Like many Americans, Sen. Elizabeth Warren wants to know why the DOJ hasn't criminally prosecuted anyone responsible for the 2008 financial crisis. On Thursday, Warren released two highly provocative letters demanding some explanations. One is to DOJ Inspector General Michael Horowitz, requesting a review of how federal law enforcement managed to whiff on all 11 substantive criminal referrals submitted by the Financial Crisis Inquiry Commission (FCIC), a panel set up to examine the causes of the 2008 meltdown
Roger Lowenstein, the journalist-turned-chairman of the Sequoia mutual fund, criticizes Warren, “the nation’s unelected regulatory czar,” for being too outspoken about the financial industry. Lowenstein is the director of a mutual fund, which stands to lose significant market share if investors leave for index funds. So his hit job on Elizabeth Warren has the dual purpose of lobbying a regulatory agency to protect his business.
In an extraordinarily rare move, Senate Majority Leader Mitch McConnell interrupted Warren's speech, saying she had breached Senate rules by reading past statements against Sessions from the late senator Edward M. Kennedy (D-Mass.) and the late Coretta Scott King.
Sen. Elizabeth Warren had a confounding exchange with Treasury Secretary Steven Mnuchin at a Senate Banking Committee hearing today. Mnuchin indicated that the Trump administration supports a 21st century version of the Glass-Steagall Act, except for the part about separating commercial and investment banks, which is substantially what is meant by Glass-Steagall.
the Massachusetts senator tipped as a Democratic presidential candidate
in 2020, has unveiled new plans for legislation aimed at reining in big
corporations, redistributing wealth, and giving workers and local
communities a bigger say.
The proposed $28 billion merger
announced Thursday between large regional banks SunTrust and BB&T
is the biggest banking tie-up since the financial crisis, creating what
would become the nation’s sixth-largest bank. And it’s a direct result
of actions taken by the Trump administration and the bipartisan group of
lawmakers who passed a bank deregulation bill in 2018.
One of America’s major
political parties may not yet be willing to acknowledge that climate
change is real, but it is already having significant effects on the U.S.
military. Flooding in Nebraska and a hurricane in Florida
that damaged military installations led to a recent Pentagon request of
$5 billion in relief money. Now Sens. Elizabeth Warren, D-Mass., and
Jack Reed, D-R.I., are calling on the Government Accountability Office
to assess military contractors’ vulnerability to climate risks.
Sen. Elizabeth Warren is unveiling a new way to tax corporations: Take them at their word.
Due to the vagaries of American
corporate accounting, companies routinely tell investors on conference
calls that they made billions in profit over the previous quarter, then
turn around and tell the IRS that, actually, they made no money at all,
so they don’t owe any taxes. Warren’s plan would tax those companies on
the profits they claim publicly.
Elizabeth Warren wants to cancel part or all student loan debt for 95
percent of Americans and make public college free for everyone—the
latest, and perhaps most ambitious, policy proposal for the 2020
Warren announced the policy in a Medium post Monday morning.
With a populist message that promises to rein in corporate excess, Ms. Warren has been facing more hostility from the finance industry than any other candidate. From corporate boardrooms to breakfast meetings, investor conferences to
charity galas, Ms. Warren’s rise in the Democratic primary polls is
rattling bankers, investors and their affluent clients, who see in the
Massachusetts senator a formidable opponent who could damage not only
their industry but their way of life.