Liz Warren Is WINNING the Internet
Say what you will about Liz Warren, she knows how to give the feckless bank regulators hell on camera. It’s kinda funny that a Senate hearing is blowing up on YouTube, but here we are. It's hilarious how not one bank regulator can cite a single case of a Wall Street bank being brought to trial. It’s no secret that I have a lot of respect and admiration for Warren, which I realize is not a popular opinion on Wall Street. But you have to give credit where credit is due, and she’s definitely a bigger asset on the Senate Banking Committee than we’ve seen in a long time. Give 'em hell, Doc:
And here's the uncut testimony that's going viral:






Comments
Nobody wanna watch this
Nobody wanna watch this liberal junk.
"We truly believe that we
"We truly believe that we have a very vigorous enforcement program."
-SEC Chairwoman
L.O.L.
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Even if people dont' like
Even if people dont' like this stuff, the end is actually fairly relevant. Prosecuters go out of their way to take small people to trial to "set an example", yet refuse to touch the banks.
Eddie I suggest u spend more
Eddie I suggest u spend more time reading zerohedge and less on pony shows
newfirstyear: Nobody wanna
Nobody wanna watch this liberal junk.
"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."
Well, all the co-mingled
Well, all the co-mingled issues aside it is certainly refreshing to actually see someone start going after the regulators asking, " what the fuck were you clowns doing?" I don't agree with most of what she says and traditionally she makes my head want to push itself through a window. That said, these settlements are a fucking joke and someone needs to actually ask the question of what is the point of regulation if you have no authority or will to actually enforce it. To a few of the posters above, I suggest you actually watch this "liberal junk" because guess what? It's about to consume us for the next 4, and realistically the next 8 to 12 years. There are very few people who could end up having more of a direct impact on your jobs and future going forward outside of this woman. She is powerful, popular, smart and most importantly shrewd as hell. I respect her even If I don't agree with her.
Obviously, she knows the answer going into this and is simply showboating the incompetence of the current regulators which then gives rise to the ability to set up new agencies which will go in and do what the current ones cannot; or just give the current ones sweeping authority and even stricter regulations. Frankly she scares the shit out of me. haha.
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Wasn't this the lady who lied
Wasn't this the lady who lied about being a native American? Maybe conservatives and moderates should just join the Democratic party in Massachusetts, since that seems to be the only necessary qualification to get elected there. That's my rant for today.
JulianRobertson: Wasn't this
Wasn't this the lady who lied about being a native American? Maybe conservatives and moderates should just join the Democratic party in Massachusetts, since that seems to be the only necessary qualification to get elected there. That's my rant for today.
That was a pretty irrelevant rant.
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
She is a liberal and a liar,
She is a liberal and a liar, which is synonymous. And why hasn't a bank been brought to trial? Plenty of individuals in finance have been arrested and tried. Just because a bank fails or had poor controls doesn't mean the CEO has committed a crime.
But sure, if the sheep want it, why not imprison everyone who works at Citi. I mean that would be throwing a bank in jail and I am sure the morons would cheer for it.
Government creates a problem, then creates more government to solve the problem it created. The SEC is and was incompetent and now we have an elected official who is trying to increase government to solve the problem.
Fail ^3
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JulianRobertson: Wasn't this
Wasn't this the lady who lied about being a native American?
Yes, and I get the impression that she a lot of skeletons in her closet. Perhaps not as funny as Bill O'Reilly's vibrating dildo (true story) or J Hoover's cross dressing....but no one's taken a close look into her past. I'm all for slipping through the cracks and moving past youthful indiscretions, but I'd like some integrity in investigators or we just end up with another Elliot Spitzer who screws us all over and then goes down in a fiery ball of flames themselves.
it is certainly refreshing to actually see someone start going after the regulators asking, " what the fuck were you clowns doing?"
Hell yeah dude.
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I think France is turning you
I think France is turning you socialist. Get out now!
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
When's the last time a
When's the last time a politician didn't have skeletons in their closets?
TNA: She is a liberal and a
She is a liberal and a liar, which is synonymous. And why hasn't a bank been brought to trial? Plenty of individuals in finance have been arrested and tried. Just because a bank fails or had poor controls doesn't mean the CEO has committed a crime.
But sure, if the sheep want it, why not imprison everyone who works at Citi. I mean that would be throwing a bank in jail and I am sure the morons would cheer for it.
Government creates a problem, then creates more government to solve the problem it created. The SEC is and was incompetent and now we have an elected official who is trying to increase government to solve the problem.
Fail ^3
Fuck are you talking about? Angelo Mozillo isn't guilty? Jon Corzine isn't guilty? Dick Fuld had no idea what the fuck was going to happen?...and I call bullshit on that because I and other guys KNEW that Bear and Lehman were in deep shit during recruiting season months before. A family member was specifically told NOT to accept the offer at Bear because their shit was getting jacked and the firm was getting fucked all ways like a hooker at a gang bang. Nothing was fucked? ....uhm, everything was fucked, and everyone knew about it. At the time, I was fucking bartender....IF I KNEW THAT, THEY DEFINTELY KNEW ABOUT IT.
I'm not sure how much clearer I can make this to you, unless you just don't want to see, and therefore just aren't worth acknowledging.
Just to illustrate how little accountability there was in industry, Jim Cramer was telling people to buy Lehman shares days before and still has his show. Had that been any other sector, any other field, these people would all be unemployed at the least, much more likely behind bars. He still has credibility? He still has a fucking job in this business??? HOW? It's an insult to guys like you and me who know what the fuck they're doing. He's a fake, a snake oil salesman, and it's fucking demoralizing when a crook gets ahead. If you just want to rationalized that away, good for you, but personally it pisses me the fuck off.
I call bullshit, they cruise on momentum and buy corruption, and unlike you I personally don't care what side of the political isle they come from.
Look at it this way:
Truthfully, in my darker days, I look at this stuff and conclude "shit, the rules are selectively enforced and your precious fucking America is bullshit so I'm just going to do whatever the fucking hell I can get away with, your Constitution and nosy rule books be damned. Fuck the rules, fuck 'capitalism', and fuck you. I'm just taking what I want." Not bad if it's just me, one person, but you seem to have no comprehension of how many people, more and more, see things this way. If a bad law is made, then argue it, but if basic fraud laws aren't going to be enforced then the system that you profit so much from starts to break down. Truth also is, I'd get away with anything I tried, but I have a concience. Getting away with something doesn't make it right, and these guys are still fucking crooks. If someone fucks up, they get canned. If they cross the line, they go to jail. It applies for you and me and I'll be damned the day I condone things just because someone has a lot of money and power. IT'S STILL WRONG.
You ever play in a hockey game where the ref is just calling one side? You want to just take it out into the parking lot after the game, it's maddening, and you cease to care what the consequences are because, shit, it doesn't matter anyway. THAT'S how a lot of America feels right now, especially the ones hurt by the recession who had NOTHING to do with the fucking bubble. 40% of American wealth was vaporized, and it's no one's fault? Dude, seriously, you need to get in touch with reality, I truly don't understand where you're coming from and you sound ridiculous.
Disagree if you must argue just to do it, I'm just the messenger.
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I don't mind that she's hard
I don't mind that she's hard on banks. Charlie Gasparino is hard on banks, and I think he's great.
I can't stand her because she is hard on banks while peddling populist rhetoric. Then there is her role in the CFPB...a new, remarkably unaccountable government agency that "solves" non-existent problems.
Were swipe fees really an issue? Really? How about overdraft fees and payday lending? Yes, those products are terrible values, but it was not exactly a secret...Then you have her role in Dodd-Frank, the grandfather of all "fixing problems that don't exist" acts. 4 years, thousands of pages, and it still fails to address the causes of the crisis.
And personally she's atrocious. The affirmative action fraud is the least of my objections. Whenever she opens her mouth, you could swear she's the bastard offspring of Pelosi and Matt Taibbi. Bullshit enveloped in the authority of academia.
TNA: She is a liberal and a
She is a liberal and a liar, which is synonymous.
Thoughtful.
And why hasn't a bank been brought to trial? Plenty of individuals in finance have been arrested and tried.
Who exactly has been arrested and/or tried stemming from the financial crisis? Most high profile cases I can think of involve rogue traders (who harmed the banks).
Just because a bank fails or had poor controls doesn't mean the CEO has committed a crime.
Negligence is a crime. If you are supervising employees who are laundering money for terrorist organizations (HSBC) you are breaking the law.
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
"ehhhh she's a liberal!" If
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In the USA it is innocent
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duffmt6: TNA: She is a
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TNA: In the USA it is
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
Eddie, if you're into that
UFOinsider: TNA: She is a
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
TNA: In the USA it is
YOU JUST GOT TROLLED
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duffmt6: TNA: In the USA it
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BTbanker: If you knew what
YOU JUST GOT TROLLED
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UFOinsider: TNA: In the USA
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BTbanker: UFOinsider: TNA
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Look folks, here's what we
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TNA: But we live in a
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duffmt6: Negligence is a
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
Addinator: It is naive to
YOU JUST GOT TROLLED
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TNA: duffmt6: TNA: In the
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
UFOinsider: But at least
YOU JUST GOT TROLLED
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BTbanker: duffmt6: Neglige
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
UFOinsider: BTbanker: If
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
duffmt6: BTbanker: duffmt
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
BTbanker: UFOinsider: BTb
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Regulation is kind of fucked,
TheKing: BTbanker: UFOins
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
BTbanker: Ah, so you're the
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West Coast
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BTbanker: TheKing: BTbank
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TheKing: West Coast
West Coast rainmaker: I
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UFOinsider: TNA: But we
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I'd also support reinstating
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TNA: UFOinsider: TNA: But
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
I don't want to get in the
One point I think some of you
There's too much here to try
"It doesn't matter where you are or where you came from: it's about where you're going."