By Jason Sattler

Elizabeth Warren: ‘People Want To Know Their Regulators Are Watching Out For The American Public, Not The Banks’

April 11, 2013 4:37 pm Category: Memo Pad, Politics 25 Comments A+ / A-

Here’s another example of why the big banks never wanted Elizabeth Warren (D-MA) on the Senate Banking Committee.

In a hearing Thursday, Warren questioned Mr. Daniel P. Stipano, Deputy Chief Counsel for the U.S. Comptroller, and Richard Ashton, Deputy General Counsel of the Federal Reserve, why they’ve made a decision to protect the big banks but not to alert the families who have been the victims of illegal foreclosures.

The senator and Congressman Elijah E. Cummings (D-NY) have been attempting to get details about the number and types of illegal foreclosures investigators have discovered since the financial crisis, with little help from the offices of the comptroller or the Fed. And in this hearing, the two departments’ lead counsels were even less forthcoming, only saying that they hadn’t yet made a decision about when or if families would be notified.

This week, MSNBC’s All In with Chris Hayes took a look at illegal foreclosures and the ridiculously small compensation most homeowners received after being removed from their homes unjustly by the nation’s largest financial institutions.

Visit NBCNews.com for breaking news, world news, and news about the economy

Elizabeth Warren: ‘People Want To Know Their Regulators Are Watching Out For The American Public, Not The Banks’ Reviewed by on . Here's another example of why the big banks never wanted Elizabeth Warren (D-MA) on the Senate Banking Committee. In a hearing Thursday, Warren questioned Mr. D Here's another example of why the big banks never wanted Elizabeth Warren (D-MA) on the Senate Banking Committee. In a hearing Thursday, Warren questioned Mr. D Rating:

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  • bioglassmusic

    Sometimes Its like she is the only one fighting for the american public.

    • http://www.facebook.com/shirley.williams.75685 Shirley Williams

      She, Bernie Sanders and Alan Grayson. Possibly Sherrod Brown.

  • spaceribs

    Correction: Elijah E. Cummings (D-MD)

  • http://www.facebook.com/dominick.vila.1 Dominick Vila

    We need more people like Elizabeth Warren in Washington. She stands by her convictions, is not afraid to confront powerful special interests, and says it like it is. Is she decides to run in 2016, she has my vote.

  • http://twitter.com/kfwils Kevin F Wilson

    I am so proud of the people of Massachusetts for electing Elizabeth Warren to the Senate. I just couldn’t see Scott Brown bringing it to these shameful morons. She is fearless and has so much integrity. I think she’d look real comfortable sitting in the Oval Office.

  • charleo1

    Coinciding with a tough economy, the election of Barack Obama, and the
    rise of the anti-government, corporate supporting extremist, going by the
    acronym of taxed enough already, or Tea Party. Focusing on the deficits
    the Federal Government was running. As if they had never noticed, the
    Federal Government has always run deficits in a recession, or war. Or,
    that the Country was in fact, in both. And, they had been unexplainably
    unaware somehow, that in the previous eight years, the Country had racked
    up enormous amounts of debt. So, it wasn’t really about the debt. It was
    about the government. They don’t like it. Or, more to the point, corporate
    doesn’t want a government they can’t control. Or one that is autonomous
    enough to tax, or regulate them properly. And in this goal, I believe they are
    much closer than many Americans know. Wall Street, and the mega banks,
    with the help of Right Wing media outlets, have gone to great lengths to deny
    in any way, their primary role in the financial crisis. Blaming instead, big
    government, and regulation, for the near collapse of the economy. I talked
    at length with a commentator on this sight, who wanted to know, since I
    had said, the government was influenced by the undue power of the financial
    sector, to remove those regulations that could have prevented the meltdown.
    He wanted to know just when it was, that Wall Street, and the banks started to
    influence law, and policy? And, I had to admit I wasn’t sure. Perhaps when
    the Earth, a molten glob of lava, started to cool.

    • http://www.facebook.com/daniel.leblanc.353 Daniel LeBlanc

      So, being anti-government is “extremist”? Tell that to all the Iraq War protestors under Bush for eight years. Sadly, both parties are responsible for our struggling economy, not just Republicans.

      • jgsoliveira

        Clinton had a surplus!

      • http://www.facebook.com/shirley.williams.75685 Shirley Williams

        Nope, the Republican did us in under Bush and continue with the same policies. The intent seems to be to get the black man out of office, but not before they totally sell out to big corp and have him to blame.

      • charleo1

        So, do I think being anti-government is extremist? It depends.
        If, as a citizen, I disagree with my my government’s, policies,
        or actions, I can exercise my Right to voice my opposition.
        Lobby my government for redress. Assemble, and peacefully
        protest, using nonviolent, civil disobedience, if necessary.
        Then there are factions who’s rhetoric, and actions cannot
        be distinguished, from any other enemy of the United States,
        neither those of the past, nor in the present. The difference
        between citizens protesting about a war they don’t see as just.
        And a collection of anarchists, and nihilist, who’s every action,
        is justified, in their mind, by their foundational assertion the
        Federal Government is not Constitutionally authorized to tax,
        or regulate private enterprise, usurp States Rights, and so on. All
        have their particular gripe, and supposed jack booted, injustice.
        Having in common the unifying belief, whatever the Country’s
        ills may be, the root cause is always the Federal Government.
        So if they blow up a Federal building in Oklahoma, or fly jets
        into buildings with thousands of people inside, Or, sit in Congress,
        and threaten to default on the Country’s debt, if certain demands
        are not met. They are all cut from the same cloth, as far as I’m
        concerned.

  • TimesTheyAreAChanging

    Too bad this fake Indian can’t take care of her own brother who is on SS and making $13K a year. You’d think someone worth north of $10M could afford to help out her own sibling. Not!

    • WhutHeSaid

      Just exactly what would you know about what is a real or fake Indian? You redneck bigots get a couple of Buds under your belt and you think you’re God. Go wash your pickup truck or clean up that pig-stye of a trailer — commentary just ain’t your strong suit, Bubba.

      • Mark Forsyth

        You may not get a response from him,he is engaged in his mental masturbation and is indisposed.

    • Mark Forsyth

      What would you know about being a First Nations person? Your knowledge would not be a drop in a thimble.We Native people don’t care what is printed on a piece of paper but what is in a persons heart and mind.Ms.Warren and myself are as proud of our First Nations lineage as we are of our Celtic lineage.We have nothing to prove to the like of you or anyone who refuses to acknowledge the truth.What do you think you know about Warrens relationship with her brother? You are preposterous.You come on line to spout your putrescent statements instead of tending to your own desperate affairs.You use the monicker TimesTheyAreAChanging,you should change your mind.The one you are using is not worth a shit.

    • Jim Melton

      Besides your blind devotion to Faux Noise talking points, what the hell does Warren’s family situation have to do with her desire to protect the American public from the predatory banks who have stolen and destroyed a very large fraction of America’s wealth? All you’re trying to do is to distract others from the fact that there are very, very few people in Congress who are actually on the side of the ordinary citizen and Elizabeth Warren is one of them.

  • http://www.facebook.com/bill.thompson.39 Bill Thompson

    When a corporation has been found to be involved in illegal activity and will not produce the information requested their files should be seized. EW for president

  • Mark Forsyth

    Considering the crimes that Wall Street has comitted and the ire of the public,one would think these arrogant bastards would fear to stick their heads outside the door.

    • jgsoliveira

      No. And they not afraid of sticking it to you to!

      • Mark Forsyth

        Except for my activism,I would not be worth their effort as I otherwise live under the radar and my pockets are well protected.Be sure to watch out for yourself.

  • TimesTheyAreAChanging

    Hey Granny Liawatha, did it ever occur to you that maybe you could just … do the right thing by brother Dave? You know your brother on SS disability. Similar to ObaMao’s brother who’s living in a cardboard box in Kenya. You’re worth well over $10 million, according to your financial disclosure statements. You know your one of those 1%ers. I know, you don’t own any stocks, wink, wink — “just mutual funds, lol,” as you explained to a Kool-Aid drinkers on state run MSNBC last year. By the way hows that new book coming along….. “Faked,” I mean, “Rigged.”

    • charleo1

      I fail to see your point. Since SS disability is an insurance program, her
      brother, like millions of Americans paid into. And if he’s receiving benefits,
      his eligibility to do so, is based on his physical condition, not his bank account.
      So, perhaps he doesn’t even need his Sister’s money. Or, doesn’t feel taking
      money from one’s family members is ever an approiate thing to do. I know
      I would feel that way. But, that’s what we get into when we start talking about
      things we know little to nothing about. And, that are really none of our business,
      in the first place. I hate a gossip, don’t you? I think Senator Warren is good
      dose of what the Country has needed for a long time. And, that is exactly the
      reason she scares the Hell out of the corporate thieves, and predators.
      Who over the previous 30 years, have managed to just about eliminate the
      primary source of America’s once tremendous economic potential. A thriving
      and secure, Middle Class. Senator Warren carries that message into the
      United States Congress, with remarkable clarity. Because that is who
      Elizabeth Warren is, as a person.

      • plc97477

        Do you ever wonder how many of the posters here are corporate thieves and predators?

  • CrankyToo

    This may be Capitalism’s finest hour in three decades. When I started investing in 1985, with the $7,500 dollars in proceeds I got from the sale of my first house, it was with the expectation that I’d be a millionaire by the time I reached the age I am now. It wouldn’t take much – a modest 8% gain a year would do the trick. That would not only give my grandkids a leg up in life, but with a little nurturing after my passing, it might translate into the good life for every generation of my family to follow. That was my interpretation of the American Dream.

    So here I am, all those years later, still investing whatever I can scrimp and save, but my legacy to my successors has been spoiled by an immoral Capitalism. The playing field’s been tilted in favor of the insiders – and avaricious bankers, sleazy lawyers and corrupt politicians are to blame.

    We’re going to need a small army of Elizabeth Warrens to restore honesty to Wall Street. But let’s hope this is the beginning, She’s certainly got the cockroaches scurrying.

  • docb

    SPOT ON, Senator Warren.

  • Lovefacts

    Thank the good lord for Elizabeth Warren. Those witnesses and their depts should hang their heads in shame–as should Obama for not stepping in and cleaning up this mess.

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