Economics Justice Upriser

Elizabeth Warren Demands Jail Time for Wall Street Bankers.

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Sen. Elizabeth Warren ripped Federal Reserve officials for not putting a single Wall Street banker behind bars for their role in the financial collapse.

>“After the savings and loans crisis, the government brought over 1,000 criminal prosecutions and got over 800 convictions,”

Ms. Warren became enraged after Federal Reserve Gov. Daniel Tarullo acknowledged that the agency might not have referred any bank executive to the Justice Department for criminal prosecution.

Wall Street executives, however, have negotiated billions of dollars in payments to the federal government to settle accusations of banks’ mortgage shenanigans. In other words they have “bribed” their way out.

>“The main reason we punish illegal behavior is for deterrence to make sure that the next banker who’s thinking about breaking the law remembers that the guy down the hall was hauled out in handcuffs when he did that,” Ms. Warren said. “The message to every Wall Street banker is loud and clear: If you break the law, you are not going to jail, but you might end up with a bigger paycheck.”

>“Something’s wrong with the Justice Department. People shouldn’t be able … to buy their way out of culpability,” said Alabama Sen. Richard Shelby, the top Republican on the Senate Banking Committee.


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“Elizabeth Warren Demands Jail Time for Wall Street Bankers.”