Elizabeth Warren Asks Bank Regulators Basic Questions

elizabeth warren asking obvious questions and stomping a bunch of bank regulators this is of course elizabeth foreigners as uh... uh... on the banking committee and she awsome pretty straightforward questions and really the question was when was the last time utica bank to trial and these are so that the answers she got kinda disappointing but very basic questions take a listen to this so the question marveling why and sc about how tough you are about how much leverage you really hang out in these settlements and what i'd like to know is tell me oh little bit about the last few times you've taken the biggest financial institutions on wall street all the way to a trial cream i've can't hurt to author about my prospectus earlier the banks of proviso uh... of we'd primarily to the the tools that we have this uh... mechanisms for uh... it correcting deficiencies so and uh... the primary motive for our forceful actions has really identify the problem event to be into the uh... likely have a diamond producer for and then you said a price for them started a robbery this one of those long pants affectively settlement and what i'm asking is when did you last they and i know you haven't been there forever so i'm really asking that the s_e_c_ a large financial institutions on wall street bank well the trial institutions i supervise that something's two-thirds three factory ataa fairly a fair number of uh... so what did he he's gonna say that we just do other stuff we do other stuff and then she goes on and she tries to ask the question again and again it doesn't go very well walter thank you senator armed on as you know among our rep committees are penalties but the penalties we can get our limited and we actually have asked for additional party my predecessor did uh... to raise penalties what we when we look at these issues and art we truly believe that we had a very vigorous enforcement program we'd look at that distinction between what we can get if we go to trial and what we could get if we go three so the argument there as well by going to trial by taking some of the big banks to trial we wouldn't necessarily get more if you figure in all of the cost of everything so silly this video on viral a lot i don't think this is this is really it's fantastic it's such an obvious question they can answer the answers well you know we have got to have other mechanisms by which we regulate banks and even though we have it you know it's not really we've there's also a number of other things we haven't done which if not asking about essentially what do you think are you impressed with this line of questioning a lot of people thinking elizabeth ward on the banking committee will be the savior of uh... batter now something well uh... it's easy to ask questions and then and stomp these people blades were quite another matter to get legislation passed and to force them to actually take these banks to trial now it sounds to them right listening to them it's not even on the table they don't want to go to trial and they say well we can get more money wall decision about getting money that this is about making sure that this doesn't happen again these banks are happy to pay out whatever paying out and not never go to trial norm i thought when it when i saw this was that's fine and well and good but let's see who funded elizabeth warning did big banks fund her which would be an indication that this is kind of offer show so i went on fundrace dot order made it was open secrets and i looked up at the elizabeth warren uh... senate campaign and i pulled up page and i saw goldman sachs and i said j_p_ morgan chase and i thought bain capital and i saw a morgan stanley net that this does not make any sense i'm going to go in a minute to a segment of how much of a show this elizabeth warren thing is and then i realized these were the donations for elizabeth warren specifically these were donations made in her campaign to her opponent scott brown and case in point there were no in the top donors that i saw the ad the fullest i was able to find no big bank donors to elizabeth warren so the question of time is is this for real to do we really maybe had an independent thinker here the more than questioning of weather or elizabeth warren herself is honest about what she's doing i think the more relevant is whether by attracting attention she's gonna kind of make people think make the general public and the media think that this issue has been addressed by the political establishment without actually resulting in any real changes they're not and we will continue to see uh... what happens with that yes rule