"We Have A Real Problem Coming..." Elizabeth Warren- head of the Congressional Oversight Panel

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* The banks are still insolvent.

* That little tweak to mark-to-market accounting a couple of months ago has allowed us all to plunge into deep denial.

* Now that the banks are allowed to lie about what their toxic assets are worth, they'll never sell them (because if they did they would have to write them down).

* The smaller banks are undercapitalized and will have to raise another $12-$14 billion. And so on...

Those are the basic messages from Elizabeth Warren, head of the Congressional Oversight Panel. Warren's 10 minutes on Morning Joe (via Zero Hedge) are worth watching.

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[elephantinpajamas]

joe completely missed the point! treasury's whole agenda was to keep the economy yoked to the dinosaurs and that's why we're not out of it yet. he completely missed it

[Growby10]

elephant- prove to show you...it's just a show to them. he either doesn't understand the severity of the situation, doesn't care or just plain dumb.

shows that intelligence is not a prerequisite for this type of work.

thx and please sub!

[fal2grace]

Elizabeth is one of the few people in govt that's a straight talker.

[Growby10]

fal2grace- YES, i agree. BUT, what has she changed? no matter how much sense she makes...who's listening? Not the gov. and not most of the public.

thanks for you comments. please sub

[ngonea]

Accountants are terrorists, why doesn't Homeland Security go pick them up?

A starving women steals a carton of milk from the grocery strore to feed her baby, she gets instant slammer

[cdoftx]

@fal2grace She's not a straight talker. If she was a straight talker she would have said this cost each American, man, woman, and child $9000.

[LogicalFlawDetector]

This cunt is one worthless piece of shit.

[marilynr46]

Skip the US Senate, Elizabeth, and run for President! Please!

[Seasass]

@MrCraig1930 I'm glad you commented--we need your perspective! To me, it's no coincidence that Glass-Steagall was repealed roughly "three score and ten" after the crash of '29. As the people who remembered the hard lessons of that disaster started to pass into the great beyond, we were put at the mercy of short-term thinkers. I daresay the millenials and their progeny will now give the country it's booster shot of collective memory about what NOT to do.

[singledad1234]

END THE FED END THE FRAUD end the central banks

right out of the ten planks of the communist manifesto

when will americans wake up

ITS THE DAM BANKSTER GANGSTERS wake UP

ronpaul2012 com

[centurion180ad]

Better keep a close eye on Ms. Warren, she is a big part of the Criminal Class, an Ivy League trained British Accredited Registry attorney, the sons-of-bitches that administer the foreign treason debt-fraud for the mass murdering Debt Syndicate.

Her so-called fake profession is the biggest part of the scourge that is destroying America. She isn’t going to fix anything, she is going to feather her own bed, blame the victims, and create a new layer of attorney blood sucking against America.

[centurion180ad]

Cum'mon professor, you have War Power!

Stick it to these God damn bankers!

[pjubagoni]

so what happened? i live in europe but since i ve seen that obama i s taking bushes crap normally i ve seen a problem

did they say where the money went?