THE AMERICAN PEOPLE, THEGOVERNMENT MADE $52 BILLION

ON TARP.

WE MADE A PROFIT, THEINDIVIDUAL HOMEOWNERS WHO

WERE BAILED OUT, WE LOST 7.5BILLION ON THOSE PEOPLE.

>> OH.

>> AREN'T YOU BACKING THEWRONG HORSE HERE?

THE BANK, THE BANKS GAVE USTHE PROFITS, THE MIDDLE

CLASS DOESN'T GIVE THEPROFIT BACK.

WHY ARE YOU WORKING SO HARDTO HELP PEOPLE WHO AREN'T

PAYING THEIR BILLS.

>> OH, SO -->> AGAIN THIS IS A LOT OF

FREELOADING I'M HEARING YOUREPORT.

IT IS JUST MORE SOCIALISM.

>> YOU ARE RIGHT THERE HASBEEN A LOT OF FREELOADING

BUT THE FREELOADING HAS BEENBY THE BIGGEST FINANCIAL

INSTITUTION WAS GOTBAILED-- .

>> WHO PAID US BACK.

>> THEY GOT BAILED OUT BYTHE AMERICAN TAX PAYERS,

WHO BROKE THE LAW AND WERENEVER HELD RESPONSIBLE.

>> BROKE THE LAW, WHAT LAWSDID THEY BREAK?

NAME ONE LAW THEY BROKE.

>> HOW ABOUT THE MORTGAGELAWS THAT SAID THEY WERE

SUPPOSED TO FOLLOW CERTAINRULES WHEN THEY FORECLOSED

AGAINST PEOPLE'S HOMES.

AND WHAT THEY DID IN TEXAS,THEY SAID WE COULD SAVE A

LOT OF MONEY IF WE DIDN'TFOLLOW THE LAW.

THEY HAVE ADMITTED TO THATBUT HERE IS THE KEY PART.

NOBODY WENT TO JAIL FOR ANYPART OF THIS.

THE ONLY PEOPLE IN AMERICATODAY WHO GO TO JAIL ARE

REGULAR FOLKS.

BIG FINANCIAL INSTITUTIONSGET OUT THERE, THEY LAUNDER

DRUG MONEY, THEY VIOLATE THELAW AND STILL NO ONE IS HELD

ACCOUNTABLE.

I THINK THAT'S FUNDAMENTALLYWRONG, EVERYONE SHOULD--

(APPLAUSE)>> LADIES AND GENTLEMEN, I

WILL ASK YOU, JUST OUT OFPOLITENESS, OUT OF

POLITENESS DO NOT CHEER FORME IN THE MIDDLE OF HER

ANSWER.

(LAUGHTER)>> YOU CANNOT-- THE REASON

WHY YOU CANNOT SEND THESEPEOPLE TO JAIL IS, HAVE

YOU EVER HEARD OF THEINVISIBLE HAND OF THE MARKET,

HAVE YOU HEARD OF THAT.

>> YEAH.

>> YOU CAN'T PUT HANDCUFFSON AN INVISIBLE HAND.

THE COPS CAN'T FIND IT SO IT'SUP TO THE INVISIBLE HAND OF THE

MARKET TO SAY THIS IS THE WAYYOU MAKE MONEY IS TO --

>> YOU ARE JUST PUSHING THEENVELOPE.

WHAT YOU CALL BREAKING THE LAWI CALL PUSHING THE ENVELOPE.

>> WELL, YOU COULD PUTHANDCUFFS ON PEOPLE WHO PUSH

THE ENVELOPE.

WHEN THEY BREAK THE LAW THEYDESERVE TO HAVE HANDCUFFS

THAT'S HOW IT SHOULD BE.

NOW THIS IS-- (LAUGHTER)

(CHEERS AND APPLAUSE)>> I SEE HOW THIS WORKS.

THIS IS WHAT THIS BOOK ISALL ABOUT.

>> A FIGHTING CHANCE.

>> IT'S ABOUT WHOSE SIDE THEGOVERNMENT IS GOING TO BE

ON.

>> OKAY.

>> IS IT GOING TO BE ON THESIDE OF THE LARGEST

FINANCIAL INSTITUTIONS ANDTHE LARGEST BANKS ON WALL

STREET, THE ONES THAT CANHIRE A LOT OF LOBBYISTS AND

LAWYERS, OR IS IT GOING TO

BE ON THE SIDE OF REALPEOPLE.

YOU KNOW WE-- (APPLAUSE)

>> WE CAN'T HAVE CAPITALISM IFTHERE AREN'T RULES.

NOBODY SHOULD BE ABLE TOSTEAL YOUR PURSE ON MAIN

STREET OR BE ABLE TO STEALYOUR PENSION ON WALL STREET.

>> THE OBVIOUS QUESTION ISARE YOU RUNNING FOR

PRESIDENT?

(LAUGHTER)>> NO, I'M NOT RUNNING FOR

PRESIDENT.

>> YOU'RE NOT RUNNING FORPRESIDENT, OKAY.

RIGHT NOW YOU'RE NOT RUNNING.

A LONG TIME BETWEEN NOW AND2016.

>> I'M NOT RUNNING FORPRESIDENT.

>> YOU'RE NOT RUNNING FORPRESIDENT, OKAY.

LAST QUESTION, ARE YOURUNNING FOR PRESIDENT?

(LAUGHTER)>> I'M NOT RUNNING FOR

PRESIDENT.

>> ALL RIGHT, THAT'S AMAYBE.

ELIZABETH WARREN, THANK YOUSO MUCH FOR JOINING ME.

SENATOR ELIZABETH WARREN.

THE BOOK IS A FIGHTINGCHANCE.

WE'LL BE RIGHT BACK.

THANK YOU SO MUCH.

>> Stephen: THAT'S IT FORTHE REPORT, EVERYBODY,

GOOD NIGHT.

(APPLAUSE)