Elizabeth Warren and banks

I love this:

On Thursday, Warren urged regulators to step up the legal actions.

“There are district attorneys and US attorneys who are out there every day squeezing ordinary citizens on very thin grounds and taking them to trial in order to make an example,” she said.

As for taking on banks, she added, “I’m really concerned ‘too big to fail’ has become ‘too big for trial.’ That just seems wrong to me.”

Here’s the video:

Warren pushed to establish the Consumer Financial Protection Bureau, but was blocked from becoming its director by Republicans and the financial industry. The financial industry then spent a lot of money to defeat her in her Senate run. Now they get to face her from the Senate where she has a much bigger audience when she wonders why more bankers aren’t in jail and why Republicans filibuster to weaken the CFPB:

Working alongside Sens. Sherrod Brown (D-Ohio) and Jack Reed (D-R.I.), Warren held news conferences Wednesday and Thursday calling on Republicans to bring Cordray’s confirmation to a vote. In response to GOP claims that the bureau operates without controls, the senators noted that CFPB can be overruled by the Financial Stability Oversight Council and has a statutory cap on its funding.

“It is past time for an up-or-down vote,” Warren said Thursday. “The financial industry needs certainty, and families need to know there is a strong and independent watchdog on their side in Washington.”

Despite the fact that the financial industry has done really well under Obama, they really don’t like him–he seems to have hurt their feelings. Maybe Warren will make them appreciate that Obama has been extremely nice to them given that they crashed the world economy.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: