Elizabeth Warren calls out regulators for zero criminal prosecution of bankers

Following the Savings and Loan crisis in early 80’s, the FBI was referred more than 5500 files for criminal investigations from financial regulators which led to more than 1000 criminal prosecutions and more than 800 individual convictions and jail time:

“The law on this is clear, no corporation can break the law unless an individual within that corporation broke the law”…After 35 billion of fines and repeated admissions of wrong doing by financial institutions since 2008,”Can you tell me how many senior executives at financial institutions the Fed has referred to the Justice department for prosecution?”

The outrageous answer: zero.

Warren then goes on to point out yet again that 6 years after the financial crisis, too big to fail banks still have no reasonable proposal for their own resolution on failure without taxpayer bailouts, and this is in direct breach of the Fed’s given mandate to step in and break up the banks who do not.

Here is a direct video link.

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