Elizabeth Warren Introduces COP's August Report

In this video, Chairwoman Elizabeth Warren of the TARP Congressional Oversight Panel introduces the COP August Report: "The Continued Risk of Troubled Assets." The full report is available online at http://cop.senate.gov/reports/library/report-081109-cop.cfm.

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News & Politics

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• COP081109

[UnkleKowboy]

Elizabeth Warren for President!!!!

[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!!!

[cres727]

I would back her 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!

[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?

[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.