Saturday, January 16, 2016

Senator Warren on the Goldman Sachs settlement

Following up on this post, following is Senator Warren's FB response. The progressive hope is that Sanders gets the nomination and chooses her as his running mate. Then they not only win the White House but bring back Congress to the progressives on their coattails.

"In the 2008 financial crisis, we lost trillions in wealth and millions of people lost their homes and their jobs because of Wall Street recklessness. Today, Goldman Sachs announced it will pay $5.1 billion for its role in precipitating the economic collapse by misleading investors about the quality of the junk mortgage securities they peddled. Seven years later. No admission of guilt. No individuals are going to jail. A payment that’s barely a fraction of the billions investors lost – and the trillions our economy lost – because of this fraud. And over half of it could be tax deductible! That’s not justice – it’s a white flag of surrender.

"It’s time to end this farce. These companies think they’re above the law – and too many government officials go along with them. A first step would be to pass the bipartisan Truth in Settlements Act to shine more light on these backroom deals. A second step would be to get government officials who have the backbone to fight back."

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