Monday, February 18, 2013

Warren Concerned That Banks Are "Too Big For Trial"

At a Banking, Housing and Urban Affairs Committee hearing, Sen. Elizabeth Warren (D-MA) asked bank regulators when they last took a Wall Street bank to trial. Thomas Currey, head of the Office of the Comptroller of the Currency, said, "We have not had to do it as a practical matter to achieve our supervisory goals." Elisse Walter, chair of the Securities and Exchange Commission, responded, "I will have to get back to you with the specific information." Warren observed, "There are district attorneys and U.S. attorneys who are 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. I'm really concerned that 'too big to fail' has become 'too big for trial.'" Warren could have had in mind Internet activist Aaron Swartz, whose funeral she attended. Watch as Warren asks the uncomfortable, necessary questions:

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