Via America’s Lawyer: Mike Papantonio and Trial Lawyer Magazine editor Farron Cousins discuss Elizabeth Warren and the looming threat she poses to Wall Street and Big Tech, should she win the Democratic nomination. A far throw from establishment Democrats protecting the interests of corporations, Warren’s promise to break up corporate behemoths has managed to splinter support among the tech community as well as the Democrat donors whose allegiances ultimately lie with their own bottom lines.
*This transcript was generated by a third-party transcription software company, so please excuse any typos.
Mike Papantonio: Senator Elizabeth Warren’s making lots of enemies while running for president, and that’s actually a good thing for her campaign. I love the enemies that Elizabeth Warren is making. That list that I just gave you, those are her enemies.
Farron Cousins: Right.
Mike Papantonio: Was it Zucker with CNN came out and said, we got to stop Elizabeth Warren?
Farron Cousins: Mark Zuckerberg.
Mike Papantonio: Mark, Mark…
Farron Cousins: Facebook, yeah.
Mike Papantonio: Mark, yeah, Mark Zuckerberg comes out on Facebook, we’ve got to stop Elizabeth Warren because she’s interested in the antitrust issues for all these social media organizations. And if we’re not careful, she’s going to get her way. So Wall Street is spending huge amounts of money already trying to make sure that Elizabeth Warren is not the person that ends up in the primaries. Look, there’s only two candidates that are going to make it, in my mind, that we could actually live with, Bernie Sanders and Elizabeth Warren. They’re trying to take both of them out. Give me your take.
Farron Cousins: Well, it’s really interesting what’s happening. You have the folks on Wall Street, the alleged Democrats on Wall Street, which they are major democratic donors and they flat out came out and told CNBC, listen, we are Democrats. We do not like Donald Trump. He is bad for the market. But I promise you this, even as Democrats, if you make Elizabeth Warren the nominee, we’re putting our money behind Trump because Elizabeth Warren wants to come in and enforce regulations. So does Bernie Sanders.
But while they are kind of afraid of Bernie Sanders, I don’t think at the moment they actually view him as somebody that’s gonna win the nomination. So they’re focusing most of their hatred on Elizabeth Warren. The lobbyists are coming out against Elizabeth Warren. Mark Zuckerberg and the social media people because she said, we’re going to break you up and you can’t run 800 different businesses and gobble up the small ones.
Mike Papantonio: Okay. Let me read what Zuckerberg said. I mean, he’s, he holds this meeting with his employees, asking them to create a, to create this big push against Elizabeth Warren. What, however they can do it. Get busy doing that. Here’s what he says. You have someone, this is Zuckerberg. We, you have someone like Elizabeth Warren who thinks the right answer is to break up the companies. If she’s elected president, we got an issue. We’ve got a big challenge ahead of us. So what he’s talking about, the reason he’s already spending money against her, the reason he’s, he’s gaming, already gaming Facebook against Elizabeth Warren and against Bernie Sanders.
The reason he’s doing that, the reason Twitter’s doing that, the reason Amazon’s doing that is they’re worried about a president that might actually do what needs to be done and that is to break up these monopolies. They’re no different than the railroad monopolies that existed in the 20s are they?
Farron Cousins: Right. And, you know, especially when you take a company like Amazon, like you just mentioned, what are they? Are they a place to buy goods and clothing? Are they a place that’s gonna run security systems? Are they in advertising? Are they a military contractor? Are they a cloud computing service? The answer right now is they’re all of them and that’s the problem. And they gobble up these smaller companies who come in and do these things and then they become these, you know, behemoths and Elizabeth Warren is just simply saying, listen, no more behemoths. We don’t need one company running 15 things. How about 15 companies.
Mike Papantonio: Doesn’t it freak you out when you see Progressive’s coming to the aid of Mark Zuckerberg? When you say, oh, they can’t mess with my Twitter. You know, we can’t break up Facebook. We got to, look, let me put this in perspective. Facebook the fine of $5 billion by the federal trade commission. You remember that? Federal trade commission says that you, you have stomped on privacy issues. You’re going to fine $5 billion. That was like big deal. That was a, a no event for Mark Zuckerberg. Then $100 million from the SEC where they’re sharing information about people that are on site, they’re selling it to people.
They’re giving your information to advertisers so they can make you crazy with advertisers on whether it’s your, your telephone, whether it’s your iPad, whether it’s your television. So all of a sudden, I don’t, I don’t get it. I don’t get this idea where Progressive’s come out and say, oh, social media is so important. We can’t mess with Zuckerberg. You’ve heard that haven’t you?
Farron Cousins: I have and it’s a lot of coming from more of the kind of centrist Democrats. They think Zuckerberg is their friend. They think Zuckerberg is like them, a corporate Democrat. But the truth is this guy is in it for himself. He will support whatever candidate, whatever party is going to put more money back into his pocket. And there is a distinction here I want to make. These, these, the Zuckerbergs, the Wall Streets, they’re not afraid of Elizabeth Warren because she may increase their taxes, believe it or not they actually don’t care about that too much. What they care about is she wants to come in and just enforce the rules that are on the books because that hasn’t been done in decades. It hasn’t been done probably since the 70s.
Mike Papantonio: Most viable candidates out there, Bernie Sanders and Elizabeth Warren, you watch these flying monkeys go after them. They want Biden because Biden is just a repeat of Hillary Clinton.