Elizabeth Warren is one of the few Senators out there pushing to understand why the federal government has created an untouchable class of criminals in America that can do whatever they want whenever they want and, not only get away with it, but also get bailed out when they make mistakes. In case you missed it, I highlighted a powerful video a few months ago in which she made regulators squirm when confronted on “too big to jail.” Now she has written a letter to Ben Bernanke, Eric Holder and Mary Jo White. My favorite line is:
“If large financial institutions can break the law and accumulate millions in profits and, if they get caught, settle by paying out of those profits, they do not have much incentive to follow the law.”
Indeed, which is why they don’t. Full letter embedded below.