"It’s too early to consider a President Elizabeth Warren, but..." From the Raleigh NC News & Observer: Tighten controls on big banks It’s too early to consider a President Elizabeth Warren, but it would be good if the freshman U.S. senator from Massachusetts and scourge of the financial industry could set the Obama administration’s priorities for a few months. Maybe then Americans would start to see action on two big gaps in the president’s record. No. 1 is the failure to vigorously prosecute the villains behind the financial crisis that blew up the U.S. housing market and vaporized many Americans’ home equity, savings and jobs. No. 2 is the failure to put in place the regulations and oversight needed to keep it from happening again. ... “Despite the progress we’ve made since 2008, the biggest banks continue to threaten the economy,” Warren said in a statement announcing the new bill. “The four biggest banks are now 30 percent larger than they were just five years ago, and they have continued to engage in dangerous, high-risk practices that could once again put our economy at risk.” That risk needs the tough approach to oversight that Warren is not afraid to advocate. Cross-posted to Elizabeth Warren Group
Posted on: Mon, 26 Aug 2013 11:34:18 +0000
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