This, my friends, is why we worked so damned hard to get Elizabeth Warren into the Senate, and on the Banking Committee.
Shot this morning at a Banking Committee hearing titled “Wall Street Reform: Oversight of Financial Stability and Consumer and Investor Protections,” this video demonstrates, better than any campaign ad ever could, just why it was so critically important that we get Professor Warren into office. Just listen to the way she goes after these folks… And these, remember, are the good guys… Not bad for her first day on the Committee.
If she’s this hard on regulators, just imagine how she’ll handle the bankers when they come before her.
In the above video, for those of you who didn’t watch it, Warren bluntly asks Mary Miller, Under Secretary for Domestic Finance, U.S. Department of the Treasury; Daniel Tarullo, Governor, Board of Governors of the Federal Reserve System; Martin Gruenberg, Chairman, Federal Deposit Insurance Corporation; Tom Curry, Comptroller, Office of the Comptroller of the Currency; Richard Cordray, Director, Consumer Financial Protection Bureau; Elisse Walter, Chairman, U.S. Securities and Exchange Commission; and Gary Gensler, Chairman, U.S. Commodity Futures Trading Commission, why it is that they’ve allowed the big banks to repeatedly buy their way out of trouble with relatively small settlements, instead of taking them to court, and having them answer for their actions, on the record, in front of the American people.
Here’s a quote:
“I want to note that there are district attorneys and U.S. attorneys who are out there everyday squeezing ordinary citizens on sometimes very thin grounds, and taking them to trial to ‘make an example,’ as they put it… I am really concerned that too-big-to-fail has become too-big-for-trial.”
It’s really no wonder the financial industry tried so desperately to keep her from office.