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Warren Blasts Government for Ignoring 'Blatantly Criminal Activity' on Wall Street


#1

Warren Blasts Government for Ignoring 'Blatantly Criminal Activity' on Wall Street

Jon Queally, staff writer

In remarks on Wednesday, Sen. Elizabeth Warren criticized the failure of both federal regulators and Justice Department officials to prosecute or otherwise hold to account Wall Street banks and financial institutions despite their long and steady pattern of "blatantly criminal activity."


#2

The implicit point of this article is that Warren must abandon the Democratic Party if she seriously wants her message to get out. Otherwise, coverage of Clinton's smoke-and-mirrors campaign will continue to overshadow the anti-Wall Street message.

Elizabeth has achieved the stature that would allow her to retain her Senate seat as an Independent, just as Lieberman did in Connecticut. Whether she remains with the Dems or not, she has zero chance of reaching the Presidency but she can still be effective without doing so.

I know, Warren is still on the wrong side of the issues concerning Israel and the military. Even with those faults, she deserves support for her anti-bankster message even if we have to hold our noses to give it.

mcp


#7

Aren't you tired of getting just a little. Voting for the least villainous politician and being more disappointed and our country going further to the right and corporations gaining more power.


#8

Show us any other politician on the national stage who is keeping the issue of Wall Street crimes in the public discussion and you'll have a point.

mcp


#9

"SHE" did not "turn her supposed watchdog agency into a corporate pet".

Team Obama locked her out of the agency after she created it, just as he and the Democratic have serially marginalized her every step of the way.


#10

Warren should have mentioned Dodd/Frank, legislation that was a mouth with two dull teeth when Obama signed it, only to have Obama and Congress kick those two dull teeth out of it when the opportunity arose in December 2014 to water it down.


#11

If a football were under inflated for a game, Americans would freak out that the rules were broken!
Too bad our elections, finance, banking, military contracts, legislation, and so on, are not so visibly important.

I like regulated capitalism. When I go to the bank I do not need a gun, they give me my money because of the rules of our societal contract. If I wanted an unregulated free market I would move to Somalia (& buy a gun).

We need a strong social contract. People should trust their banks, police, courts, & politicians as much as their firemen. Sadly yet understandably we don't; I.E. Gore wins, Bush takes office, Pentagon cannot account for $7-8T in expenditures, Halliburton overcharges tax payers by $200M, civil asset robberies by police, teachers cheating on tests, 100's off death row by DNA exoneration, extrajudicial homicides by "peace" officers, etc. If Banks and police and politicians cheat, why shouldn't I cheat too? The social contract seems falling apart, or maybe just better reported?


#12

Indeed she is. None are perfect and I grow weary of idealists who condemn anyone outright. Unless you are running, you have to support the best possible person who is. Warren seems to be more principled than most. I wish she would unite and run with Sanders as an independent or with Congressman Grijalva.


#13

It is reported that Jamie Diamond, head of that RIKO operation, Morgan Stanley, sat in Warren's office and after Warren's dress down nonchalantly replies,"so fine me." Has the ring of truth to me. We can't humble Jamie Diamond unless we send him to jail. a real jail, for a long time. Elizabeth is asking the regulators why they haven't already done that but it is a rhetorical question. The whole American populace knows why. They know how corrupt our government is. We need to do more than throw Jamie Diamond in jail. We need a major wholesale reform of our governance. I'd like to see a new Constitutional convention and the members of that gathering exclude all holders of federal office.

says


#16

Ever since 1978 when the decriminalization (euphemistically called deregulation) of financial fraud started with the US Government enabling securitization of mortgages, the DC politicians owned by Wall Street have made much of the alleged "blatant criminal activity" legal, concurrent with making whistle blowing and other activities essential to a functioning democracy illegal.

During the 80s more than 1,000 bankers served jail time for their participation in the savings and loan scandal, an event that negatively impacted a few Americans. To date no banker has even been indicted for causing the 2008 meltdown (5,000 x the magnitude of the s&l scandal) that negatively impacted people in every nation.

Decriminalizing fraud has been a glowing success for Wall Street and the politicians they own.


#17

Distracted from what?

mcp


#18

Is Warren just the political systems magnet to syphon off populist voters to keep any real populist third party from developing and threatening the two party hold on America?


#19

Whether she is or not, Warren is still the only one talking about the most important problem facing the US - and the world.

Also, you could have posed the same question about Sanders.

mcp


#20

Bipartisan action in DC has made Dimon's Chase Bank and the other too-big-to-fail banks 40% larger than they were in 2008. The next bailout will be even bigger.


#21

The blatant criminal activity from Wall Street quickly ran down the system and inspired many. While Clinton and Obama were elected, neither were supported by their party where membership has always been based on money. Warren is very brave considering the past. JFK, MLK and RFK were also brave to buck the establishment and oppose the Vietnam war of choice. Criminals are happy to use violence at home and abroad. At some point they will wreck enough that the people will stand up globally and oppose them. Until then the lack of honesty, integrity and ethics will be blatant with the usual lies saying the opposite of the truth by the criminals who are both wealthy and powerful.


#23

I think that issue would be global warming and I don't see anything about that in this article.


#24

Like most politicians that don't choose lobbying as their next career, Greenspan, Geitner, and today Bernanke also joined investment banking outfits. Its the rule, not the exception.

Warren's recent comment during a recent NPR interview summed it up: "the wind in Washington DC blows from one direction...Wall Street".


#25

Choose any story in the media today that addresses a problem and even if Wall Street didn't cause that problem, Wall Street is an obstacle in solving that problem...including global warming.

Politicians and philanthropists who tell us they are going to solve whatever problem they are working on are disingenuous or wasting their efforts if they are not pushing for promptly re-regulating Wall Street as the first step to solving whatever their target problems are.

Wall Street is the root of problems afflicting the 99%. Dealing with symptoms sets the 99% back further each day. Dealing with the root is the only solution and Warren is one of the few people in a leadership role that has given more than lip service to that approach.


#26

The real fight isn't between markets and rules. And it never has been. It's between competitive capitalism and crony capitalism

That right there is why Warren is a Democrat and will always be one. It's also the reason she's not really on the Left.

The fight has always been between the mass of people and the oligarchy e.g., slave owners, feudal lords or capitalists.


#27

i think spotlessmcpartlandattax is correct that financial reform is the most important issue. Unless we can remove corporate influence from the U.S. government, the 99% will never be able to realize any movement towards reversing global warming. The U.S. first needs a functioning democracy before any of us can talk about any reforming our broken system. As long as the moneyed Democrats and Republicans are in charge, global warming will never be addressed.