Words of Advice:

"Never Feel Sorry For Anyone Who Owns an Airplane."-- Tina Marie

If Something Seems To Be Too Good To Be True, It's Best To Shoot It, Just In Case." -- Fiona Glenanne

Flying the Airplane is More Important than Radioing Your Plight to a Person on the Ground
Who is Incapable of Understanding or Doing Anything About It.
" -- Unknown

"There seems to be almost no problem that Congress cannot,
by diligent efforts and careful legislative drafting, make ten times worse.
" -- Me

"What the hell is an `Aluminum Falcon'?" -- Emperor Palpatine

"Eck!" -- George the Cat

Friday, February 15, 2013

Sic `em, Senator!

Politico: Elizabeth Warren strikes fear into Wall Street

NEW YORK — Some bankers hoped that Sen. Elizabeth Warren, the liberal firebrand who helped create the Consumer Financial Protection Bureau, would be subdued in her first term as she learned the ways of the Senate. Warren’s avoidance of the Beltway media appeared to stoke these hopes.

Well, forget it.

Warren, a Massachusetts Democrat, came out blazing Thursday in her first high-profile appearance as a member of the Senate Banking Committee, ripping into regulators and starkly suggesting banks might be cooking their books.
Of course they've been cooking their books. Wells-Fargo as much admitted to it, saying that part of their valuation of their securities is, in part, "based on significant assumptions not observable in the market", which is bankster-spreak for "we're making all this shit up."

Fiction is one thing. Fiction being passed off as the value of something is pretty much cooking the books.

Go get `em, Senator!


bearsense said...

Hear, Hear !!!!!

Jeffrey Snyder said...

call me an eternal pessimist... but so what.
Do any bankers now get thrown in jail
Do any of these too big to fail banks get torn asunder

Comrade Misfit said...

Admittedly, it is a sad state of affairs when we are reduced to cheering because ony one of 100 senators is not a performing lapdog of the banksters.