Elizabeth Warren Introduces COP's August Report

[cres727]

I would back her for president

[UnkleKowboy]

Elizabeth Warren for President!!!!

[cduval1234]

Great explanation.

[bammbamm12]

Explained well, but who's paying the property taxes on these foreclosed homes? If the banks are, then it will drain them eventually. If they're not, then when do the counties start to seize and auction? (and at that point, the fraudulent accounting that has been allowed will merely have served to delay the inevitable)

[43837388]

buying food for a dead horse and expect it to eat.

makes perfect sense to me

[Sheila6325]

What she is saying is..... The huge, and fast money bailout in beginning of all of this, was to just create a stall in the total fall of the banks. What is coming up is...

the Full impact on the banks and the economy.......... which is TOTAL FAILURE of all of it.

They will continue to try to do the two step, until eventually the Chips have no other choice but to FALL.

Elizabeth Warren is great at explaining it, The Real question for us is, what will WE do about it?

Refuse to Pay!

[dirtynas]

All the banks in the US are more powerful than any weapon. We are like the city of Troy and the bankers have given us the wooden present of failed investments. Spread the debt out amongst the innocent yet pay yourself handsomely... I don't think it's possible to view this without getting upset.

When you screw up an investment, you pay!!!

[ChulaKirby]

What I am about to say isn't a reflection of Chairwoman Elizabeth Warren. I think she is a fine honest American. Having said this, PIPP will result in over payment for toxic assets. The buyers will take a small loss but the taxpayer a HUGE loss. This will drive up the deficit and outstandind US debt and break the Americans even more esp. once the dollar becomes more and more at risk of falling.

[ChulaKirby]

The banks MUST be prevented from either directly or indirectly from being active buyers which would result in overpayment for the junk. That is VERY IMMORAL AND WOULD BE THEFT.

[updownleftrightinout]

It was homeowners first but now it's commercial real estates turn. The shit will hit the fan again but I am sure that the public is tired of money being handed out. Many businesses will go under and so will many banks.

I predict no bill will pass through Congress. It would be political suicide for all those politicians to vote to do so

Stress tests can be performed but will make no difference to a Congress that will be beaten down by a disconted public. Both Dems and Repubs are against it

[daveashe]

Time to face the music - the banks are bankrupt and the economy is going to collapse, i can see no real way out of this - if you get a hangover and keep on drinking to feel better how long can you continue to do this until you face death?

[siwi1982]

After watching some town hall meetings it is a delight to listen to an intelligent, calm and well spoken women like Elizabeth Warren.

[ChulaKirby]

I agree 100%. But having said this, she is having to explain this PIPP plan which isn't her making. If banks borrow taxpayer funds to bid on each others debt it will mean over paying. Suppose they have junk worth 30 cents on the dollar. they buy it from each other and over pay for 60 cents on the dollar. They only have 7 cents of skin in the game.

[ChulaKirby]

So they bought for 100, sold at 60, lost 7, and the taxpayer is now on the hook for the difference between 53 and 30 (which it is really worth). Does this make sense?

[DavidAKZ]

I thought the market was to decide the value the value of assets. Or do you support another war to destroy assets to keep the price high

[DavidAKZ]

Dab tou stop being so naive ? The banks cause the problem with requirement for TARP in the first plaxe. I really wish you would stop being an apologist for a system that supports massive inter-generational transfer from the poor to the rich.