Sen. Elizabeth Warren Questions Regulators’ Willingness To Prosecute Wall Street Banks

[alp227]

Source: Think Progress

Massachusetts Sen. Elizabeth Warren (D) isn’t letting regulators off the hook for their lack of prosecutions of Wall Street banks in the wake of the financial crisis. After using her initial Senate Banking Committee hearing to press regulators about whether big banks are “too big to trial,” Warren is doing so again — this time in a letter to the Securities and Exchange Commission, the Justice Department, and the Federal Reserve.

The letter questioned regulators’ willingness to pursue settlements instead of prosecutions, and asked them to provide any analysis to justify that practice, The Hill reports:

“I believe strongly that if a regulator reveals itself to be unwilling to take large financial institutions all the way to trial — either because it is too timid or because it lacks resources — the regulator has a lot less leverage in settlement negotiations,” Warren wrote in the letter.

“If large financial institutions can break the law and accumulate millions in profits and, if they get caught, settle by paying out of those profits, they do not have much incentive to follow the law.”

Read more: http://thinkprogress.org/economy/2013/05/14/2011911/sen-warren-questions-regulators-willingness-to-prosecute-wall-street-banks/

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story also reported elsewhere:
http://www.salon.com/2013/05/14/warren_pushes_on_failure_to_prosecute_banks/
http://thehill.com/blogs/on-the-money/banking-financial-institutions/299533-warren-asks-regulators-to-justify-not-taking-wall-street-to-trial

[napi21]

1. OH that there should be more like her in both the House & the Senate!

I loved her first bill last week, to get the Gov't to lend $$ to students at the same interest rate as they give to banks. Npne of the other critters, Dem nor Pub. in either house have ever propoosed a bill so logical, short, and understandable. Go get 'em Loz...we're all with ya!

[OnyxCollie]

2. "One of these days,

thought Winston with sudden deep conviction, Syme will be vaporized. He is too intelligent. He sees too clearly and speaks too plainly. The Party does not like such people. One day he will disappear. It is written in his face." -George Orwell, 1984.

[rhett o rick]

3. The thing that stands out to me about Senator Warren, is how very different she is than other

Democratic Senators. Why is that? Why is she sooo very different? I recommend that you support Progressive organizations and not the DNC, DCCC, and the DSCC. We must elect more like Senator Warren or die trying. Do not settle for the Blue Dog DINO's.

[RobertEarl]

5. Bet Teddy Kennedy is happy

She has his seat in the Senate and that is probably what makes her so different. She's doing things Ted only dreamed of doing.

[riderinthestorm]

7. [phone]. nt

[mtasselin]

4. refreshing

It is so refreshing to see a public official do things for the American people. Now if we could some how get a whole bunch more like Senator Warren, the good ole USA could again start leading the world in science, math, and pretty much everything that we once did.

[supercats]

6. Senator Warren Keeps Impressing Me!

She walks her talk and that is so impressive coming out of Washington in this era. As the other comments suggest we need a whole lot more progressives in the senate and house. I'll say it again, I hope she runs for president in 2016.

[Left Coast2020]

8. Since I was going to post this elsewhere....

...I might as well put it here.

Senator Warren: A great Investment.


http://readersupportednews.org/off-site-opinion-section/54-54/17424-focus-elizabeth-warren-a-great-investment

I hope there is a day soon she announces something big. I have a feeling she wants to make a few of these a-holes do a perp-walk. Fingers crossed.

[fujiyama]

9. What kind of Senator is she?

Looking out for the 99%...

[Ruby the Liberal]

10. I wish I could rec this 1000 times.

Thank you, Senator.

[grahamhgreen]

11. How is this not on the front page?