Benzinga's Political Round Up (BAC, C, FXY)

Elizabeth Warren will start a new

, as President Obama said that financial "tricks and traps" was over. This bears watching for major banks, such as Citigroup

, and Bank of America

.

will go to trial for failing to disclose Countrywide's

mortgage portfolio, which ultimately brought the business to its knees. Regulators state that Mozilo made millions by dumping Countrywide stock before the truth finally emerged. The Bank of Japan is

to do more for its ailing economy, perhaps weakening the yen further. If the yen weakens, shares of CurrencyShares Japanese Yen Trust

would lose value as it tracks the yen/dollar ratio.