Sen. Elizabeth Warren garnered support on Tuesday at a Wall Street reform event in Washington D.C. to help end "too big to fail."
Warren "expressed frustration that three years after the Dodd-Frank Act expressed frustration that three years after the Dodd-Frank Act the biggest banks continue to grow, regulators keep missing their statutory deadlines and the problem of 'too big to fail' remains,'" writes American Banker's Victoria Finkle.
"We should not accept a financial system that allows the biggest banks to emerge from a crisis in record-setting shape while working Americans continue to struggle," said the Massachusetts Democrat. "And we should not accept a regulatory system that is so besieged by lobbyists for the big banks that it takes years to deliver rules and then the rules that are delivered are often watered-down and ineffective."
"What I want to know is this: how much longer should Congress wait for regulators to fix this problem?" she asked. "Another three months? Another three years? Until the next big bank comes crashing down?"
For the full piece see "Warren: 'It's Time to Act' on Too Big to Fail" (may require subscription).