Senator Warren Asks the Obvious, Verboten Questions

[don]

How much drug money does a bank have to launder before we consider shutting them down? – Senator Warren

[Slimprofits]

Re: Senator Warren Asks the Obvious, Verboten Questions

Opening line: "As Senator Reid said, the U.S. govt. takes money laundering very seriously..."

Is she a comedienne now?

The Four Pillars of International Banking: Money laundering, skirting political sanctions, tax evasion and arms trafficking.

[c1ue]

Re: Senator Warren Asks the Obvious, Verboten Questions

The Four Pillars of International Banking: Money laundering, skirting political sanctions, tax evasion and arms trafficking.

You forgot the One to Rule Them All: huge piles of profit

[don]

Re: Senator Warren Asks the Obvious, Verboten Questions

The Four Pillars of International Banking: Money laundering, skirting political sanctions, tax evasion and arms trafficking.

Looting pensions is running a close race for 5th leg . . .

[vt]

Re: Senator Warren Asks the Obvious, Verboten Questions

Of course many in both parties receive huge campaign contributions from FIRE. Then from time to time they publically attacks some excess of the banksters, until everyone forgets.

[dcarrigg]

Re: Senator Warren Asks the Obvious, Verboten Questions

Opening line: "As Senator Reid said, the U.S. govt. takes money laundering very seriously..."

Is she a comedienne now?

The Four Pillars of International Banking: Money laundering, skirting political sanctions, tax evasion and arms trafficking.

That's the banking committee.

I think you have your Reids and Reeds mixed up.

Senator Reed is to whom she referred.

[santafe2]

Re: Senator Warren Asks the Obvious, Verboten Questions

Is she a comedienne now?

No, she's one of two or three people in the government that cares what happens. At this point she's the canary in the coal mine. If they crush her, it's going to get worse for most people in the US. This is hardly a comedic moment.

[Polish_Silver]

Silo Bureaucracy

How much drug money does a bank have to launder before we consider shutting them down? – Senator Warren

This is a good example of "silo bureaucracy". This is explained by John Farmer (9-11 commission) in his book "The Ground Truth" . Each department gets lazy by narrowing their responsibility down to the smallest possible range. If something goes wrong, the answer is always "it's not our job". The "silo" takes up a small area, but has a lot of corn inside.
The bureaucracies don't take responsibility for much, but they have a lot of people and cost inside them. In between the silos, anything can happen and it's nobody's fault. I haven't read far enough to learn Farmer's solution.

If you have ever observed a bureaucracy at close range, the first thing you notice is that past a certain point, the bigger it gets, the less it does. The groups within the bureaucracy specialize, limiting thier own responsibility to their defined priorities. You can fire the top person, but beyond that it's hard to hold anyone accountable. Another aspect is an emphasis on methods rather than results.

If this problem gets to big, it threatens the plausibility of representative government.

[lektrode]

Re: Senator Warren Asks the Obvious, Verboten Questions

No, she's one of two or three people in the government that cares what happens. At this point she's the canary in the coal mine. If they crush her, it's going to get worse for most people in the US. This is hardly a comedic moment.

+1
she's also eminently more qualified than most of them to take on the nightmare known as TBTF
and even i would've voted for her!
altho EJ's comments/observations are certainly pertinent

[lektrode]

Re: Silo Bureaucracy

This is a good example of "silo bureaucracy". ....If you have ever observed a bureaucracy at close range, the first thing you notice is that past a certain point, the bigger it gets, the less it does. The groups within the bureaucracy specialize, limiting thier own responsibility to their defined priorities. You can fire the top person, but beyond that it's hard to hold anyone accountable. Another aspect is an emphasis on methods rather than results.

If this problem gets to big, it threatens the plausibility of representative government.

oh thats already occurred - hilarious the 1st guys comment about "largest penalty/fine ever"
when it likely amounted to less than the bonuses that were paid out for 'performance'

never mind 'profits' over the period of the crime(s)

laffable justification by the 'regulators' on their 'enforcement' actions - would call them facilitators, if not accomplices!

i have a few more observations on this one, quoting matt taibbi - but gotta go/shutdown, theys closing the door...

[vt]

Re: Senator Warren Asks the Obvious, Verboten Questions

Her mission to break up the banks is good. However her attack on business with her "you didn't build that" and her support for socialism makes her a problem for getting back to economic growth in this country. Like many socialists, she has gamed the system, speaking out against corruption then taking funds from businesses on the side.

[Munger]

Re: Senator Warren Asks the Obvious, Verboten Questions

Her mission to break up the banks is good. However her attack on business with her "you didn't build that" and her support for socialism makes her a problem for getting back to economic growth in this country. Like many socialists, she has gamed the system, speaking out against corruption then taking funds from businesses on the side.

God I hope you're trolling ....

[vt]

Re: Senator Warren Asks the Obvious, Verboten Questions

Just stating facts. I don't like many FIRE Republicans either.

[Verrocchio]

Re: Silo Bureaucracy

Silo bureaucracy is a weak explanation for what I saw in the video. I saw representatives of power (FIRE) very confidently refuse to provide direct answers to representatives of the weak (the people).

[lektrode]

Re: Silo Bureaucracy

Silo bureaucracy is a weak explanation for what I saw in the video. I saw representatives of power (FIRE) very confidently refuse to provide direct answers to representatives of the weak (the people).

well when they've all heard that "...from 40000feet nothing looked illegal...."
what would we expect?

but methinks this one sums it up purrrrfectly:




if ms warren has any b...s
err....um... i mean... guts (not to mention integrity) she'll get holder's butt in there to explain why these wannabee scarface types are given a free pass, billions in bonuses and T R I L L I O N S in bailouts, aka

WHY WALL ST GOT THE GOLDMINE and We, The People, aka MAIN STREET GOT THE SHAFT!???