When you get on the wrong side of Elizabeth Warren, the strength of her interrogations can be downright intimidating. Leonard Chanin learned this fact when Republicans presented the man as a key witness for why banks should not have regulations placed on them concerning mortgages and credit card lending.
Chanin, who was a key player in the 2008 recession, was clearly out of his league when Warren pressed to know why, of all people, she should trust his judgement.
“So when you talk now about how certain regulations are too costly or too difficult to comply with, you sound a lot like you did before the 2008 crisis when you failed to act. So my question is, given your track record at the Fed, why should anyone take you seriously now?”