Sen. Warren & banking committee call out

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She is a national treasure. She asks the regulators how many times large Wall St firms have been brought to trial lol

Senator Elizabeth Warren's First Banking Committee Hearing - YouTube

let the rw commercial bank fluffers come out & denounce her because she's a Dem

That might not set too well with the left wing commercial bank fluffers.

A Wasted Crisis? Why the Democrats did so little to change Wall Street | New Republic

"Although Democrats saw the 2008 crisis as requiring new rules, the party’s leaders had championed financial deregulation during the 1990s and were eagerly and successfully competing with Republicans for the industry’s campaign contributions. In 1999, Bill Clinton and his economic advisers, as well as top Democrats in Congress, had supported the legislation repealing Glass-Steagall, the Depression-era law segregating commercial banks (and their federally insured deposits) from investment banking. “Removal of barriers to competition,” Clinton had declared on signing the repeal, “will enhance the stability of our financial services system.” Removing those barriers did exactly the opposite. Clinton had also signed legislation in 2000 barring any regulation of financial derivatives, which was the market that would be at the center of the crisis eight years later. In 1995, Senator Chris Dodd of Connecticut had even played a leading role in overcoming Clinton’s veto of legislation that fulfilled one item in the Republicans’ Contract with America by making it more difficult to prove private securities fraud. A longtime booster of Wall Street who became chair of the Senate Banking Committee in 2007, Dodd would have a critical role in financial reform after the crisis. And Barack Obama brought back to the top ranks of economic policy-making the very people who had advised Clinton to support financial deregulation........."

Democrats haunted by corporate ties - Jonathan Allen and Eamon Javers - POLITICO.com

"President Barack Obama and congressional Democrats are promising a climactic clash with Wall Street, but there’s a complication in their battle plan: The Democratic Party is closer to corporate America — and to Wall Street in particular — than many Democrats would care to admit.


Former White House counsel Greg Craig has just signed on as an institutional Sherpa for Goldman Sachs, the iconic financial firm facing fraud charges from the Securities and Exchange Commission.


Former House Democratic leader Dick Gephardt lobbies for Goldman Sachs, Visa and the coal industry. Former Senate Democratic leader Tom Daschle — Obama’s first choice to head Health and Human Services — is an adviser for a lobbying firm that represents Charles Schwab, Comcast, Lockheed Martin, Verizon and a host of other corporate interests.


Attorney General Eric Holder once lobbied for Global Crossing — sometimes described as the Democratic Enron — and White House chief of staff Rahm Emanuel made eight figures in a little more than two years as the Chicago-based managing director at Wasserstein Perella & Co. between jobs as a senior aide in President Bill Clinton’s White House and as the congressman representing Illinois’s 5th District.


And the Democrats rode to their majorities in the House and the Senate on a wave of cash Emanuel and New York Sen. Chuck Schumer helped them raise from Wall Street. Earlier this month, a hedge fund manager at the center of the Goldman Sachs fraud case held a fundraiser for Schumer in New York.


“It’s pathetic,” Sen. Bernie Sanders, a liberal Vermont independent who caucuses with the Democrats, said of news that Goldman Sachs has hired Craig. “But it’s what goes on around here."............”

No surprise at all. But we start from the outside and work our way in. There's a new sheriff in town. If people clean up their act by the time we get that far in there won't be any trouble. Otherwise Fauxcohontas put an arrow in yer ..er.. binder.

 

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She makes a good point about the government's lack of leverage in these negotiations if they are never taking them to court. She also makes a good point about the information Congress can get if they do get them into court.

The point she makes about their value seems a bit speculative but worth keeping an eye on.

Corporations commit crimes that make them money and if the punishment is small enough they can still make money on the exchange. I personally don't think corporations should get away with stealing millions of dollars just because they have good lawyers.

yep, a slap on the wrist & a fine for doing stuff the 99% would DEFINITELY do jail time for.