Must Watch: Warren destroys Yellen’s position on “Too Big to Fail”.

This dialogue hasn’t received nearly as much attention as it deserves.

As we predicted this morning, Warren would grill Yellen over TBTF.  And Yellen would do little more than say the Fed is “looking into it”.

Sure enough, Yellen repeatedly attempted to deflect the issue.  Warren was having none of it.

This single clip summarizes the entire issue with TBTF:  It is abundantly clear that the Fed has zero intention of addressing the issue.

There’s so much here it’s hard to know where to begin.   Elizabeth Warren hits the nail exactly on the head:

The purpose of section 165 of Dodd Frank is to insure that there is a credible, rapid and orderly mechanism for resolving failed banks.  

If such a mechanism does not exist, the authority to break up the bank is granted.  

In the case of JP Morgan, such a mechanism does not exist. 

 

  • somas wodi

    an American Tax payer…..you have got to be frickin kidding…any broke dick who file a 1040 tax return as a slave is not an Ameican Taxpayer….their are franchise holders of the debt of an bankrupt corporate entity operating as a defunct government which is in fact not a government but just a corpotation just like GM or GOOGLE…..when will the american people wake the frick up…the Federal Reserve is an offshoot of the Bank of England through the primary shareholder being the Rothschild dynesty….the whole corportate structure is fraud upon fraud….and the american people are too busy watching some asshole kick a fricking ball into a net or watchcing some dumb ass dunk a ball into a basket or voteing on who has a better ass…….wake the fuck up ….thier idea is corrupt, repugnet and obsolite…….the UNITED STATES created as a result of the jesuit invasion and the bifercation of the Constutition of the united States of America is a bankrupt republic since its inception…….all happened in the organic act of 1871…….the jesuits control the money and finance …the courts …the transportation, the indrctination of the useful idiots of american …ie the students who do not get an education they get an indroctination……to be useful little tax paying, code compliant, regualted into obliviion slaves….nothing more and the whole American Bar Association is the the shadow government all working for the demise, rape and destruction of the Ameircan way of life….and if you doubt me …just turn on the digital shephard and watch the whore of the media engage in another round of programming….TV guide and what is there prin ted in black letters in white paper….the word “PROGRAMMING”…….step up for some good old fashion programming…BTW YOU BROKE DICKS ARE ALL FIRED….GO FIND ANOTHER FRCIKING PLANET ALONG WITH THE ZIONIST JEW SUCKING SCUM BASTARDS TO DESTROY….cause the american people are wakin up and when it is completed….the pitch forks are coming out….the ropes are going to be occupied and the heads will line pennsylvania avenue and wall street with the remenants of the scum who tried to destroy America…..AND the queen gestpo bitch in england will become just an image on a fuckign postage stamp…and the whores she promoted will cease to exist….watch this and mark one’s words…..nough said

    • cowboybob

      take your meds like the good Doc said, you will be more coherent. I know that the manic-depressant types hate to take their meds because they miss their manic phase where they think they are so creative. Profanity never impresses one as being very intellectual.

    • anon

      zzzzzzzzzzzzzzzzzzzzzzzzz

  • rrrr

    Congress is weak. It cannot tell the Fed to do something and rely on it being done. In this affair the US government is helpless. The US is no longer a strong country. Everyone sees this. All it takes is one strong predator nation and the sheep will have its throat cut.

    • KDI

      Although myth would
      have it that the USA has been colonizing countries all over the world, in the
      interest of bringing democracy, perhaps that is the biggest myth? The USA
      is itself still a colony. That was carved in stone in 1913 with the
      Federal Reserve Act. The USA has merely been the military arm for the
      global elite.

      The USA is nearly bled dry, and for a long time,
      everyone went along relatively blissfully as they were being herded and raped
      – without even realizing it. The USA was never an empire, but just a
      tool — all of us, though difficult to acknowledge I would agree. And,
      when an empire dies, another is reborn, and the same blood-sucking vampires and
      their spawn continue to run it.

      But this time it is a lot different than when
      the usury scam started, if only due to serious climate change that will likely
      bring about the end of all of us. This uneasiness of the power elite as
      to the potential of their own mortality has made me wonder, what are they
      cooking up now in their dungeon think tanks?

    • anon

      get to rehab ASAP

  • somas wodi

    ok look the whole IRS code is fraud….stop filing a 1040 and file a 709 because the classification of the act as a Gift and Estate tax……..code 6001 states when ever in the judgement of the secretary he may require by notice served on such person top comply with the rules and regulations as the secretary from time to time may be required…………..the way any slave signs and or enters the so-called name is “JOHN L. SLAVE” is the co-trustee of the ENTITY SLAVE………..and sure go listen to some broke dick a-turn-on me and become a ward of the court….now lets see ..the event and issue that occured when one was born in a foundling institution, needful building, and jesuit donation center…other wise known as a “hospital” and then the baby is born and the mother abandones the Afterbirth on the floor and under the Law of Salvage the Jesuits come in and adminster a Salvation operation onto the blob of bloody mees known as the imaculate conception and claim the afterbirth and title it whcih has no DNA from the father and then the mother creates a literuary work of art by appling for a Certificate of Live Birth and then by operation of law and Constructive Fraud where the mother informs on the event and issue and place here maiden name and address and then the state make the claim that the child (Representation of Christian Art) was born out of wedlock…..really boys and girls…..really….no way you are out of your mind…..really go check it out…so you went from the Matrunity Ward to a Ward of the State and then when you hire an attorney you become a ward of the Court….really ….really…..not in america…we are born free…HORSE SHIT……YOU HAVE ALL BEEN PROGERAMMED TO BE SLAVE WHORES AND ARE NOTHING MORE THAT CATTLE………………..

  • somas wodi

    really moderate this

  • somas wodi

    well it is pretty aparent that some one behind the scenes either has a note from god or they have the authority to violate one’ free speech ….got a name there brother….who has the guts to step out from behind this censorship of one’s free speech!!!!!!

    • Diamond_Jim

      You don’t have freedom of speech on someone else’s website. Build your own…

      • UNCLE ALBERT

        WHY DON’T YOU GO ET YOUR 45 AND GIVE IT A NICE BLOW JOB dip shit

        • Diamond_Jim

          @uncle albert Thoughtful response. We’re lucky to have an Aristotelian such as you here on this forum.

        • anon

          Troll of the Day ..award winner

  • http://barefootblogger.siterubix.com/ Gen

    A well-deserved grilling.

    • Wide eyes shut.

      That was a grilling? I saw no smoke and heard no crackling of fat. That ‘s the grilling these guys and gals need.

      • http://barefootblogger.siterubix.com/ Gen

        Suppose you are right there. Ought to set up a spit and turn them over to get the juices out.

  • Black

    Maybe I missed it there, somewhere, but did Mr. Yellen actually answer the question?

  • Inez Babington

    What kind of world do we live in when Lie-awatha is the only one who asks the Ponzi Munchkin a pertinent question?
    As to Lie-awatha’s motives, consider this: What if she ‘knows’ something big is about to happen? Wouldn’t clips from this video be PERFECT for ads when she is running for president?

  • anon