Smart. Sharp. Funny. Fearless.
Friday, October 21, 2016

Elizabeth Warren May Get Some Help Taking On ‘Too Big To Jail’ Banks — From Conservatives

Elizabeth Warren May Get Some Help Taking On ‘Too Big To Jail’ Banks — From Conservatives

Attorney General Eric Holder made a shocking admission to Congress on March 6:

“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy.”

With these words, Holder confirmed the assumption many had made about why not one Wall Street executive was in jail for crimes related to the financial crisis: Not only are America’s banks “too big to fail” — bigger now than before the taxpayers had to bail them out –they’re also “too big to jail.”

Holder’s admission seemed to enrage freshman senator Elizabeth Warren (D-MA), who as a consumer advocate and a TARP watchdog has long been at odds with the big banks — which opposed both her nomination to lead the Consumer Financial Protection Bureau she created and her election to the Senate. The next day, she challenged Treasury officials to define a standard for shutting down banks that participate in drug laundering.

Warren’s efforts are not going unnoticed by Wall Street. “Bankers are bracing for the start of more severe anti-money laundering exams as regulators rework their standards and prepare to issue another round of guidance tackling the issue,” American Banker magazine reported last week.

But Warren’s focus isn’t just laundering, it’s the size of the banks that troubles her most.

In a post on her blog, Warren recently wrote, “When banks are too big to fail, too big to jail, too big for trial, too big to manage, too big to regulate, too big to shrink, and too big to reform… they are just too big.”

And Warren may have some unlikely allies in her efforts — conservatives.

Click here for reuse options!
Copyright 2013 The National Memo
  • Elizabeth Warren, (R-MA)? Something is wrong with this picture. Correction please.

    • She’s a Democrat, a very left leaning Democrat and we need as many of her as we can get.

      • I’ve had a thing for her since we read some of her research on consumer bankruptcy in law school a few years ago.

  • nobsartist

    She sure as hell will not get any help from Obama. He might lose a couple of board of directors seats that pay 2 mill per year to attend a couple of meetings if he does anything to help us regular folk.

    • mitchgam

      Can you name one, just one seat he has on ANY Board of Directors for ANY corporation?

      Can you name one, just one person making 2 million or even 1 million dollars a year due to their sitting on any Board of Directors for ANY corporation?

      • nobsartist

        First off, as President, he is not on any board of directors. And I can name many people on boards making 2 million per year. I will bet you cant.
        Plus, I will bet you have never met anyone on any board of directors let alone know of any.

        That is one difference between you and I.

        • Another difference is that mitchgam can speak English.

          • An elegant distinction, Susan.

          • nobsartist


          • nobsartist

            And you have the capacity to read. Amazing.

          • garryowenault

            But that will change for the children coming up as the Icons continue in each state they control to introduce A.L.E.C. laws to cripple and destroy
            public education in favor of Schools run by Business and Corporations.

          • plc97477

            Not so amazing she is noticeably intellegent

          • BDC_57

            Shes more intellegent than the banks that she going after.

        • So far as I can see, you have just contradicted yourself! Is Obama on a board or not? You don’t even know!

      • garryowenault

        The brothers Koch.

        • mitchgam

          Having a seat on a board when one is a large stock holder and being paid to sit on a board are two totally different things. The Koch brothers are paid in stock dividends based on their stock ownership, not their board membership.

          Before Ronald Reagan changed the law, NOBODY could sit on a corporate board without either owning stock in that company or being supported by someone who did.

          NOW the executive committie appoints board members.

          Isn’t it strangely coincidental that since that change the compensation for top executives has skyrocketed?

          • Just one more way that Ronald Reagan has proven to have corrupted America with his nonsense ideas: trickle-down economics, tax cuts spur the economy, keep 25-50% of your spending out of the presidential budget, spend tax payers’ money ike a drunken sailor and more.

    • tobyspeeks

      Take your ball and go home, no one wants to play with you.

    • TheSkalawag929

      Even when the subject has nothing to do with the president you always seem to find a way to bring him into the discussion and then bash him.

      By your own statement, made below, you admit that the president doesn’t sit on any board of directors and yet you say he will withhold any help for fear “He might lose a couple of board of directors seats that pay 2 mil per year”.

      Okay we get that you dislike this president with a passion. Let’s move on. We’ve heard this tune too many times before.

  • old_blu

    Well I guess if this helps some of them work together great, but remember Elizabeth Warren most of the republicans can’t be trusted especially when it comes to money they are a greedy lot.

    • BDC_57

      You. Got that right ther a bunch of greedy idiots.

      • garryowenault

        Although I generally agree with the statement of your posting, BDC_57, the term “IDIOT” does not due the GOP Justice like “GREEDY” does.

  • I agree with Elizabeth Warren, there is no such a thing as too big to fail or avoid prosecution for wrongdoing. However, she is not a Republican! People who engage in fraud and other illegal activities must be charged and, if found guilty, must serve time like every other criminal. If AT&T could be broken down – and survived – so can all the Wall Street giants.

  • JDavidS

    Well done, Ms. Warren, well done! But keep your wits about you. You’re dealing with RepubliCONS.

  • Ed

    To Paraphrase- “The Banks didn’t create the problem, the banks ARE the problem.”

    • garryowenault

      Truly this will rank beyond that famous remark by the Actor, Ronald Reagan. Very well put, Ed.

  • Untill anti trust laws are reinstated, this abuse will continue. Giant corporations must
    be broken up, they own the world, and no one will stop them.!

  • lana ward

    She is a weasel, a communist and an America hater. What’s new with the dem leaders??

    • The distance between your rhetoric and reality can be measured in light years and adds nothing to the conversation. Demand evidence, think critically, and say something substantive. Sen. Warren is one of the few politicians not tainted by the excesses of corporate largess. She works tirelessly to protect the interests of the people, not the corporations. If that bothers you, then perhaps you do not understand “Government of the PEOPLE, by the PEOPLE, and for the PEOPLE”. That phrase is not communist or socialist. It is the very foundation of our republic.

      • Angie – Lana is a plant and an agitator!

        • latebloomingrandma

          Besides which, she seems to be stuck in the McCarthy era, finding communists under every rock. Reading her blather is like being in the movie Groundhog Day. And I’ve just broken my vow of ingoring her. Darn.

          • garryowenault

            It’s OK. Sometimes you just have to speak to the point and quit ignoring
            outright blunders.

          • plc97477

            That’s okay you were just explaining to the new comers

          • lana ward

            Why is your leader stockpiling billions of weapons and ammo?????

        • garryowenault

          And a self spoken fool as well.

          • BDC_57

            And lying racist teabagger

          • lana ward

            Racist, why has your leader stockpiled billions of weapons and ammo???

        • lana ward

          And dems are communists!! They care about all people EXCEPT Americans!!!

      • lana ward

        Most dems in office are communists. They don’t give a rip about Americans. They care about every “group” of people and what they want!! NOT Americans!!

        • IowaPerson

          And you can say Republicans do care Ms Ward? Well, I think not. They want to hurt those that are struggling the most. Senior citizens, impoverished families, those that have to live paycheck to paycheck. Never, those in their circle of cronies. This whole country and our political system in general is in a huge mess and Ms Warren is a breath of fresh air trying to bring things to light.

      • lana ward

        Warren is not going to do anything to help the poor. She wants MORE of us poor so we have to depend on Gov for all of our needs!!! She is a big government communist like all the dems in power. Their goal is no middle class. We will have the rich and the rest of us will be slaves to the government

    • garryowenault

      My, my, look who is rising to self inflected shame again!

  • Bill

    Just another example of the Golden Rule, the man with the gold makes the rules. I remember when the banks paid 4% interest on savings and now that they make so much money they pay next to nothing.

  • Oh for more like E Warren!!

  • garryowenault

    Mary Beth Whelen Flaviln, you speak and write the Truth for Sure, We need more women like you and Sen. Waren. At least one in Wisconsin to take out Lying Ryan in 2014.

  • Pamby50

    We all know Elizabeth is a Democrat. The republicans kept her from running the consumer protection agency. She is all about us not corporate welfare. If she had her way, the banks would have been broken up by now. Keep pushing for the banks to be brought to trial. And if the dems were smart, they would get Eliot Spitzer to do that. He did it before in New York. He took wall street to trial and won.