Wall Street Has Won: Elizabeth Warren 'Speechless' About Super Galactic Bonuses

Video:  TARP COP Dr. Elizabeth Warren with Aaron Task

A short clip that's been on the list for a few weeks.  Hasn't lost any relevance since absolutely nothing has changed.  The guilty continue to pillage unapologetically, as there is no resolve for justice (only cover-up) within Deficit Banks Obama's Casa Blanca.

----------

From Tech Ticker

Elizabeth Warren, chair of the Congressional Oversight Panel, is the rare public official who doesn't mince words.  But Warren admits to being "speechless" at reports of record bonuses on Wall Street.

• "I do not understand how financial institutions could think they could take taxpayer money and turn around and act like it's business as usual," Warren says. "I don't understand how they can't see that the world has changed in a fundamental way - it's not business as usual. All I can say right now is they seem to be winning this argument."

• "It is not the case people go to bed wondering if there will be an economy in the morning," she quips, but "we still have lot of serious problems."

Comparing the situation today vs. a year ago, Warren observes:

• Even Too Bigger to Fail: A year ago the big concern was systemic risk and how to deal with 'too big to fail' firms, she recalls. Now "the big are bigger, we wiped out a lot of small folks and there's more concentration" in the banking system.

• Still Toxic: TARP was created explicitly to remove toxic assets from bank balance sheets. "They're still there by and large."

• Stress Test Failure: Unemployment has "blown through" the worst-case scenario in the stress test from February, Warren notes. But "we haven't repeated the stress test, or revealed any more information about what's going on inside these financial institutions."

In sum, "all the things going on [a year ago] that were serious, serious problems for the financial institutions seem to me are still serious, serious problems," she says.

Finally, Warren pulls no punches when it comes to her criticism of former Treasury Secretary Hank Paulson for his failure to put any restrictions on or monitoring of the initial TARP funds, and for using the money for something other than "toxic asset relief," as originally intended.

• "I have a real problem when we describe to taxpayers their money will be taken and used one way and in fact it's used another way," she declares.

-----------

Comments

[mark mchugh]

I know everybody here is sick of me saying this, but I love this woman.

[RecoverylessRecovery]

I love her too. Unfortunately despite her fancy-schmancy title & position she seems to be as POWERLESS as you, me, DB and the roughly other 300 million of us fools.

[Sonic Ninja Kitty]

Me too. She's my idol. Seriously.

But I do wonder when she's going to start getting all bada** on those guys. It is time, Elizabeth. IT IS TIME!!!!!!

[DailyBail]

she's a superstar...fought tim with kindness and kicked his ass all year...

[Oberron4life]

It's time when we make it time. Her club grows proportionately as each of us adds our support. Let's let her take a swing or two!

[Ken]

And if Greenspan, Summers and Rubin hadn’t shut Brooksley Born down, derivatives would have been regulated just like corn futures, so the collateral damage of the pop would have been much less.

Those were their mistakes – that’s what people should be angry about and throwing rotten tomatoes at them for. And those are the things that need to be fixed first, because those were the things that broke.

[Ken]

WASHINGTON (MarketWatch) -- The massive stock-market rally in the past nine months is mostly due to secret government buying of stock-index futures, a respected stock-market analyst said Tuesday.

Charles Biderman, chief executive of TrimTabs Investment Research, is the latest and most credible person to charge that the Federal Reserve and the Treasury (in league with top Wall Street firms) is rigging the stock market on a daily basis.
http://www.marketwatch.com/story/time-for-fed-to-disprove-ppt-conspiracy-theory-2010-01-05

[DailyBail]

It's time when we make it time. Her club grows proportionately as each of us adds our support. Let's let her take a swing or two!

-------------

she'll be running the new CFPA if it gets enacted...

[Ken]

http://www.forlibertymovie.com/catalog/index.php?main_page=product_info&cPath=7&products_id=19

s the 2007-08 presidential campaign cycle offered up the usual slate of Washington insiders, Ron Paul, an obscure Congressman from Texas brought an alternative voice that challenged the political establishment.

Advocating a philosophy of sound money, a non-interventionist foreign policy, strict Constitutionalism, and individual liberty, Dr. Paul inspired a unique grassroots movement unmatched in American history - the repercussions of which continue to reverberate today and into the future of the American psyche.

[Ken]

Dear Fellow Americans

I have been screaming harsh reality facts at :

Financial Committee/Banking Committee/Oversight web sites : TODAY I am be blocked on all web sites. No Washington Criminal ruler has replied to my rants but instead finally blocked

Chris Dodd Criminal is barking scam speech on TV.

[Ken]

Produced by Alexandra Milchan, Martin Scorsese, Leonardo DiCaprio, «The Wolf of Wall Street» is a 2010 Crime/Drama film directed by Martin Scorsese, starring Leonardo DiCaprio and written by Jordan Belfort, Terence Winter.
http://www.youtube.com/watch?v=_SrlWsGITB0

[Ken]

Inside the Crisis

WORST ECONOMIC TEAM SURROUNDING OBAMA (CHICAGO MOB SHILL)

http://www.newyorker.com/reporting/2009/10/12/091012fa_fact_lizza

The advisers who meet with the President daily to discuss the economy: Peter Orszag, Christina Romer, Larry Summers, Timothy Geithner, and Jared Bernstein. Photograph by Martin Schoeller.

[Ken]

The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.

- Matt Tabbi, “Inside the Great American Bubble Machine”

http://solari.com/blog/?p=5590

[Ken]

Charles Biderman from TrimTabs calls it magic
Where's the money coming from?

* "While the absolute percentage gain off the recent lows has been more powerful than anything since the Depression era, there is no denying that historical rallies in the equity market have recouped a greater percentage of the declines from the highs," Greenhaus wrote in a note.
http://www.benzinga.com/77656/charles-biderman-of-trimtabs-claims-us-government-supporting-stock-market

[DailyBail]

ken wrote ...

I have been screaming harsh reality facts at :

Financial Committee/Banking Committee/Oversight web sites : TODAY I am be blocked on all web sites. No Washington Criminal ruler has replied to my rants but instead finally blocked

------------------

i hope they also aren't following your movements and listening to your phone calls...from what i can tell, you've left many, many threatening rants all over government websites...