Elizabeth Warren Is Just Getting Warmed Up: Watch Her Grill Ben Bernanke On Too Big To Fail

Elizabeth Warren's first Senate Banking Committee Hearing was just the beginning. Her latest splash came from grilling Ben Bernanke on the de facto insurance big banks get from their "too big to fail" status.

If you liked Elizabeth Warren's first banking committee hearing, you're going to love her grilling of Ben Bernanke on the de facto insurance that big banks get do to the realities of "too big to fail." Big banks know that they are too big to fail, so that the government will have little choice but to bail them out if they do fail, so they actually factor that into their lending policy, knowing that they can take bigger risks with the ultimate backing of the world's richest country.

Elizabeth Warren quoted an IMF study that said that this was the equivalent of $83 billion in insurance. So, she asks Bernanke, shouldn't they pay for it?

Bernanke gives a few different versions of "we're working on it," which Warren doesn't accept as a complete answer. This is the sort of non-waffling leadership people hoped for when Warren was elected Senator. She's like the good version of Ted Cruz.

A lot of people have wondered aloud if Warren might run for President, and often the response is that she is more policy wonk than politician. She's definitely a policy wonk, but she manages to distill her core ideas into very understandable statements. I don't know if she'll run, and I don't know if she'll win, but I think she'd be a unique and energizing candidate.

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