Head of TARP Oversight: “Either we fix this problem going forward or the game really is over”

by | Jan 27, 2010 | Headline News | 13 comments

Do you LOVE America?


    One of our favorite consumer advocates, Elizabeth Warren, joins Jon Stewart on The Daily Show January 26, 2010. Mrs. Warren, who appeared in the documentary Maxed Out and is currently the Chair of the Congressional Oversight Panel for TARP, discusses the seriousness of the current economic crisis, the steps that need to be taken to put America on the right track, and the arrogance and dislocation of the financial industry from mainstream America.

    “It is simple. This is America’s middle class. We’ve hacked at it, and chipped at it, and pulled on it for thirty years now. And now there’s no more to do. Either we fix this problem going forward or the game really is over.”

    Mrs. Warren is one of the few people in America that we’d trust with representing the people because she actually cares about the debilitating effects of economic policies on the middle and working class in this country.

    Hat tip Tom of the North

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      1. i don’t trust anyone that says God bless Barney Frank….

      2. Nonsense.  More Keynsian BS.  We need more freedom, not less, at all levels.

      3. Yep, more progressive nonsense.  I am surprised it is being presented as “good” on this website.

      4. It’s not that I necessarily support the solutions… Warren is a Harvard Law professor, so that probably gives you an idea of her politics… It’s that she is completely honest about where we’re headed if something is not done and has been pretty honest, at least compared to other appointees, thus far in the process. Of course, she, like the rest of what we get out of the administration, Congress, Treasury, and the Fed, could very well be covering up much more than she is sharing.

        Overall, I still like the lady… Maybe I’ve been played… but she seems trustworthy enough, I suppose.

      5. Hi kids,

        I consider Dr . Warren’s remark on Barney Frank as merely a reflecton that he has advanced some banking reform in the House. Period. I read nothing else into it. However it doesn’t matter if there is anything else to it. The fact remains that  here is a credible voice speaking in a prominent forum and expressing what most of us feel: the Country is at the brink of ruin. To reject that message due solely to other differences of opinion strikes me as not much different from the garbage spewed by those that brought us to the brink of disaster.

        No offense meant to any of the good people here but it’s Big Picture time folks. Warren’s message is simple: Commercial interests have captured our Legislative process and are gutting the Country like a fish. If we fail in regaining control, our Nation will fail. 

        I know some have argued that the sooner we ‘fail’, the sooner we can get things ‘back on the right track’. I for one do not wish to see that process unfold during my lifetime, nor my childrens’, nor my grandchildrens’.  Let’s start work to turn it around now. It could take a decade to regain some normalcy as it is. Let’s stop the bleeding first. Worry about nuance later. Warren’s unvarnished truth tells me she’s one of the good guys.

        I still think we should make selection for Congress a lottery process….

        – TOTN

      6. As I’ve said before, I’m sure there are a lot of substantive issues on which I disagree with Warren…but like Mac, I think she actually cares about the people – she’s not just putting on a dog and pony show.  In my mind, that puts her near the top of the food chain in D.C.

        One thing she did not mention HERE (maybe elsewhere) is the Fed’s part in this.  They at least played a PART in making this go BOOM.

      7. warren’s true status in our accelerating maelstrom is unclear to me. occasionly she pops out of the  foam uttering  some naked truisms -then disappears until later.


      8. If she came out BLAMING Barney Frank, Chris Dodd, Pelosi, Reid, Biden , Obama, Bernanke, Geithner, Paulson, Clinton, Bush, ALL of them, and their poilicies, THEN I would believe her sincerity and trust that she is NOT just another big government boondoggler.  She seems to just  blame big business when it was politicians being bought off by big business by either pork projects for their states, spouses of CEO.s in congress, whatever. The whole system right now is corrupt and I trust NO ONE who thinks that government is the answer for any of it, no matter how much the “feel” for the common guy.

      9. You know what really gets me is these progressive do-gooders want to lay all the blame on the big evil corporations and financier’s (and they do deserve blame but its in their nature to try to maximize profit) but forget that most of us were also to blame.  People LET the wolves swindle them.  All the hand holding, coddling and Helicopter parenting that is the core of progressive policy is the real problem here.  If people were more self sufficient, relied less on the government to protect them, they would use their brains and think for themselves more and wouldn’t have gotten so burned by ARMS, etc.   We should know by now you can’t regulate protection from lifes risks (you just create more risks) like they want to but you can definitely make people wiser to the risks and cushion  themselves from the risks when they eventually happen.  GET THE HELL OUT OF THE WAY, and people will go back to having commonsense, eventually.  They will have to or perish, just like the old days.

        It is paradoxical that a group like the progressives that is keen on eugenics whats to protect the flock from societal risks  yet at the same time whats to cull it with planned parenthood, sterilents in the drinking water, etc.  They really are a sick lot.

      10. Sorry, some gramatical errors in that last post, I hit submit before checking.

      11. Willy Wonka – you speak of these “progressives” going back to having common sense. When will you get some? Only if she is biting YOUR party line will you believe her? If she presents any alternative view to the one you currently hold, it is wrong? Sorry, that sounds like hateful twit talk to me.

        @ Slavo- wow, you cave easy. If anyone disagrees with you, do you always go into self-doubt mode like you did in your comment? Put on your big boy pants and stick with what you actually believe, not what you feel your readers want to hear.

        Aw, forget it. You all are so stuck in the us vs. them school of though, you can’t even see that this country lost its way while chasing the mighty dollar. Screw the middle class, right?

      12. I suppose your perspective about my comment could be that I have doubts, though I am not certain where you disagree with me specifically.

        While I may be flexible in my interpretations of events and ideas, it does not necessarily mean my belief system has been compromised. My musings, thoughts and ideas might be best explained as impressions of the moment.

        What I am really trying to understand, though, is how on the one hand you can suggest that Willie’s inflexibility with regards to his stance on progressives and having certain political leanings makes him rigidly stuck in one mode of thinking, while on the other hand you criticize what you perceive to be a change in my view point.

        So, should we be changing our minds or not?

      13. robinwhi – of course it is us vs them, what planet are you from?

        and lay off Slavo, he does a brilliant job with this site and definitely doesn’t need a gainsayer like you counseling him.

        as for the readers here not seeing how this country lost its way… you obviously don’t visit this site often, go back to the huffington post where you belong.

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