by Pam Martens and Russ Martens, Wall Street on Parade:
Sparks were flying yesterday in what is typically a snooze-worthy Senate session. It felt like alien body snatchers had decided to remove the zombies and return the real U.S. Senators to their chairs on the Senate Banking Committee. Senators, right and left, asked tough, probing questions of the nation’s banking regulators, leaving many squirming in their chairs.
The session was so unusual that Senator Elizabeth Warren, a Democrat from Massachusetts, and Senator Richard Shelby, a Republican from Alabama, closed out the session in complete agreement that there is something seriously broken about the justice system in America.
Senator Warren told the hearing that in the past year, three of the nation’s largest banks — JPMorgan Chase, Citigroup and Bank of America — have admitted breaking the law and settled the claims for $35 billion. The Senator continued:
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