Warren’s Congressional Oversight Report: 6 Months of TARP

April 10, 2009

Elizabeth Warren‘s most recent Congressional Oversight Report was released on April 7th.  The Report, accompanied by a video, is hefty, but contains some interesting question and answer segments between Warran and Geithner, and Warren and Bernanke.  Warren, a Harvard law professor is a specialist in contract and bankruptcy law, best known for her work as a vociferous critic of the credit card industry and a defender of the American middle class. For her February vision of what the oversight committee should be doing (that report focused on foreclosure), listen to this NPR report. This quote from that interview perhaps summarizes her attitudes:

“One of the areas that I’m really intersted in is that we are recapitalizing the banks. That means we’re putting a lot of money into those banks that apply for it.  And yet, so far as I can tell – I want to put this in the form of a question – there don’t seem to be any restrictions on any of the banking practices.  So you know, if these are banks that are raising their interest rates on their customers for no reason at all, that are engaging in lots of tricks and traps pricing […], there’s no statement that says, look, tax payer money is not meant to subsidize lousy practices that prey on American families.”

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