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Forum Post: Elizabeth Warren to Obama Administration: Take the Banks to Court, Already!

Posted 1 year ago on May 17, 2013, 11:35 a.m. EST by GirlFriday (17435)
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On Tuesday, fierce consumer advocate and needler of banks Sen. Elizabeth Warren (D-Mass.) called out Wall Street regulators for their habit of giving tepid punishments to misbehaving banks, and asked the agencies to justify their policy of settling with the wrongdoers out of court.

Warren sent a letter to the Justice Department, as well as to the Securities and Exchange Commission and the Federal Reserve, asking them for evidence on how a settlement that doesn't require a bank to admit guilt would be better policy than taking the bad apple to trial. If regulators at least show that they are willing to play tough, she argued, it will help deter bad behavior and allow regulators to negotiate bigger fines in the event of a later settlement.

Yep

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[-] 3 points by DKAtoday (26682) from Coon Rapids, MN 1 year ago

"If you're caught with an ounce of cocaine, you're going to go to jail," Warren said. "But if you launder nearly $1 billion for international cartels…you go home."

And people wonder(?) why we have a culture of white collar crime.

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[-] 1 points by DKAtoday (26682) from Coon Rapids, MN 1 year ago

Makes 4 a good Tweet - spread the news - the corp(se)otocRATcy won't - they will just put out distractions and spin.

DKAtoday ‏@DKAtoday

Elizabeth Warren to Obama Administration: Take the Banks to Court, Already! http://www.motherjones.com/mojo/2013/05/elizabeth-warren-obama-put-bad-banks-trial … via @motherjones

Do what NEEDS DOING

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