Elizabeth Warren Puts Financial Regulators on Trial

Senator Elizabeth Warren shows she's a firebrand in her first banking committee hearing.

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Thursday’s hearing before the Senate Banking Committee had a boring name: “Wall Street Reform: Oversight of Financial Stability and Consumer and Investor Protections.”  But it was Elizabeth Warren’s first, and she came out swinging at Wall Street by going after their government regulators.   After settlements were repeatedly raised to show that the industry had been better regulated after the economic collapse,  Warren asked, “Anyone else want to tell me about the last time you took a Wall Street bank to trial?”  When no one would, or could, answer her question, Warren said to applause, “I’m really concerned that ‘too big to fail’ has become ‘too big for trial.'”

These are the witnesses present at the hearing:

Mary Miller, Under Secretary for Domestic Finance, U.S. Department of the Treasury

Daniel Tarullo, Governor, Board of Governors of the Federal Reserve System

 Martin Gruenberg, Chairman, Federal Deposit Insurance Corporation

Tom Curry, Comptroller, Office of the Comptroller of the Currency

Richard Cordray, Director, Consumer Financial Protection Bureau

Elisse Walter, Chairman, U.S. Securities and Exchange Commission

Gary Gensler, Chairman, U.S. Commodity Futures Trading Commission.