The Problem Is, Warren DOES Understanding the Global Banking System

The problem is not that I don’t understand the global banking system. The problem for these guys is that I fully understand the system and I understand how they make their money. And that’s what they don’t like about me.

— Sen. Elizabeth Warren (D-MA), quoted by Politico, firing back at JP Morgan Chase CEO Jamie Dimon for suggesting she has no clue what she’s talking about in her attacks on Wall Street.

Sen. Warren Grills Treasury Officials over Charges That HBSC Has Laundered Millions for Drug Lords

ABC News:

In December, U.S. Justice Department officials announced that HSBC, Europe’s largest bank, would pay a $1.92 billion fine after laundering $881 million for drug cartels in Mexico and Colombia. At the time, the Justice Department disputed accusations that it views some banks as too big to prosecute.

The two regulators, Under Secretary for Terrorism and Financial Intelligence David S. Cohen and Federal Reserve Governor Jerome H. Powell, deflected Warren’s questions, saying that criminal prosecutions are for the Justice Department to decide.

[…]