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cal04

(41,505 posts)
Thu Apr 11, 2013, 04:59 PM Apr 2013

Elizabeth Warren takes on the regulators

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(snip)
During the hearing, Warren pressed officials from the Office of the Comptroller of the Currency and The Federal Reserve for answers about how frequently banks broke the law, only to discover that regulators didn’t know the exact number before reaching their settlement and were now unwilling to publicize the error rate. “You’re saying that the [you] did not have an estimate in mind of how many banks had broken the law and how many home owners were the victims of illegal activities?” Warren asked in disbelief. She pressed for public disclosure, but was told that the information about banks’ illegal activities is proprietary and may not ever be released:

WARREN: So you have made a decision to protect the banks but not a decision tell the families who have been illegally foreclosed against?

RICHARD ASHTON (FEDERAL RESERVE): We haven’t made a decision about what information we would provide to individuals.

WARREN: So I just want to make sure I get this straight. Families get pennies on the dollar in the settlement for having been the victims of illegal activities or mistakes in the banks’ activities. You now know individual cases where the banks violated the law and you’re not going to tell the homeowners or at least it’s not clear if you’re going to do that?

http://thinkprogress.org/economy/2013/04/11/1855561/elizabeth-warren-tears-into-federal-regulators-for-shielding-big-banks/
17 replies = new reply since forum marked as read
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Elizabeth Warren takes on the regulators (Original Post) cal04 Apr 2013 OP
Give those bastards hell Elizabeth. Autumn Apr 2013 #1
Corruption Magleetis Apr 2013 #2
Gots Dayum! I love tha lady! Arctic Dave Apr 2013 #3
formidable 02potato Apr 2013 #4
Huge K&R Iwillnevergiveup Apr 2013 #5
Yes - And Where Is The Obama Justice Department In All Of This? cantbeserious Apr 2013 #16
see, at this point in our History, Volaris Apr 2013 #6
Well Said! creativebliss Apr 2013 #15
I'll bet the bankers have . . . another_liberal Apr 2013 #7
So VERY refreshing to see this kind of pursuit Plucketeer Apr 2013 #8
knr Douglas Carpenter Apr 2013 #9
Investigate The Wizard Apr 2013 #10
That's why we in Massachusetts sent her to Washington. geefloyd46 Apr 2013 #11
Thanks you... Hopefully you can keep her there so she can help the rest of us become midnight Apr 2013 #14
I'm happy to know now that she knows about this. Left Coast2020 Apr 2013 #12
Banks and congress blame us for the disaster they profit from. midnight Apr 2013 #13
God I love watching those corporate kissasses squirm when she grills them. WhoIsNumberNone Apr 2013 #17

Iwillnevergiveup

(9,298 posts)
5. Huge K&R
Thu Apr 11, 2013, 05:48 PM
Apr 2013

This needs all the daylight shining in on it as possible. Looks like the banks have absolutely no intention of doing the right thing for illegally foreclosed on homeowners.

Those guys were just pathetic!

Volaris

(10,260 posts)
6. see, at this point in our History,
Thu Apr 11, 2013, 06:03 PM
Apr 2013

so much of this kind of thing should be happening on Capitol Hill on a daily basis that it simply won't fit in the Newspapers.

This is what EVERY Oversight testimony hearing should look like, could you magine if it actually did?

CIA
Oil and Energy (tell Exxon executives "youre UNDER OATH, or you're going to jail&quot
Health and Human Services and Education (put Rhee up there, and let that bitch twist a while)
Treasury/Fed (lets start with "HOW much money does SocSec contribute to the National Debt, Mr. Secretary?)
Pentagon...yeah that might have to have its own day...

Every elected Dem should take note. THIS is what Useful Government looks like. Otherwise, I can just vote for the Republican, and get what I have now.

creativebliss

(69 posts)
15. Well Said!
Sat Apr 13, 2013, 01:25 PM
Apr 2013

This certainly did not get the press it deserves! And, imagine if it did...along with the other corrupted culprits you mentioned...

 

another_liberal

(8,821 posts)
7. I'll bet the bankers have . . .
Thu Apr 11, 2013, 06:05 PM
Apr 2013

I'll bet the bankers have tried everything from beating-up her paper boy to threatening her dog's life to frighten Warren. They would most likely poison her food if they thought it would be possible to do without getting caught. She must really scare the hell out of them.

 

Plucketeer

(12,882 posts)
8. So VERY refreshing to see this kind of pursuit
Thu Apr 11, 2013, 06:33 PM
Apr 2013

This PLAIN language - cut the bullshit - quest for the elusive straight answer. And to think....... These slicksters under interrogation........ WORK FOR US!

midnight

(26,624 posts)
14. Thanks you... Hopefully you can keep her there so she can help the rest of us become
Sat Apr 13, 2013, 07:37 AM
Apr 2013

better informed...

Left Coast2020

(2,397 posts)
12. I'm happy to know now that she knows about this.
Sat Apr 13, 2013, 12:22 AM
Apr 2013

This topic was from segment last Tuesday on Chris Hayes' show. Today (friday), this hearing, along with Senator Sherod Brown grilled these goons. I posted in another thread that someone should notify her about this. She knows now.

Mass. You are so fortunate to have a consumer fighter in your corner. I was watching for or looking for part of when do these bastards go to jail for illegally foreclosing on someones home and destroying a family. That part never came up. How discusting.

midnight

(26,624 posts)
13. Banks and congress blame us for the disaster they profit from.
Sat Apr 13, 2013, 07:36 AM
Apr 2013

I see why they don't want us to have the information to help us survive this fraud....

WhoIsNumberNone

(7,875 posts)
17. God I love watching those corporate kissasses squirm when she grills them.
Mon Apr 15, 2013, 02:57 PM
Apr 2013

I am so glad she's a senator and won't have to start worrying about being re-elected for at least another four years. In the meantime, I'd like to authorize a fund to keep her supplied with six inch stiletto heels for when she's got her foot up their ass.

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