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2012: What's the 'real' truth?

The Huffington Post 
by Luke Johnson
Posted: 02/15/2013 12:11 pm EST
Updated: 02/15/2013 2:09 pm EST

Sen. Elizabeth Warren’s (D-Mass.) meeting with bank regulators Thursday left bankers reeling, after the politician questioned why regulators had not prosecuted a bank since the financial crisis.

At one point, Warren asked why big banks’ book value was lower, when most corporations trade above book value, saying there could be only two reasons for it.

“One would be because nobody believes that the banks’ books are honest. Second, would be that nobody believes that the banks are really manageable. That is, if they are too complex either for their own institutions to manage them or for the regulators to manage them,” she said.

That set off angry responses to Politico’s Morning Money. “While Senator Warren had every right to ask pointed questions at today’s Senate Banking Committee hearing, her claim that ‘nobody believes’ that…

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