Elizabeth Warren EMBARRASSES Bank Regulators At First Hearing
Sign in to YouTube
Sign in to YouTube
Sign in to YouTube
Published on Feb 14, 2013
warren bank hearing | Warren questioned top regulators from the alphabet soup that is the nation's financial regulatory structure: the FDIC, SEC, OCC, CFPB, CFTC, Fed and Treasury. Elizabeth Warren is the truth!!!! show your support http://www.warren.senate.gov/
The Democratic senator from Massachusetts had a straightforward question for them: When was the last time you took a Wall Street bank to trial? It was a harder question than it seemed.
"We do not have to bring people to trial," Thomas Curry, head of the Office of the Comptroller of the Currency, assured Warren, declaring that his agency had secured a large number of "consent orders," or settlements.
"I appreciate that you say you don't have to bring them to trial. My question is, when did you bring them to trial?" she responded.
"We have not had to do it as a practical matter to achieve our supervisory goals," Curry offered.
Warner turned to Elisse Walter, chair of the Securities and Exchange Commission, who said that the agency weighs how much it can extract from a bank without taking it to court against the cost of going to trial.
"I appreciate that. That's what everybody does," said Warren, a former Harvard law professor. "Can you identify the last time when you took the Wall Street banks to trial?"
"I will have to get back to you with specific information," Walter said as the audience tittered.
"There are district attorneys and United States attorneys out there every day squeezing ordinary citizens on sometimes very thin grounds and taking them to trial in order to make an example, as they put it. I'm really concerned that 'too big to fail' has become 'too big for trial,'" Warren said.
A Warren constituent, open-Internet activist Aaron Swartz, recently committed suicide after being hounded by federal prosecutors who reportedly said they wanted to "make an example" of him. Warren had met and said she admired Swartz and, after he died, expressed her concern by attending his memorial in Washington.
The financial regulators can blame, at least in part, Wall Street lobbyists (along with outgoing Treasury Secretary Tim Geithner and Senate Republicans) for their embarrassing turn at the hearing. Warren would have been on the panel herself representing the Consumer Financial Protection Bureau, instead of a sitting senator, if her nomination to head the agency hadn't been thwarted in 2011.
Standard YouTube License
- 6:51 Bill Maher Upsets Red Sox Fans With Boston Bombing Commentsby The Young Turks Featured 64,453
- 8:28 Elizabeth Warren Brings News Anchors To Kneesby The Young Turks226,658 views
- 14:13 Daily Kos- Elizabeth Warren turns the tables on Morning Joe Gotcha Panel, Aces Q.flvby michael steindel64,241 views
- 6:00 Elizabeth Warren : Classic Takedown of Geithner Over TARP Bailout (from 2009) - MUST SEE !!!by Marie Marr30,217 views
- 13:48 Senator Elizabeth Warren Grills Investigators Over Illegal Foreclosures FULL SEGMENTby Marie Marr14,722 views
- 10:04 Elizabeth Warren Explains the Financial Mess in Terms Anyone Can Understand!by BelvasDaughter71,838 views
- 10:33 Elizabeth Warren Schools CNBC Hacksby Sam Seder13,523 views
- 5:37 Elizabeth Warren Grills Ben Bernanke on 'Too Big to Fail'by djgabrielpresents55,777 views
- 7:14 Elizabeth Warren, Ben Bernanke Clash Over Bank Speculationby Lord Rothschild3,836 views
- 4:56 Elizabeth Warren: Why Isn't Minimum Wage $22?by TBecketAdams87,999 views
- 8:59 Drones Shot Down Over Texasby TheAlexJonesChannel641,833 views
- 11:30 Senator Elizabeth Warren: You Tube Sensation?by Marie Marr3,591 views
- 57:15 ELIZABETH WARREN vs SCOTT BROWN Massachusetts Senate Debate ROUND 2by wwwMOXNEWScom25,433 views
- 14:38 Peter Schiff Schools Clueless Liberals on the Federal Reserveby djgabrielpresents72,502 views
- 7:50 Elizabeth Warren "This Is Democracy!"by MOXNEWSd0tC0M12,289 views
- 7:35 Elizabeth Warren Banks Get Wrist Slaps While Drug Dealers Get Jail 3/7/2013by Les Grossman36,136 views
- 1:00:00 Elizabeth Warren - The Two Income Trap: Why Middle-Class Mothers and Fathers Are Going Brokeby MSLawdotedu67,067 views
- 6:06 Elizabeth Warren Asks Why Sallie Mae Is Ripping Off Taxpayers To Screw Over Studentsby Les Grossman13,486 views
- 57:37 The Coming Collapse of the Middle Class with Elizabeth Warrenby University of California Television (UCTV)938,201 views
- 8:21 Elizabeth Warren : Credit Card Industry Practicesby Marie Marr5,150 views
- Loading more suggestions...