Senator Elizabeth Warren (D-MA) asks regulatory agencies for criminal enforcement statistics since zero Big Time Wall Street criminals have been prosecuted since 2008 – 5+ Years.
Despite SIGTARP’s puny 164 staffing and $48 Million budget, they secured dozens of convictions.
Yet the three bank regulators receive $Billions / year and 1,OOOs of staff with zero results in 5+ years.
Warren’s six questions to FED, SEC, and OCC:
1. # Individuals and Senior officials your agency has charged criminally;
2. # Criminal convictions your agency has obtained;
3. # Prison sentences your agency has secured;
4. # Individuals and Senior officials charged civilly;
5. # Individuals your agency has suspended or permanently banned from working in the financial industry or elsewhere;
6. Total amount of funds your agency has obtained through civil judgment or orders of restitution.
Big banks have spent $66 Billion on legal fees related to the financial crisis.
Six Big banks have looted $207 Billion over last 3.5 years.