Today I learned that Senator of Massachusetts Elizabeth Warren voiced her severe critique of America’s so called “too big to fail” big banks, using an opportunity given by the recent disclosure of Wells Fargo’s fraudulent practice to its own customers (the big bank’s brazen, immoral behavior seems to have no end to it !!). She lambasted the Department of Justice that failed to prosecute any of the executives of the “too big to fail” banks involved in 2008 US financial melt-down as well as Wells Fargo’s “high-pressure sales culture that spurred employees in its branch network to create 1.5 million checking accounts, and issue almost 600,000 credit cards, to customers who didn’t want them” (Forbes).
I am glad both CNN (which, these days, seems to use a great part of its program on Trump issue while punctuating its “reporting” with myriad commercials every 3-5 minutes or so) and CNBC gave her an opportunity to express her critique which, I am sure, is actually shared by a great number of American citizens, despite Forbes writer’s description of her expected reform of financial services as “radical.” I have been wondering why any of the executives involved in the unabashedly unethical financial practices that led to the nation’s financial crisis 8 years ago were never prosecuted. In such a circumstance many people reasonably come to suspect the collusion between politicians and the financial sector for the lack of prosecution of flagrant wrongdoings.
It is fairly easy to understand why a “seasoned” politician like Hillary Clinton lost support among the young voters. I wish Hillary had chosen Elizabeth Warren or Bernie Sanders as the running mate for her presidential campaign. With the unfortunate absence of either of them beside her, the only way for Hilary to regain the support of young or disillusioned voters is to promise that she will send some of the executives to jail.