"When was the last time you took a Wall Street bank to trial?" They explained that they don't have to go to court, because they negotiate some settlement, consent order, penalty, etc.
But she was persistent. ""I appreciate that you say you don't have to bring them to trial. My question is, when did you bring them to trial?"
Then she made the point of her question:
"There are district attorneys and United States attorneys out there every day squeezing ordinary citizens on sometimes very thin grounds and taking them to trial in order to make an example, as they put it. I'm really concerned that 'too big to fail' has become 'too big for trial.'"They will rue the day they blocked her appointment to head the new Consumers Financial Protection Bureau. She would then be one of the regulators. Instead she is a senator on the committee that over-sees the regulators.
What delicious irony !!!
Ralph
The video clip of Elizabeth Warren's question at the hearing has gone viral on the internet. She made her point so vividly: "too big to fail has become too big for trial."
ReplyDeleteIn the senate for less than a month, and already she has made her mark.