Yesterday, in her first hearing as a member of the Senate Banking Committee, Sen. Elizabeth Warren wasted no time in turning up the heat on the heads of the nation’s seven top financial regulators (from the SEC, Treasury, Federal Reserve, FDIC, Comptroller of the Currency, CFPB, and the CFTC). “The question I really want to ask,” Sen. Warren stated, “is about how tough you are? About how much leverage you really have in these settlements [with Wall Street financial institutions]? …. Tell me a little bit about the last few times you’ve taken the biggest financial institutions on Wall Street all the way to a trial? … [SILENCE] … Anybody??”
