“They violated every goddamn law in the book,” says Jack Blum, an attorney and former Senate investigator who headed a major bribery investigation against Lockheed in the 1970s that led to the passage of the Foreign Corrupt Practices Act. “They took every imaginable form of illegal and illicit business.” – Gangster Bankers Too Big to Jail, by Matt Taibbi


SENATOR WARREN delivered the promise of her candidacy on Thursday by challenging regulators and stripping their moral bankruptcy to the bone.

“If they can break the law and drag in billions in profits and then turn around and settle, paying out of those profits, they don’t have much incentive following the law,” Warren said. “It’s also the case that every time there’s a settlement and not a trial, we don’t have those days and days and days of testimony about what those financial institutions were up to.” …

[…] “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,” Warren said. “I’ve very concerned that ‘too big to fail’ has become ‘too big for trial’ and that just seems wrong to me.”


Applause broke out in the hearing room.

Warren and Democrats continue to also push back against Republicans who continue their efforts to block the appointment of Robert Cordray to the Consumer Financial Protection Bureau, with 43 GOPers signing a pact to filibuster his appointment.