Sen. Warren Wants Details on ‘Too Big for Trial’ Bank Settlements

By Sarah N. Lynch | May 15, 2013

  • May 15, 2013 at 11:43 am
    Center Point says:
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    Too big to fail; too big for trial? Nah. It is about time someone is taking a deep look into this. After all the high stakes swindles that went on that took the U.S. to the brink of the next Great Depression, only Martha Stewart went to jail? Seriously, guys? OnlyMartha Stewart?

    Go get’em, Senator Warren.

  • May 15, 2013 at 2:37 pm
    Holly Marchak says:
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    Ponzi schemes are an ever increasing crime. They still keep occurring as does this same conversation about whether “Banks are too big to be sued”. When is someone going to step up to the plate and realize that the banks, w ith all their technology, know when something suspicious is going on with individuals who later turn out to be Ponzi schemers. My family and I are victims of a Ponzi scheme–Phil Barry/Leverage Co. Of Bay Ridge, Brooklyn, NY. He was able to bounce 500 checks per year from 2004-2009, as investigated by the FBI in his criminal trial. That was only the four years that was investigated, he perpetrated his Ponzi scheme for 30 years, and was called the longest running Ponzi scheme, by the FBI. At present, we are being held back from suing the big banks like JP Morgan Chase because of a law known as SLUSA, which is in the hands of the Supreme Court presently. I am hoping that Senator Warren will put her best foot forward to help the little people, who make up most of this world, and those lives that are being destroyed by these Ponzi schemes. If the Big banks would have done a little due diligence, so many victims would have been spared of this tragedy and injustice. Look for our full story on this new Season 7 of American Greed.

    • May 15, 2013 at 3:58 pm
      Center Point says:
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      Dear Holly: Sorry for your family’s losses and hope the Supreme Court brings financial and judicial remedies. But doesn’t it seem strange that Congress is putting all of their effort into the Bengazi hearings and let the financial culprits have a cakewalk? Life is not fair, but this is beyond crazy.

      • May 15, 2013 at 4:53 pm
        Holly Marchak says:
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        Dear Center Point,
        You are right on target. Every time something comes close to some form of justice –it comes and than it goes. They seem to show an ounce of care and than you fall back into the same position you were originally in. And that is that no one seems to truly care, especially the people that can really count. I cannot blame the rest of the world because they are kept blinded by this scenario. You’d be surprised to know that no one knows what a Ponzi victim is nor do they realize how big the banks really are. They can get away with everything including murdering the financial lives of innocent and caring people. I pray for a miracle everyday that an angel will come and help. Maybe that angel could be Senator Warren.

        • May 15, 2013 at 6:10 pm
          Agent says:
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          Holly, if you think a politician is really going to help the average Joe with this, you will be disappointed. This alleged part native American lier is not the one to do the job. She just wants to make a splash, grab a few headlines and in the end will do no one any good.

          • May 15, 2013 at 6:48 pm
            Holly Marchak says:
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            Dear Agent,
            I hope u r wrong but unfortunately the little people which make up most of the world are the quietest and the people that make the most voice, r the ones that r heard from the most. And yet, nothing produces from their voices. But I won’t give up. I believe in miracles.

        • May 15, 2013 at 7:08 pm
          Center Point says:
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          Holly, you will be pleased to know that the GOP demanded jail time for the IRS who had the nerve to investigate the Tea Party. Now that was swiftboat justice.

          • May 15, 2013 at 8:03 pm
            Holly Marchak says:
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            Dear Center Point,
            Now I would like to see some justice done with the wrong that has been done by the Big Banks like JP Morgan Chase.

        • May 16, 2013 at 12:56 pm
          Jeff says:
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          Senator Warren’s predecessor, Scott Brown, got Congress to pass the STOCK Act, that would have made it more difficult for Congress and their staffs to trade in insider information. Just a few weeks ago Senator Warren joined her collagues in gutting the act in what passes for bi-partisan action with this group. I don’t think she is all wrong in this case, but my view is that the best solution is to let these banks, and other assorted clowns, fail.

  • May 16, 2013 at 11:02 am
    D says:
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    Bank deregulation is the prime cause of the fiancial crisis of 2008. Credit default swaps and the like, banks selling toxic mortgages, would not have been legal prior to bank deregulation which Clinton signed into law and the republicans were solidly behind. I hope Warren can follow through on this.

  • May 17, 2013 at 8:17 am
    Milner says:
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    Perhaps the SEC settles because even though actions look strange, they are not illegal. The SEC doesn’t want to lose. Perhaps the defendants settle just to keep themselves out of a years-long defense.



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