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Senator Warren Urges Action to End Too Big to Fail

Statement

"After the crisis, there was a lot of discussion about how Too Big to Fail distorted the marketplace, creating lower borrowing costs for the largest institutions and competitive disadvantages for smaller ones. There was talk about moral hazard and the dangers of big banks getting a free, unwritten, government-guaranteed insurance policy."
Date: Nov. 12, 2013
Location: Washington, DC
Issues: Finance and Banking

In remarks to Americans for Financial Reform and the Roosevelt Institute today, United States Senator Elizabeth Warren discussed the actions Congress needs to take to end Too Big to Fail and help prevent future financial crises.

"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 Senator Warren in her speech today. "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 we need is a system that puts an end to the boom and bust cycle. A system that recognizes we don't grow this country from the financial sector; we grow this country from the middle class."

The full text of Senator Warren's remarks as prepared for delivery is available here.

[Only available in PDF format, please see source to view document.]


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