Tag: Elizabeth Warren
Warren: Supreme Court Is Just a Subsidiary of Big Biz
You follow this pro-corporate trend to its logical conclusion, and sooner or later you’ll end up with a Supreme Court that functions as a wholly owned subsidiary of big business.
— Sen. Elizabeth Warren (D-MA), quoted by Politico, denouncing the Supreme Court as a right wing panel that serves the interests of corporate America.
Sen. Warren Grills Treasury Officials over Charges That HBSC Has Laundered Millions for Drug Lords
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.
Republicans Succeeding in Fight to Kill New Consumer Protections from Banking, Credit Abuse
It has almost gone without notice that Republicans in Congress, at the behest of their corporate masters, are fighting a system of consumer protections from abusive practices by credit-card companies, banks, mortgage lenders and other financial institutions.
“And here we stand a year later with the minority, the side that lost, saying, well, I don’t like how that came out. And so, I think I have the capacity to stick a stick in the spokes, unless, the majority will do what the minority wants it to. You know, that’s not how democracy works, and it’s not how this agency works. It’s just wrong.”
– Elizabeth Warren
– Elizabeth Warren
The Consumer Financial Protection Bureau, which will oversee the protections, was created by Congress and written into law last year. But since then, Republicans have been demanding a do-over in order to rewrite the new law to make it more palatable to their sponsors in the financial industry.
They are using the same hostage-taking, extortion-like tactics to kill these consumer protections as they have been in the budget and deficit-ceiling debates. In this instance, they are putting holds on confirmation of Pres. Obama’s nominees to head the CFPB.
And they are succeeding. They have refused to confirm Elizabeth Warren as head of the agency. Warren, the Harvard professor who was appointed by the Senate to recommend reforms after the financial crash in 2008 and subsequently by the president to create the new agency, is one of the good guys in Washington. What Repubicans have done to her is a travesty.
In an interview on CNN yesterday, Wolf Blitzer asked Warren about the political attacks on her and the consumer protection agency by Republicans:
