Sen. Elizabeth Warren demands transparency when feds settle claims against big banks [View all]

http://www.rawstory.com/rs/2014/01/08/sen-elizabeth-warren-demands-transparency-when-feds-settle-claims-against-big-banks/



Sen. Elizabeth Warren demands transparency when feds settle claims against big banks
By Travis Gettys
Wednesday, January 8, 2014 14:08 EST

A new bill introduced by Sen. Elizabeth Warren (D-Massachusetts) would shine a light on corporate wrongdoing by allowing the public greater access to terms of settlements they reach with the government.

“When government agencies reach settlements with companies that break the law, they should disclose the terms of those deals to the public,” Warren said.

She said federal agencies should disclose the key terms and conditions of agreements reached with corporations at the close of investigations, and she also argued that tax deductions and other credits built into the settlements should be publicly disclosed.

For example, when the U.S. Federal Housing Finance Agency settled its lawsuit in May against Citigroup over false claims made to Fannie Mae and Freddie Mac, terms of the deal were not disclosed.



unhappycamper comment: I read (this week I think) that the Stature of Limitations for financial fraud is only five years and Eric Holder has done shit to prosecute the Big Boys.