{"id":32528,"date":"2013-02-15T09:08:39","date_gmt":"2013-02-15T16:08:39","guid":{"rendered":"http:\/\/hill-kleerup.org\/blog\/2013\/02\/15\/to-big-for-trial.html"},"modified":"2013-02-22T15:47:50","modified_gmt":"2013-02-22T22:47:50","slug":"to-big-for-trial","status":"publish","type":"post","link":"https:\/\/hill-kleerup.org\/blog\/2013\/02\/15\/to-big-for-trial.html","title":{"rendered":"To Big for Trial"},"content":{"rendered":"
Between the revolving door of federal financial regulators and the financial institutions they supposedly regulate, and the interests in Congress that keep that regulation at a minimum (in what is covered and in what resources are available to prosecute it), Wall Street basically just has to treat any settlement fines as a blip in quarterly profitability, coupled with occasional embarrassing hearings for executives before Congress. Which is why these endless settlements have become just the cost of doing business in the banking world, ho-hum, let's move on to the next scheme do defraud …\u00a0<\/p>\n

"We all understand why settlements are important, that trials are expensive and we can\u2019t dedicate huge resources to them,\u201d said the Senator during today\u2019s hearing on Wall Street reform and regulatory oversight. \u201cBut we also understand that if a party is unwilling to go to trial \u2014 either because they\u2019re too timid or because they lack resources \u2014 that the consequence is they have a lot less leverage in all the settlements that occur.\u201d<\/i>\u00a0<\/p>\n

Glad to see someone is, at a bare minimum,<\/i> giving these regulators a stern talking to.<\/p>\n

Reshared post from +Les Jenkins<\/a><\/strong><\/p>\n

THIS! This is the sort of questions that need to be asked of our regulators. They are FAR too fucking cozy with the people they're tasked with overseeing.\u00a0I AM SO HAPPY SHE GOT ELECTED!\u00a0<\/p><\/blockquote>\n<\/div>\n

\n

\n \n <\/div>\n

Sen. Warren Asks Bank Regulators If \u201cToo Big To Fail\u201d Has Become \u201cToo Big For Trial\u201d<\/a>
\n Sen. Elizabeth Warren grilled bank regulators on their failure to take banks to trial. In her first hearing as a member of the Senate Banking Committee, Massachusetts Senator and longtime Consumerist favorite Elizabeth Warren grilled a panel of regulators on their tendency to settle with law-breaking banks rather than go to trial.
\n\u201cWe all understand why settlements are important, that trials are expensive and we can\u2019t dedicate huge resources to t…\n <\/p>\n

View this post on Google+<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Between the revolving door of federal financial regulators and the financial institutions they supposedly regulate, and the interests in Congress that keep that regulation at a minimum (in what is covered and in what resources are available to prosecute it), Wall Street basically just has to treat any settlement fines as a blip in quarterly … Continue reading “To Big for Trial”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[106],"tags":[],"class_list":["post-32528","post","type-post","status-publish","format-standard","hentry","category-plusposts"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":18861,"url":"https:\/\/hill-kleerup.org\/blog\/2010\/10\/08\/unblogged-bits-fri-8-oct-10-1130.html","url_meta":{"origin":32528,"position":0},"title":"Unblogged Bits (Fri. 8-Oct-10 1130)","author":"***Dave","date":"Fri 8-Oct-10 11:30am","format":false,"excerpt":"Links (most recent first) that caught my eye, but did not warrant full-blown blog entries .... The global warming witch hunt continues - Expect, to the extent that they gain more governmental power this election, the climate-skeptic (Big Oil\/Coal-reliant) GOP to further harass and hinder this kind of critical research.\u2026","rel":"","context":"In "Potpourri"","block_context":{"text":"Potpourri","link":"https:\/\/hill-kleerup.org\/blog\/category\/potpourri"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":133324,"url":"https:\/\/hill-kleerup.org\/blog\/2017\/04\/23\/congressfolk-on-the-mexican-border-are-not-supporting-trumps-wall-demands.html","url_meta":{"origin":32528,"position":1},"title":"Congressfolk on the Mexican border are not supporting Trump's Wall demands","author":"***Dave","date":"Sun 23-Apr-17 12:48pm","format":false,"excerpt":"This is actually fairly astounding. No US Senator or House member -- from either party -- in a state\/district backing up against Mexico is supporting Trump's insistence on getting $1.4 billion in funding for his Great Wall into the stop-gap federal budget bill that has to be passed in the\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28509,"url":"https:\/\/hill-kleerup.org\/blog\/2012\/07\/10\/an-indication-of-whats-wrong-with-wall-street.html","url_meta":{"origin":32528,"position":2},"title":"An indication of what's wrong with Wall Street","author":"***Dave","date":"Tue 10-Jul-12 11:17am","format":false,"excerpt":"In a survey of 500 senior Wall Street\u00a0executives in the US and UK ...- 24% said \"financial services professionals may need to engage in unethical or illegal conduct to be successful\"- 16% said they would commit insider trading violations if they thought they could get away with it.- 30% said\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":133735,"url":"https:\/\/hill-kleerup.org\/blog\/2017\/06\/26\/church-and-state-and-demographics.html","url_meta":{"origin":32528,"position":3},"title":"Church and state and demographics","author":"***Dave","date":"Mon 26-Jun-17 7:49pm","format":false,"excerpt":"It's occasionally illustrative to our own nation (for those who have eyes to see) when majority-religion issues tie up governments in knots over providing equity across sectarian lines when the majority population sees no reason to do so. Because That's How Things Are, and doing it differently is therefore Clearly\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23141,"url":"https:\/\/hill-kleerup.org\/blog\/2011\/10\/21\/unblogged-bits-fri-21-oct-11-0530.html","url_meta":{"origin":32528,"position":4},"title":"Unblogged Bits (Fri. 21-Oct-11 0530)","author":"***Dave","date":"Fri 21-Oct-11 5:30am","format":false,"excerpt":"Links (most recent first) that caught my eye, but did not warrant full-blown blog entries .... Decades Old Calvin and Hobbes Strip Succinctly Explains Occupy Wall Street Movement Sen. Sessions Wants To Cut Food Stamp Program, Claiming It Has \u2018Surged Out Of Control\u2019 - \"Well look, do you think there\u2026","rel":"","context":"In "Potpourri"","block_context":{"text":"Potpourri","link":"https:\/\/hill-kleerup.org\/blog\/category\/potpourri"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26686,"url":"https:\/\/hill-kleerup.org\/blog\/2012\/02\/27\/uncoordinated-voices-on-the-attack.html","url_meta":{"origin":32528,"position":5},"title":"Uncoordinated voices, on the attack","author":"***Dave","date":"Mon 27-Feb-12 11:02am","format":false,"excerpt":"Part of this is due to \"throw mud from all directions and see what sticks\" (also known as the \"Obama is Simultaneously a Muslim and an Atheist\" conundrum), but it's also one of the disadvantages of the growth of independent, uncoordinated, well-financed opposition groups: they sometimes end up contradicting each\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts\/32528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/comments?post=32528"}],"version-history":[{"count":0,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts\/32528\/revisions"}],"wp:attachment":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/media?parent=32528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/categories?post=32528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/tags?post=32528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}