The following video was on the Friday MSNBC “Morning Joe” program. It features the Chair of the Congressional Oversight Panel, Elizabeth Warren. This group is supposed to monitor the bank bailout. Warren is a Harvard Law professor that specializes in bankruptcy and contract law. Something that came out in the interview: U.S. taxpayers are on the hook for more than 4 trillion in guarantees for financial assets! This little fact is just glossed over in the interview!! I cannot believe how candid and critical Warren was on the bailout of the big banks. The country should have never been put in this ”give us money or we will have systemic failure” situation in the first place. The heads of the big banks made stupid greedy decisions that would have caused them all to go bankrupt if it were not for the government bailouts! Keep in mind, not a one of these banking chiefs got fired. Watch the video below for a very good and candid discussion.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.