Elizabeth Warren: “Why Aren’t Criminal Bankers Being Locked Up?”
Earlier this week, Senator Elizabeth Warren sent a letter to Federal Reserve Chairman Ben Bernanke, Attorney General Eric Holder and SEC Chair Mary Jo White. Speaking for hundreds of millions of angry Americans, Senator Warren’s letter asked why the biggest robbers in history are not in prison, getting beaten to a pulp by guards, and gang-raped and Sodomized by fellow inmates until their assholes are big enough to drive a tank through.
Her letter said in part:
“…I believe very strongly that if a regulator reveals itself to be unwilling to take large financial institutions all the way to trial — either because it is too timid or because it lacks resources — the regulator has a lot less leverage in settlement negotiations and will be forced to settle on terms that are much more favorable to the wrongdoer.
The consequence can be insufficient compensation to those who are harmed by illegal activity and inadequate deterrence of future violations. 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.”
New York State Attorney General Eric T. Schneiderman echoed the same sentiment on MSNBC last week:
“The problem is the banks have overwhelming confidence that law enforcement is not taking this seriously. They have overwhelming confidence that whatever the rules are, they won’t be followed up on.”
That’s putting it mildly. People losing their homes through illegal foreclosure and then getting a $300 “compensation” payment from the bank; guilty bank CEOs getting a slap on the wrist and a stern warning not to let it happen again — how much more of this shit are the American People going to put up with?
Is the government EVER going to crack down on these Wall Street cartels?
(Don’t worry, it was a rhetorical question.)