485?1255548736
Current Events . . . User Group
Elizabeth Warren Takes On Eric Holder's 'Too Big To Jail'...
About This Group:

This is a place where we can discuss current events - what happens around the world and is reported in the news. Healthy debates and discussions regarding issues we feel strongly about will be allowed; however, personal attacks will not be tolerated, nor will threads and/or comments that are determined to be argumentative, combative, or offensive. MedHelp has recently changed their Terms of Use; with the new format and other changes being made, this would be a good time to familiarize yourselves with the new TOU as well. You can access those via the following link: http://www.medhelp.org/legal/terms_of_use Name calling, ridicule and abusive language is not allowed (per MH Terms of Use); this includes the title of your thread. Any thread posted with derogatory name calling in the title will be deleted, no matter how informative your thread might be, unless it’s part of the published title of the article you’re posting…This type of abuse brings nothing constructive to the forum and serves only to instigate altercations. We are all adults and are expected to behave accordingly… Failure to comply with these rules will result in being deleted from the group membership list. You *must* post a link to your source or your thread will be deleted.

Founded by HelpinUtah on October 14, 2009
38 members
Font Size:
A
A
A
Background:
Blank
Blank
Blank
Blank Blank

Elizabeth Warren Takes On Eric Holder's 'Too Big To Jail' Statement

http://www.huffingtonpost.com/2013/03/06/elizabeth-warren-eric-holder_n_2823618.html?utm_hp_ref=politics&icid=maing-grid10%7Chtmlws-main-bb%7Cdl19%7Csec3_lnk2%26pLid%3D279744

Sen. Elizabeth Warren (D-Mass.) took on Attorney General Eric Holder's admission that some banks are too big for the Justice Department to prosecute, asserting that Holder's statement illustrates why the financial institutions should be held accountable.

“It has been almost five years since the financial crisis, but the big banks are still too big fail," Warren said in a Wednesday statement. "That means they are subsidized by about $83 billion a year by American taxpayers and are still not being held fully accountable for breaking the law. Attorney General Holder’s testimony that the biggest banks are too-big-to-jail shows once again that it is past time to end too-big-to-fail."

Earlier Wednesday, Holder testified before the Senate Judiciary Committee during a hearing on Justice Department oversight. During the hearing, Sen. Chuck Grassley (R-Iowa) asked Holder about the "slippery slope" of the "too big to jail" mentality in cases of bank prosecution.

"I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if we do prosecute — if we do bring a criminal charge — it will have a negative impact on the national economy, perhaps even the world economy," Holder said. "I think that is a function of the fact that some of these institutions have become too large."

The Huffington Post's Mark Gongloff reported:

Holder's comments don't come as a total surprise. His underlings had already made similar confessions to The New York Times last year, after they declined to prosecute HSBC for flagrant, years-long violations of money-laundering laws, out of fear that doing so would hurt the global economy. Lanny Breuer, formerly in charge of doling out the Justice Department's wrist slaps to banks, told Frontline as much in the documentary "The Untouchables," which aired in January.

Some observers have defended the Justice Department, suggesting that prosecuting law-breaking banks would amount to a death penalty that could upset the financial system and trigger another recession -- although nobody really knows if it would do any such thing. But by not prosecuting law-breaking banks, and confessing to its terror of prosecuting those banks, the Justice Department has waved a big checkered flag to the biggest banks to go ahead and break all of the laws they want.

Since entering office in January, Warren has made a splash on Capitol Hill as a member of the Senate Banking, Housing and Urban Affairs Committee. Last week, the freshman senator pressed Federal Reserve Chairman Ben Bernanke on whether the government would get tough on the "too big to fail" institutions.

"Big banks are getting a terrific break, and little banks are just getting smashed," Warren said.

Earlier in February, Warren took bank regulators to task over the lack of trials for Wall Street banks.

"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," she said. "I'm really concerned that 'too big to fail' has become 'too big for trial.'"
2 Comments
Blank
Avatar_f_tn
Good for her. I think this is one smart move, putting her in charge. Now maybe something will happen that is a positive.
Blank
1530342_tn?1405020090
LUV LUV LUV Elizabeth Warren.....
Blank
Recent Activity
649848_tn?1424570775
Blank
Barb135 commented on FDA issued a warning ...
38 mins ago
Avatar_f_tn
Blank
703nikki joined this group
Welcome them!
Feb 06
3149845_tn?1452625053
Blank
Life360_Dave your status can't be blank Comment
Feb 03