Criticizing government prosecutors for failing to hold senior bank executives criminally liable for the financial crisis is nothing new, but Sen. Elizabeth Warren, D.-Mass., in a hearing on Tuesday spread the blame further, lambasting the Federal Reserve and other banking regulators who appeared before the U.S. Senate Committee on Banking, Housing and Urban Affairs.
Bank regulators can’t bring criminal cases themselves, but Warren wasn’t about the let them off the hook, noting that they’re supposed to refer wrongdoers to the U.S. Department of Justice for prosecution.
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