Saturday, February 16, 2013

Warren on the Warpath

This is the type of behavior that I was hoping to see from our newly minted senator when I voted for her:
At a hearing on Thursday examining the oversight of the Dodd-Frank Act, Ms. Warren grilled top banking regulators on their response to Wall Street wrongdoing. Ms. Warren, a Democrat from Massachusetts who helped create the Obama administration’s new consumer protection agency, pressed government officials to justify how they police big banks.
“If they can break the law and drag in billions in profits and then turn around and settle paying out of those profits, then they don’t have much incentive to follow the law,” she declared, receiving a smattering of applause from the gallery. “The question I really want to ask is about how tough you are.”
What followed was the Congressional equivalent of a “Ferris Bueller’s Day Off” moment. “Anyone?” she asked, receiving silence in reply.
Here's hoping that she can help add some real teeth to our financial regulations and rein in our out of control banking system.

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