Death of the Middle Class

by | Dec 14, 2009 | Headline News | 3 comments

Elizabeth Warren, Chair of the Congressional Oversight Panel that is responsible for monitoring TARP funds discusses the successes and failures of the bank bailout, TARP going forward, and what is going on with the middle class in America.

Death of the Middle Class

-One in Five are unemployed
-One in Nine Can’t Pay Credit Cards
-One in Eight on Food Stamps
-One in Eight Mortgages in Default or Foreclosure

While it may be premature to say that the middle class is effectively dead, it can be argued that the middle class is in a coma and on life support, and the prognosis is not good. With no end to the turmoil in sight the end result certainly seems as if it will be a flatline.

Elizabeth Warren is a consumer advocate who seems to have been a pretty good choice as the Chair of the Congressional Oversight committee for TARP. For an excellent documentary featuring Elizabeth Warren, we recommend readers check out Maxed Out, a thought-provoking documentary that unveils the consequences of our collective addiction to debt. Available for instant viewing at

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    1. Chris C.

      She’s one of the few I would keep, along with Ron Paul, Kucinich, and possibly Grayson. The rest can take a flying leap.

    2. Rick Blaine

      +1 on that Chris.

      For all I know, Warren is a complete moron (though that doesn’t seem to be the case), and even though I probably disagree with her on many issues, at least she actually, genuinely seems to give a damn about the people in this country and how their tax dollars are spent.

      …and she seems to have a much better grasp of what’s really going on compared to many others.

      Hell, at this point, depending on the other choices, I’d be willing to vote for her for President.

    3. admin

      I like Elizabeth Warren… She seems to me to be a Lib, but I agree with you Rick, she really does seem to care. I had never heard of her until I watched Maxed Out, and after that I sought out her interviews. She has a good head on her shoulders, and looks like she is willing to say whatever she feels, for the most part, even though I am sure she’s been told to keep certain things on the down low.

      There’s another interview with her worth watching: Expect 50% to 60% default rates on commercial real estate . I posted it back in August, but it’s still relevant. This shows that she is not your typical party line govt hack.

      Maybe I am wrong, but for now, I like Lizzie W.

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