Elizabeth Warren: Financial Rules 'Literally Don't Work Anymore,' Regulations Should Be 'Clear And Pain

The Huffington Post - Elizabeth Warren, a professor at Harvard Law School who has more recently assumed the role of chairwoman of the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP), sat down with The New Yorker's James Surowiecki recently. The topic was Warren's brainchild, the Consumer Financial Protection Agency Act, which is currently being debated in Congress.

According to Warren, financial institutions need a regulator regime that is both "clear and painful." Read more.