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Elizabeth Warren Confronts Ben Bernanke On Too-Big-To-Jail

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http://www.zerohedge.com/news/2013-05-15/elizabeth-warren-confronts-eric-holder-ben-bernanke-and-mary-jo-white-too-big-jail

'Elizabeth Warren is one of the few Senators out there pushing to understand why the federal government has created an untouchable class of criminals in America that can do whatever they want whenever they want and, not only get away with it, but also get bailed out when they make mistakes. In case you missed it, I highlighted a powerful video a few months ago in which she made regulators squirm when confronted on “too big to jail.” Now she has written a letter to Ben Bernanke, Eric Holder and Mary Jo White. My favorite line is:

“If large financial institutions can break the law and accumulate millions in profits and, if they get caught, settle by paying out of those profits, they do not have much incentive to follow the law.”'

more at the link.

Warren is one of the few mainstream politicans I'd get out of bed to vote for.Can't think of her equivalent over here.

That is excellent and commendable. But is Bernanke the person whose responsibility it is to enforce the law in this regard? I would have thought President Obama or a senior law enforcement official would be the person. :blink:

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That is excellent and commendable. But is Bernanke the person whose responsibility it is to enforce the law in this regard? I would have thought President Obama or a senior law enforcement official would be the person. :blink:

Yes - little point addressing the head of a criminal organisation about how bad his cohorts are and expecting him to do something about it...

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'Now she has written a letter to Ben Bernanke, Eric Holder and Mary Jo White'

eric holder attorney gen

mj white chairman SEC

Yes - my comment was more about Bernanke.

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Yes - my comment was more about Bernanke.

Bernanke is NOT a member of the Government.

His job is to preserve the banking system and acheive Dollar value stability.

he has failed on both counts.

The PsTB persist with the argument that individuals in these banks are key and prosecuting them would lead to systemic failure.

I dont see how throwing a few hundred execs from organisations numbering millions of employees is going to lead to systemic failure...rather, it would help "persuade" those left to be legal decent honest and truthful.

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Bernanke is NOT a member of the Government.

His job is to preserve the banking system and acheive Dollar value stability.

he has failed on both counts.

The PsTB persist with the argument that individuals in these banks are key and prosecuting them would lead to systemic failure.

I dont see how throwing a few hundred execs from organisations numbering millions of employees is going to lead to systemic failure...rather, it would help "persuade" those left to be legal decent honest and truthful.

Throwing? Into jail? Off a cliff? That might focus the minds of those left..

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There's no harm in her writing to him directly just on the outside chance he'll actually reply to it giving some rational reasons.

Reasons other than they do it because they can.

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Throwing? Into jail? Off a cliff? That might focus the minds of those left..

take your pick.

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http://www.zerohedge.com/news/2013-05-15/elizabeth-warren-confronts-eric-holder-ben-bernanke-and-mary-jo-white-too-big-jail

'Elizabeth Warren is one of the few Senators out there pushing to understand why the federal government has created an untouchable class of criminals in America that can do whatever they want whenever they want and, not only get away with it, but also get bailed out when they make mistakes. In case you missed it, I highlighted a powerful video a few months ago in which she made regulators squirm when confronted on “too big to jail.” Now she has written a letter to Ben Bernanke, Eric Holder and Mary Jo White. My favorite line is:

“If large financial institutions can break the law and accumulate millions in profits and, if they get caught, settle by paying out of those profits, they do not have much incentive to follow the law.”'

more at the link.

Warren is one of the few mainstream politicans I'd get out of bed to vote for.Can't think of her equivalent over here.

There is no incentive as the fines are a factored in cost

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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