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Forum Post: Elizabeth Warren Smacks Down Wall Street Bankers

Posted 5 years ago on Feb. 16, 2013, 7:09 p.m. EST by quantumystic (1710) from Memphis, TN
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Published on Feb 15, 2013 "Sen. Elizabeth Warren's (D-Mass.) meeting with bank regulators Thursday left bankers reeling, after the politician questioned why regulators had not prosecuted a bank since the financial crisis.

At one point, Warren asked why big banks' book value was lower, when most corporations trade above book value, saying there could be only two reasons for it."*

Senator Elizabeth Warren slammed bank regulators by aggressively hammering one simple question: why have they not prosecuted a single bank since the financial crisis? Wall Street is reeling, perhaps they don't appreciate someone finally treating them like the crooks they are? Cenk Uygur and Ben Mankiewicz break it down.

*Read more from Luke Johnson/ Huffington Post: http://www.huffingtonpost.com/2013/02...



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[-] 2 points by TrevorMnemonic (5827) 5 years ago

I swear I heard crickets after she asked them to tell her about the last few times they had taken the biggest financial institutions on Wall Street to trial.

After 8 seconds of silence Tom Curry goes on to basically say "That's not what we do. When they break the law, we politely ask them to fix it and hope they do."


[-] 1 points by NVPHIL (664) 5 years ago

Great video. I saw this earlier today and what struck me was that the regulators couldn't remember when they last took a bank to trial. She is right when she says to big for trial

[-] 1 points by quantumystic (1710) from Memphis, TN 5 years ago

too big to fail, too big to jail.

[-] 1 points by NVPHIL (664) 5 years ago

I say too big to exist.

[-] 1 points by misery64 (3) from Roxbury, CT 5 years ago

I agree with that these big banks should be too big to exist...along with big box stores, the likes of WalMart and giant corporations. There were laws at one time to prevent these large monopolies and I think these laws should be put back in place. There is nothing at all good that these huge banks and businesses produce. They create slave shops overseas and here in the states they pay the absolute least amount they are able to get away with. The banks pay a bit more but their fees and manipulation of transactions to create overdrafts is disgusting.

[-] 1 points by NVPHIL (664) 5 years ago

Agreed. And that doesn't mention credit cards with insane interest rates. I thought we as a society agreed that loan sharks are bad.

[-] 1 points by MattLHolck (16833) from San Diego, CA 5 years ago

no job

can't shop