Elizabeth Warren Says Wall Street ‘Undermining’ Russia Sanctions

Senator Elizabeth Warren, a vocal critic of Wall Street, said banks are “undermining” sanctions on Russia by snapping up the nation’s corporate bonds and suggesting clients buy assets on the cheap.

In a statement released late Friday, she called out market makers JPMorgan Chase & Co. and Goldman Sachs Group Inc. following a Bloomberg report that the two banks had been purchasing beaten-down bonds. Banks routinely scoop up debt because clients asked them to, or because they expect to find ready buyers.