Daily Archives: March 8, 2013


Elizabeth Warren: Banks Get Wrist Slaps While Drug Dealers Get Jail

The Huffington Post has the article Elizabeth Warren: Banks Get Wrist Slaps While Drug Dealers Get Jail.

Sen. Elizabeth Warren unloaded on bank regulators Thursday about the fact that British bank HSBC is still doing business in the U.S., with no criminal charges filed against it, despite confessing to what one regulator called “egregious” money laundering violations.

Her comments came just a day after the attorney general of the United States confessed that some banks are so big and important that they are essentially above the law. His Justice Department’s failure to bring any criminal charges against HSBC or its employees is Exhibit A of that problem.

 

After this video, there is the one with Ben Bernanke, and another one after that. In the one with Ben Bernanke, apparently the idea never occurred to him no matter what Warren said that he could charge the banks a fee for getting $83 billion in insurance.

Thanks to CarolG for bringing this article to my attention.


After Dinner Diplomacy, What’s Next for Obama and GOP?

Real Clear Politics has the article After Dinner Diplomacy, What’s Next for Obama and GOP?

Wisconsin’s Sen. Ron Johnson, a former accountant and Tea Party favorite, told reporters the conversation was lively when the subject turned to Medicare. Obama, he said, conceded aloud what his own budget blueprints lay out – that Medicare, the government’s health coverage for the elderly, is projected to bleed red ink in the future because of rising health care costs and an aging population.

Johnson quoted the president as telling the dozen senators at the Jefferson Hotel that “the American people, most of them, just don’t understand it. They think with Medicare, that’s their money. And to a certain extent it is: one dollar they put in, and get 3 dollars back in benefits.”

Listening to Obama lament Americans’ confusion about whether Medicare beneficiaries tap their own or other people’s money, Johnson said he urged him to spread some light and not just heat.

“You have a unique position,” the senator recalled telling Obama. “If you are going to solve these problems, the American people are going to have to understand it. You can go out and educate people to prepare them for the reforms that are absolutely necessary.”

This has got to be the scariest article I have ever read.  One can only hope that Sen. Johnson is a complete loon and misheard what President Obama said.