Home > Fande = Fact & Evidence, The Economy > Wall Street paying themselves with Taxpayers’ money (instead of lending like they were supposed to)

Wall Street paying themselves with Taxpayers’ money (instead of lending like they were supposed to)

http://finance.yahoo.com/tech-ticker/article/355739/Wall-St.-Is-Winning-Elizabeth-Warren-%22Speechless%22-About-Record-Bonuses?tickers=XLF,FAS,FAZ,JPM,GS,BAC,C&sec=topStories&pos=8&asset=&ccode=

Wall St. Is Winning: Elizabeth Warren “Speechless” About Record Bonuses

EXCERPTS:

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….

“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”….

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.

So in the end, Warren did find her voice and spoke quite candidly, a very rare trait among public officials.

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