Well, THAT felt good!

[Iwillnevergiveup]

Many of us have watched and marveled at the video of Elizabeth Warren grilling some of the financial sector enablers last week. And most of us don't live in the state that had the good sense to elect her to the Senate in the first place.

I (and probably many of you) received a great e-mail from her this morning, and it got me to thinking. We have talked amongst ourselves about what a great asset she is and will be, but it occurred to me Senator Warren is the one we also might communicate with. So I went to the link below, sent her a little money and told her even though I'm not a resident of Massachusetts, as an average middle class person trying to survive and knock out a living, I considered myself one of her constituents. And I thanked her. And THAT felt good.

http://www.warren.senate.gov/contact.cfm

[Iwillnevergiveup]

1. Here's her letter

Attorney General Eric Holder indicated in testimony before the U.S. Senate that some Wall Street banks have gotten so big that they are now above the law.

He actually said earlier this week:

I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy.

This is wrong -- just plain wrong. We are a country that believes in equal justice under the law -- not special deals for the big guys. And that's not all the special deals that the big banks get.

According to recent calculations by Bloomberg, the top ten biggest banks receive an $83 billion subsidy every year in the form of lower borrowing costs -- something not available to your community bank or credit union. The markets think that, if things get tough, the government will be there to bail out the big banks again but not the little guys.

To put things in perspective -- that $83 billion subsidy is about the same amount of money being fought over in the sequestration.

So why are we still debating this issue at all? Isn't it obvious that the "too big to fail" problem still exists and is bad for small banks? Bad for taxpayers? Bad for our economy? Bad for justice?

Here's one theory that worries me: maybe people believe that the banks have in fact become too big to shrink. They have started to say that we can't cut these banks down to size.

I'm not one of them, and neither are colleagues of mine like Sen. Sherrod Brown who have been fighting hard on this issue. We know we can take on the big banks and their army of lobbyists and win because we've done it before.

When banks are too big to fail, too big to jail, too big for trial, too big to manage, too big to regulate, too big to shrink, and too big to reform... they are just too big.

We're just getting started here.

Thank you for being a part of this,

Elizabeth

[SamKnause]

2. Elizabeth

Nice letter.

Thanks for sharing.

[johnnyreb]

3. Thank you Senator Warren!!

And thank you Massachussets voters!!!!!

We're just getting started here.

Swoon!!!

http://www.warren.senate.gov

[xtraxritical]

4. Send Bernie Sanders a donation, he's been carrying the water alot longer than E. Warren.

[Iwillnevergiveup]

5. Yes, indeed

Besides all his hard work, Bernie puts out a fantastic newsletter complete with videos and a poll or two. Here's his site:

http://www.sanders.senate.gov/

[xtraxritical]

6. Thanks indeed, I already subscribe.

[SCVDem]

7. If the banks are too big and important to fail,

or even prosecute, then I say that our Government is also too big to fail and is above shutting down.

Equal treatment would apply to citizens of America as well as the misguided notion that too many would be hurt by closing a bank.

As Warren stated. a cocaine user goes to jail and a dealer likely for life. Yet the banks launder billions of drug dollars and get off with a small fine and sleep in their own bed that night.

This isn't right!

[h2ebits]

8. The Sherman Anti-Trust Act

Needs to be brought out and we need to force the banks to break up. I believe that they were each required to submit a plan to Bernanke on how they could do this. NOW we need to force the issue.