Elizabeth Warren asks the right question. Gets no answers.

Posted on March 9, 2013 by | 8 Comments

Why I love this woman – speak truth to power Senator, make them squirm.

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8 responses to “Elizabeth Warren asks the right question. Gets no answers.”

  1. Elyse | March 9, 2013 at 11:30 am | Reply

    She is something else! You go Elizabeth!

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  2. susie | March 9, 2013 at 12:47 pm | Reply

    Nice to see you back! Elizabeth is the best.

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  3. Jim Wheeler | March 9, 2013 at 3:12 pm | Reply

    I too love this woman. Being curious about the numbers in this case, I looked it up:

    LONDON — HSBC, Britain’s biggest bank, said on Monday that its net profit fell 17 percent last year because of a record fine to settle money laundering charges and changes related to the value of its debt.

    Profit fell in 2012 to $13.5 billion from $16.2 billion a year earlier, failing to meet analysts’ expectations. The bank also missed its own target of return on equity of 12 to 15 percent, recording only 8.4 percent on the measure last year. Its shares fell 2.5 percent in London on Monday.

    Despite the drop in earnings, HSBC disclosed Monday that 204 employees were each paid more than £1 million, or about $1.5 million, last year, compared with 192 who received more than £1 million a year earlier. The bank cut its bonus pool to $3.7 billion in 2012 from $4.2 billion across the entire company but slightly increased the amount it set aside to pay its investment banking staff.

    The record fine that Treasury is talking about was $1.92 billion, or 14.2% of profits. Hmm. So now I’ve got this fantasy scenario in my head where a Senator questions a city prosecutor:

    Senator: So, Mr. Jones, I understand that you have evidence that Mr. Capone has been offering anti-violence insurance policies to the downtown merchants and collected a million dollars in premiums last year. Tell us about that.

    Jones: Yes senator, that’s right. When we learned of it we threw the book at him and the court fined him $140,000. We take pride that we got our man in this case and his fine is a new record.

    Senator: But, Mr. Jones, what about jail time?

    Jones: Sorry Senator, but this is one of those white-collar offenses and we couldn’t get the merchants to testify for a criminal prosecution. In fact, by a strange coincidence several of them were in hospital with broken legs at the time of the investigation.

    Senator: Well Mr. Jones, that was last year. What’s going on with Mr. Capone this year?

    Jones: Well, we understand that insurance rates along the strip have gone up 15% this year, so we hauled him in and gave him a good talking to. I told him if this keeps up his fine is going to increase at least 2% over what it was last year. I think he got the message, but we’re keeping an eye on him.

    Senator: I have a headache.

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    • Moe | March 10, 2013 at 12:47 pm | Reply

      Jones: I understand, Senator, that Mr. Capone has a way to separate you from that head, eh, I meant headache.

      Jim, the cavalier way they continue to reap the benefits of their crimes makes my head explode. I feel like Alice through the looking glass.

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  4. Woodstock | March 9, 2013 at 9:12 pm | Reply

    Welcome to the Senate, Elizabeth. Boy do we need you! What were those guys afraid of?

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  5. jonolan | March 10, 2013 at 9:53 am | Reply

    Mmmm…She heap tough squaw! Not very good with numbers or knowing her place or that of the Senate but very tough…like old jerky left in sun too long. 😆

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