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Alll good points by Elizabeth Warren, obvious questions but no answers.
Quote:
In her debut appearance today at a Senate Banking Committee hearing, Sen. Elizabeth Warren from Massachusetts made federal regulators uncomfortable when she asked a simple question: When was the last time you took a big Wall Street bank all the way to trial?
So the question I really want to ask is how tough are you? How much leverage do you really have in these settlements? And what I'd like to know is tell me a little about the last few times you've taken the biggest financial institutions on Wall Street all the way to trial? Anybody?"
"I'm really concerned too big to fail has become to big for trial" she later added.
Kudos. She is the scourge of supporters of deregulated trickle-down. They are already calling her "socialist" or anything similar you can think of - so far has this country drifted over 30 years. Wall Street banks, via deregulation, have been allowed to become "too big to fail and too big to jail". To prevent severe damage to the economy, they can, and must, depend on bailouts from the taxpayer when they fail.
It is hard to trust a woman that lies so often about her past. There are so many good, honest, hard working people out there that get shoved aside by people like her.
Sounds like when Ron Paul grilled Bernanke.
But when Paul tried to get some legislation through it got stopped dead in its tracks.
One person won't get much done unless they have the majority of Congress behind them.
The past 5 years have shown that Congress is not going to take the banks to task.
Instead we are seeing them settle for huge financial penalties paid to the government.
Sounds like when Ron Paul grilled Bernanke.
But when Paul tried to get some legislation through it got stopped dead in its tracks.
It's funny how that works isn't it? Ron Paul is the one who hitched up this wagon and rode it for over 10 years but he somehow is a kook. Warren trails behind and she is now a hero?
If she actually accomplishes anything I will give her credit but she has long been a part of the establishment and they aren't going to allow her to do anything.
People get all caught up in party affiliations. That's the real problem in this country.
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