Saturday, March 9, 2013

Elizabeth Warren -- "war horse" on the war path

Nobody has come to the Senate in recent years more ready to do battle for a good cause than newly elected Massachusetts Senator Elizabeth Warren.    Specifically, her chosen task is financial regulation -- for consumer protection and reining in financial institutions.

Now an important member of the Senate Banking Committee, which held hearings on money laundering by banks.    She made this memorable point about our system's failure to police big banks :
"If you're caught with an ounce of cocaine, the chances are good you'll go to jail.  If you're caught repeatedly, you can go to jail for life. Evidently, if you launder nearly $1 billion for drug cartels and violate our government's sanctions, your company pays a fine and you go home and sleep in your own bed at night. I think that's fundamentally wrong."
Yeah !!!   Finally someone is challenging the coddling approach to big banks and corporations who have all the advantages.

Ralph

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