Banking on a Lighter Note

Elizabeth WarrenThe accolades for Elizabeth Warren keep rolling in on the petition. If you have not had a chance to sign it or leave a comment, click here. While you are at it, check out the amusing video produced by the Main Street Brigade to promote her candidacy for the head of the Consumer Financial Protection Bureau.

The Washington Post reports that Warren has been spotted meeting with bankers. No, I don't believe she has gone to the dark side, however I do believe that this indicates the administration is serious about her nomination and has asked her to build some bridges.

Wouldn't you like to be a fly on the wall when she meets with Goldman Sachs CEO Lloyd Blankfein: "so Lloyd, are you still selling securities that are designed to fail?" Or with Wells Fargo CEO John Stumpf: "have you stopped juggling customer late fees to maximize the pain for consumers?" These are just some of the big bank tricks featured in our last column.

Let's hope Obama picks her soon, America is waiting for a little relief from the Banksters.

Also released recently is this rocking video of a new bankster song "We Didn't See it Coming". It features of Blankfein and Robert Rubin testifying before the Financial Crisis Inquiry Commission earlier in the year. The video was developed to highlight an excellent NPR story "How Wall Street Made the Mortgage Crisis Worse," produced by Planet Money. Excerpt below:

I'm going to cut to the chase and tell you our conclusion first.

We believe we can show that some Wall Street bankers had evidence, a year or two before the financial crisis hit, that there were serious problems with subprime mortgage investments.

Rather than wind down this business, they sped it up using financial trickery. These people earned huge bonuses for their actions. They also made the crisis considerably larger and more damaging.

Give it a listen, here.

Mary Bottari

Mary Bottari is a reporter for the Center for Media and Democracy (CMD). She helped launch CMD's award-winning ALEC Exposed investigation and is a two-time recipient of the Sidney Prize for public interest journalism from the Sidney Hillman Foundation.


conspiracies say the financial market is absolutely orchestrated. It's not surprise that wall street sped things up their way to let the people in the higher levels of the pyramid benefit most.