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  • Elizabeth Warren Embarrasses Hapless Bank Regulators At First Hearing

    http://www.huffingtonpost.com/2013/02/14/elizabeth-warren-bank-regulators_n_2688998.html

     

    WASHINGTON -- Bank regulators got a sense Thursday of how their lives will be slightly different now that Elizabeth Warren sits on a Senate committee overseeing their agencies.

    At her first Banking, Housing and Urban Affairs Committee 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.

    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.

     


  • #2

    BigMac5 wrote:

    http://www.huffingtonpost.com/2013/02/14/elizabeth-warren-bank-regulators_n_2688998.html

     

    WASHINGTON -- Bank regulators got a sense Thursday of how their lives will be slightly different now that Elizabeth Warren sits on a Senate committee overseeing their agencies.

    At her first Banking, Housing and Urban Affairs Committee 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.

    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.

     


    She embarrassed herself.

    You have to actually identify an individual that broke the law to go to "trial".

     

    They already have the ability to levy fines civil infractions against institutions (which is what violating compliance is) so they don't need to sue.

     

    Warren is a dip****************.

     

     

    Comment


    • mdwagner73
      mdwagner73 commented
      Editing a comment

      nedezero1 wrote:

      BigMac5 wrote:

      http://www.huffingtonpost.com/2013/02/14/elizabeth-warren-bank-regulators_n_2688998.html

       

      WASHINGTON -- Bank regulators got a sense Thursday of how their lives will be slightly different now that Elizabeth Warren sits on a Senate committee overseeing their agencies.

      At her first Banking, Housing and Urban Affairs Committee 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.

      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.

       


      She embarrassed herself.

      You have to actually identify an individual that broke the law to go to "trial".

       

      They already have the ability to levy fines civil infractions against institutions (which is what violating compliance is) so they don't need to sue.

       

      Warren is a dip****************.

       

       


      As usual, Ned misses the point. 

      "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,'"

      And the fact that Thomas Curry states that his agency has secured a large number of consent orders indicates that there was some evidence of wrongdoing that could have gone to trial.  She just wants to know why nobody has made an example of any of the Wall Street Banks.


    • lagger
      lagger commented
      Editing a comment

      nedezero1 wrote:

      BigMac5 wrote:

      http://www.huffingtonpost.com/2013/02/14/elizabeth-warren-bank-regulators_n_2688998.html

       

      WASHINGTON -- Bank regulators got a sense Thursday of how their lives will be slightly different now that Elizabeth Warren sits on a Senate committee overseeing their agencies.

      At her first Banking, Housing and Urban Affairs Committee 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.

      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.

       


      She embarrassed herself.

      You have to actually identify an individual that broke the law to go to "trial".

       

      They already have the ability to levy fines civil infractions against institutions (which is what violating compliance is) so they don't need to sue.

       

      Warren is a dip****************.

       

       


      Coprorations are people  and should face similar consequences for crimes, fraud and malfeasence


    • Sloppy Santa
      Sloppy Santa commented
      Editing a comment

      nedezero1 wrote:

      BigMac5 wrote:

       


      She embarrassed herself.

      You have to actually identify an individual that broke the law to go to "trial".

       

       

       


      I thought corporations were persons...???


  • #3
    Lol Ned: what's the problem here? You like people going after the government unless its a Dem? Or you don't like the idea of anyone going after the banks?
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    Comment


    • BigMac5
      BigMac5 commented
      Editing a comment

      guido61 wrote:
      Lol Ned: what's the problem here? You like people going after the government unless its a Dem? Or you don't like the idea of anyone going after the banks?

      The guys is such and infantile hypocrite. 


    • Philter
      Philter commented
      Editing a comment

      guido61 wrote:
      Lol Ned: what's the problem here? You like people going after the government unless its a Dem? Or you don't like the idea of anyone going after the banks?

       

      Ned is a banker.  That will tell you everything you need to know.

       

      We will see prosecutions this term.  Looking forward to them.


  • #4

    So far a lot of ignorant emotional blathering but not one mention of a "crime".

    When someone can cite one infraction against federal, or state law, get back with me.

     

    Until then, Warren is a dip****************, and so are most of the ignorant lefty idiots in this thread that likely can't even balance their own checkbooks.

     

     

     

    Comment


    • savoldi
      savoldi commented
      Editing a comment

      nedezero1 wrote:

      So far a lot of ignorant emotional blathering but not one mention of a "crime".

      When someone can cite one infraction against federal, or state law, get back with me.


      Think maybe they paid out all those settlements because there were no infractions on their part, brainiac? I'd say that's pretty much the equivalent of a plea bargain, wouldn't you? Run a traffic llight and they catch you, that's an infraction of the law. Pay the fine and you're agreeing that it is. See how that works?



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