Elizabeth Warren

The IRS estimates, as I understand it, that there is about $400 billion left on the table that is not collected.

I think we have to recognize that 5 years after the recession we still have 40 percent of unemployed people looking for a job for more than 6 months.

I appreciate it, and I appreciate you being here to talk about this.

I am told that debt collectors, not infrequently, will ask if people have a 401(k) and recommend that they tap the 401(k) in order to stop the debt collection calls.

I think that's what I read in your testimony.

This is a very important meeting and I thank you all for being here.

I don't know with a new baby and another baby on the way whether or not you're going to grow another generation of pension experts.

It's a God-awful idea.

I just want to express my very strong support for that, and I assume strong support from our panel.

Fair point, although we might just say you need a comprehensive solution here that watches where the money is going.

Don't eliminate the loans. Keep restrictions in place.

There was a broad democratization of financial products to consumers throughout the 20th century, and student loans were one of those.

I think Senator Martinez said, 'Wait a minute, I remember the FDIC insurance model. I think they did a pretty good job.'

I actually looked at some of those things--are complicated, very difficult to read and understand and to evaluate the risks associated with transactions there.

We need a strong, effective consumer agency. We need an honest consumer credit market, and that happens when we get a Director confirmed.

I am particularly concerned that whatever reforms we end up doing with the GSEs that it not disadvantage the small banks and credit unions in getting access to the funds they need.

I just wondered if any of you have dealt with or thought about the implications of using data tagging on mortgages

I do think... infrastructure and standards and transparency that should apply to all participants in the market.

We have got to get this resolved, and we have got to get it resolved now.

The urgency of the moment, we have got to get this resolved, and we have got to get it resolved now.

I appreciate the point, Mr. Rutigliano, but I want to go back to the question I had earlier.

When productivity increases, when profits increase, is there a reason that the minimum wage should not increase as well?

A sustainable wage actually reduces the cost for the employers, and keeps people employed.

Had the minimum wage grown at the same pace of incomes going to the top 1 percent of the taxpayers, the minimum wage would have stood at $33 an hour before the recession in 2007.

What happened to the other $14.75? It sure did not go to the worker.