Elizabeth Warren Introduces Second Report of the Congressional Oversight Panel

[AudioForAnarchists]

If you follow American history over the last 30 odd years it goes: fucked by Reagan, fucked by Bush, fucked by Clinton, fucked by Bush, fucked by Obama... You guys can't get a break.

[averageworkinggal]

The government has to force the banks to unload the toxic assets to restore capital flows through the banks.

The banks face insolvency and failure by doing that.

The banks facing insolvency had better act and do a good bank/bad bank split to save some of their equity in the good bank.

The govt. can't restore capital flow by propping up zombie banks as the coming wave of defaults continue.

It's triage time similar to what the Scandanavians did.

[averageworkinggal]

Treasury can't inject enough capital into banks facing future losses on their asset portfolios due ot the coming second wave of defaults from 2009-2011.

The toxic assets have to be isolated in order for the capital to flow again through the banks.

Only a Good Bank/Bad Bank split can split off the toxic assets to the Bad Bank entity and free up the Good Bank entity to resume lending.

The Bad Bank will inevitably fail and the govt. takes it over and the toxic assets.

[averageworkinggal]

This might be the solution: Good Bank/Bad Bank split.

That's what Citibank is doing.

The bank splits in two and puts all the toxic assets in the bad bank.

The good bank survives and can resume lending abd capital flow resumes in the private sector.

The bad bank fails and the govt. assumes ownership of the bank and the toxic assets for the FDIC costs.

That's one way of 'pricing' the toxic assets quickly.

[bertly71]

Obama will have the next stimulus package to dole out when he is sworn in. It will also dissappear and we will be no better off, only more in debt. These politicians from both parties, that voted for these bailouts, need to be thrown out in the next election.

[PsyogiBottoms]

I think the majority of informed Americans realize that the treasury is stealing as much of the tax payer's money as they can for their co-conspirators in the banking cartel of the World Banks. Extorting as much actual value as possible before allowing the Nation of America to collapse and secure their own profits in foreign currencies and investments - leaving the USA to fail and be marginalized into the NAU and a new currency. We don't expect any accountability from Bush's Crony network SOL.

[wjksea]

@PsyogiBottoms Oh no, it's medicare, medicaid and social security, not the private monetary system, the financials and Wall Street.

[mickatmidnight]

Well we can only hope that with the new administration we'll finally get some answers and real action on this thing.

[quinn2469]

So you asked and they gave you the finger. No what? Just keep asking and keep getting the finger? Is COP a toothless tiger? What consequences does Treasury face if they keep stonewalling? If there are no consequences for Treasury not answering then COP is just a patronizing joke.

If my mother asked a question and I acted with any kind of petulance, I'd get a belt across my ass. If Treasury is going to ignore COP's question than break out some sort of belt and smack them across the ass.

[ejmarkow]

The $250 billion TARP money which has been distributed to institutions by the Treasury should be accounted for using Generally Accepted Accounting Principles. The Treasury should have a public web site on the internet to show the American public exactly how they are using the money via financial statements and detailed supporting schedules. Where and who are the accountants working for the Treasury that are responsible for the accountability and financial statements regarding TARP?