Warren Presses Anew for Prosecution of Wall Street Execs – NMP Skip to main content

Warren Presses Anew for Prosecution of Wall Street Execs

Phil Hall
Sep 15, 2016
Sen. Harry Reid (D-NV) has looked into the future and does not see Sen. Elizabeth Warren (D-MA) as a viable candidate for the Democratic Party’s presidential nomination in 2020

Sen. Elizabeth Warren (D-MA) is making new calls for explanation on why the Wall Street executives at the center of the 2008 crash were never prosecuted, and she is pointing out the Federal Bureau of Investigation’s (FBI) handling of the Hillary Clinton e-mail server probe to bolster her case.

According to a Bloomberg report, Warren sent a letter to Michael Horowitz, inspector general for the U.S. Department of Justice (DOJ), demanding to know why no one mentioned in the 2011 Financial Crisis Inquiry Commission report for possible prosecution was ever brought to trial. Warren said the lack of indictments was “outrageous and baffling” and added that the “DOJ record of action on these individuals, nearly six years after DOJ received the referrals, is abysmal.”

Warren also noted the statute of limitations on many financial crimes is 10 years, and she urged Horowitz to “act quickly to open an investigation.”

Warren also wrote to FBI Director James Comey for the release of “any and all materials related to the FBI’s investigations and prosecutorial decisions regarding these referrals.” Warren defended her call for this information by noting Comey’s decision to release a statement that included hitherto unknown information about Clinton’s private e-mail server.

“Your recent actions with regard to the investigation of former Secretary of State Hillary Clinton provide a clear precedent for releasing additional information about the investigation of the parties responsible for the financial crisis,” Warren wrote.

To further push her case, Warren used a rare media interview to call attention to the issue. Speaking with Bloomberg Businessweek, she expressed outrage over the DOJ and FBI’s failure to see prosecution for those at the center of the financial meltdown.

“There’s a clear public interest in finding out why none of these individuals or corporations were held responsible,” she said. “The public outrage is still there. This is about reminding our government officials who they work for.” 

Sep 15, 2016
Regulatory Review, Reformatted

The progress made to date with NMLS modernization

Regulation and Compliance
Dec 01, 2021
November Surprise: Fed May Accelerate Tapering

Chairman Powell tells Congress of concerns about inflation, COVID-19 variant’s effect on recovery.

Regulation and Compliance
Dec 01, 2021
FHFA's 2022 Conforming Loan Limit Maxes Out At Nearly $1M

Baseline limit for Fannie, Freddie increases to $647,200, but for 'high-cost areas' loan ceiling set at $970,800 for single-family homes.

Regulation and Compliance
Dec 01, 2021
Regulators Are Back In The Saddle

There’s not only a new sherriff in town, it’s a whole gang of them.

Regulation and Compliance
Nov 29, 2021
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021
Regulators Renew Effort to Protect Against Foreclosures

CFPB, The Fed, FDIC and other agencies will watch for compliance with COVID-19 protections

Regulation and Compliance
Nov 10, 2021