Elizabeth Warren Comes Out Swinging Against Banks

[unhappycamper]

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



Elizabeth Warren Comes Out Swinging Against Banks
Sahil Kapur March 11, 2013, 1:25 PM

~snip~

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?”

When her questions were repeatedly dodged by Treasury’s overseer of financial crimes David Cohen and Federal Reserve governor Jerome Powell, it set her off.

“If you’re caught with an ounce of cocaine, the chances are good you’re going to go to jail. If it happens repeatedly, you may go to jail for the rest of your life,” Warren said. “But evidently, if you launder nearly a billion dollars for drug cartels and violate international sanctions, your company pays a fine and you go home and sleep in your own bed at night — every single individual associated with this. I just — I think that’s fundamentally wrong.”

[LiberalEsto]

1. I love Ms. Warren - she's right on target

about who the real enemies of democracy are.

[mbperrin]

2. I want a Warren, too!!!!

All I got was a crazy Ted Cruz and an old corporate whore, Cornyn.

WHHHHHHHHHHHHHHYYYYYYYYYYYYYYYYYY can't IIIIIIIIIIIIIIIIII have a Warren?????????????