Political Quotes

“earlier this year, Chairman Whitehouse and I began bipartisan work to investigate Credit Suisse's historical servicing of Nazi-linked accounts. Today, I would like to discuss this important bipartisan work and thank Senator Whitehouse and his staff for their assistance on this very important topic. In March of 2020, Simon Wiesenthal Center notified Credit Suisse that it found previously undisclosed information relating to the bank's Nazi ties. The bank, to its credit, initially took steps in the right direction and agreed to investigate. It even retained a research firm to conduct a forensic review. It even retained former TARP Inspector General Neil Barofsky to oversee that review as an independent ombudsman, and they also had U.S. Envoy Ira Forman as an independent adviser. But after Credit Suisse hired a new general counsel--so a new person stepped in--the bank paused its review, limited experts' access to records, and terminated Barofsky and Forman; very odd acts to take compared to the positive start of this investigation. Anyway, the bank cited performance issues for the termination. Well, the then-general counsel's predecessor never expressed those concerns, and the bank's research firm described Barofsky as professional. And I happen to know some of Barofsky's work, and he is, in fact, a professional. Barofsky drafted a report about what he observed at the bank and found, as he was contractually obligated to do.…”