Elizabeth Warren is asking a simple question: When did any of you bank regulators actually try a case against a bank? The implication is that the regulators are giving banks little slaps on the wrist, and Warren’s expressed frustration is that the banks are ripping off the public, then invited to settle these egregious cases by merely paying a tiny portion of the ill-gotten goods.
This is so refreshing to see a member of Congress demanding straight answers to simple questions in order to expose the all-too-cozy relationships between government agencies and banks.
I love the smattering of applause that probably never happens at hearings like this because she’s finally saying what so many people have been waiting for someone in power to say. I watch our local federal attorney, a friend of mine, repeatedly make examples of the small time swindlers while the big-time swindlers go free and continue in their ways.