Banter Voices

Elizabeth Warren Demolishes Banking Regulators

By Ben Cohen · February 15,2013

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It really is insane that the Securities and Exchange Commission and the Office of the Comptroller of the Currency (two agency that are supposed to hold banking institutions to account) are not bringing Wall St banks that have broken the law to trial. Thankfully, Elizabeth Warren is finally in a position to do something about this now she has a seat in on a Senate committee overseeing their agencies. The questioning she subjected two members of the above agencies yesterday was pretty brutal, leaving the recipients of her bluntness literally speechless. Sadly, this type of grilling is rare in American politics, at least when it comes to serious issues (unlike the Republican grandstanding over Benghazi and Chuck Hagel). But let’s be thankful that finally someone in government actually understands the ridiculous fraud that happens on Wall St on a daily basis and is at long last doing something about it:

Christopher Foxx

“we understand … that trials are expensive and we can’t dedicate huge resources to them”

Really? And how expensive is telling those who caused the crisis that their lawbreaking will have NO consequences going to be?
- http://profiles.google.com/rollotamasi13 Rollo Tamasi
  
  That’s the point she made if you listened past the portion you quoted.
  - Christopher Foxx
    
    I did listened to the whole thing, Rollo. Please don’t be presumptuous.
    
    She kept asking when a Wall St bank had been brought to trial to emphasize than none had been. But if her point is that it’s wrong for “too big to fail” to equal “can’t be tried”, then I really wish she hadn’t watered it down by starting with a statement where she said some trials shouldn’t happen.
http://www.facebook.com/profile.php?id=726750361 Paul Browne

I have to think we’re going to wind up with a stronger banking sector if they are held to good practices and not suffered to engage in wild speculation. And lying.
- Christopher Foxx
  
  That’s a really big “if”. And so far, I’ve not seen any real indication that they’re going to be held to anything.

Banter Voices

Elizabeth Warren Demolishes Banking Regulators

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