While her former opponent, Scott ‘Bought Bagger’ Brown is fulfilling his calling as a professional liar on the Republican Ministry of Propaganda, Faux Noise, Elizabeth Warren is doing exactly what we hoped she would do, using her vast knowledge of the industry expose abuse by Banksters and regulators.
Massachusetts Sen. Elizabeth Warren (D) used her debut on the Senate Banking Committee to question financial regulators about the lack of accountability for Wall Street banks’ role in the financial crisis, challenging them to name the last time a Wall Street bank was taken to trial over allegations of fraud and other crimes instead of being allowed to settle out of court.
“What I’d like to know is, tell me a little bit about the last few times you’ve taken the biggest financial institutions on Wall Street all the way to a trial,” Warren asked the regulators. But none provided a specific answer. That led Warren to wonder if Wall Street banks had become “too big for trial”…
…Prosecution of financial fraud hit a 20-year low in 2011, even amid broad findings of fraud that took place at the biggest banks… [emphasis added]
Inserted from <Think Progress>
Here’s the video:
Warren made a valid point that regulators consider that TBTF also means too big for trial. If that is truly the case, then TBTF is too big to exist. The individual criminal Banksters are NOT too big to jail!
16 Responses to “Warren Is Doing Her Job!”
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May God bless and protect Elizabeth Warren and all like her! I agree completely with her – and with you TC "Warren made a valid point that regulators consider that TBTF also means too big for trial. If that is truly the case, then TBTF is too big to exist. The individual criminal Banksters are NOT too big to jail!" We have got to start jailing the guilty all over the world – to say that they are doing so much damage everywhere is to understate the case grossly – people's lives have been ruined all over the place and some have even committed suicide – the banksters are responsible. And guess what – after we all bailed them out and are paying for their mistakes and arrogance and will be doing so for many a year – they are getting bonuses again!
AMEN!
She's a gem!
(Hey, that's kind of a rhyme)
Amen to what Nameless said!
It was an absolute pleasure watching her pick these vultures apart. No one could give her an answer. What fools!
Patty they could easily give an answer, but they did not want to admit that they haven't taken a Bankster to trial.
I watched and wanted to Cheer !!!
Go for it!
Can you imagine a Hillary-Warren ticket in 2016?
I sure as hell can!
That sounds great to me!
I don't think there is much of a chance that the Democrats would run an all-female ticket. Personally, I would rather see Warren head the ticket.
I would rather see Warren as Secretary of the Treasury than VP.
She didn't get an answer to any of her questions because they had no answer. As far as I am aware, not one Wall Street Banker has been prosecuted for the things they did to destroy this economy.
You are correct.
Warren made the financial regulators look like puppets on a string — dancing around her questions with nonsense!
TBTF is NOT TBFT!
A number of months ago, I commented on HSBC and the penalty that they had to pay in regards to their lax compliance régime. People, ie regulators and the Bank, were saying that to prosecute the Bank would mean the Bank going out of business throwing tens of thousands out of work, so they all settled on a penalty, a sizable one, but one that would mean the Bank could carry on. As evidence that it was taking steps to correct the situation, the Bank fired a fully capable person, Leslie Midzain, a Canadian solicitor who had been promoted to head compliance for HSBC North America blaming the problems on her lack of oversight and ineptitude. But I firmly believe that Leslie was a pawn because she had no or limited authority to make policy. At that level, such things rest with executive management and the Board of Directors. To my way of thinking, the CEO or the Chairman of the Board should have been the one taken to trial and jailed. There are changes in leadership all the time, but that does not mean that a company fails. These executives are the ones that must be held accountable for their decisions. The buck stops there! To me, this is a key reason why corporations are NOT people.
TBTF ≠ (does not equal) TBFT
Love Warren. She is sharp, tenacious, and on point!
We have a historical example that kind of gives the lie to TBTF. Think back to all the wailing and gnashing of teeth (I don't think they went so far as to rend their garments – after all, Armani is expensive) that went on when Ma Bell got broken up. That was supposed to destroy the phone system in the U.S. and set communication back 20 years and end civilization as we know it.
Very well said, and John is right on too!