Elizabeth Warren Comes Out Swinging Against Banks

[WilliamPitt]

Elizabeth Warren Comes Out Swinging Against Banks
By Sahil Kapur
TPM

March 11, 2013

Progressives fell in love with Elizabeth Warren because they saw in her a fighter — someone who would break from Washington’s longstanding tradition of cozying up to big banks and instead hold them accountable for bad behavior. She hasn’t disappointed.

Just two months into her new job as Massachusetts senator, the former consumer advocate has used her perch to publicize and rail against shady practices by financial institutions and what she views as leniency from the regulators tasked with overseeing them.

The latest example came last Thursday during a Banking Committee hearing, when Warren demanded answers from a panel of federal regulators as to why the multinational bank HSBC got off with a fine for money laundering for Mexican drug cartels — along with violating international sanctions against several countries, including Iran and Libya — when people caught with drugs go to jail for life.

“No one individual went to trial, no individual was banned from banking and there was no hearing to consider shutting down HSBC’s activities here in the United States,” Warren said. “So … what does it take? How many billions of dollars do you have to launder for drug lords and how many economic sanctions do you have to violate before someone will consider shutting down a financial institution like this?”

The rest: http://tpmdc.talkingpointsmemo.com/2013/03/elizabeth-warren-comes-out-swinging-banks-regulators.php

One of the best votes I've ever cast in my life, if not the best.

And she's just getting started.

[msongs]

1. the attorney general of the USA believes big crimes should not be prosecuted, Ms Warren nt

[forestpath]

4. +1

[99Forever]

2. There aren't but a few decent ...

... honest people in Washington DC, the rest are scum. Senator Warren is near the top of the list of the very best.

[bigtree]

3. she gets right to the heart of matters

. . . directed at the administration, no less. Hope they're listening.