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Elizabeth Warren Rip Roaring on CNBC about TARP
Must watch clip of Elizabeth Warren ranting about the Fed and the credit card industry, at the same time bigging up Mr. Barofsky. As usual, Kudlow is throwing his ore into the matter and Melissa Francis is trying to look knowlegeable.
Fellow Zero Hedgers, I would highly suggest you check out the
following links before tuning into the TARP hearings at 2pm ET today:
- Treasury Letter to SIGTARP on Transparency, Other Issues (SIGTARP)
- Inspector General TARP Report (FOX Business)
- US Treasury Criticized Sharply on Watchdog Report (WSJ)
»
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The process of Home Flour Milling MachineYeah, blame on stupid consumers that we have this crisis on credit card and mortgages. I'm sure most of them wouldn't have signed on if terms were clearly disclosed upfront.
I agree that this is not rip roaring, except for the fact it was on CNBC, from that perspective, Warren is the most articulate, knowledgeable beacon of financial sense in the US (other than zero hedge of course)
Her presentation stands out because it is an adult talking, making reasonable, moderate, knowledgeable proposals that she sincerely believes are in the best interest of US consumer. Not something you see on CNBC very often.
I just want to say Elizabeth Warren is one of the good people out there with integrity and not just a shameless profiteer like so many others in government today. I hope she becomes the leader of the consumer protection agency under discussion.
Everything was going well for me watching Warren speak until Kudlow opens his trap (it's the whole 350 lb woman thing again for me). The divergence of Warren's intelligence and the cheerleaders on cncbc lack of it is astounding. The shill contentiousness of the hosts questions is remarkable - freakin' idiots they don't get it and never will.
Consumers AND banks AND the Fed AND the US Gov't (hello? can you say SIV, CDO, CDS, etc, etc) need to be responsible. Consumers and private business are certainly paying the price but is the US financial system (FED/US Treasury)?? Nope! They believe (wrongly) that we have given them the liberty to spend our money like drunken fools -the day of reckoning awaits.
Kudlow: "we've gotta jump" PLEASE do!
Remember heroes America? Someone who stands up for what is right? Someone who isn't looking for personal gain? Someone who faces amazing odds of success but tries anyway?
Elizabeth Warren is a hero and I offer her my respect and gratitude.
ms. warren: "i actually disagree strongly on that..."
translation: "you're an idiot and you don't know what you're talking about."
seems like mf chimed in just for the sake of chiming in. yawn...
and krudblow just chimes in for the sake of blowing
more krud....
speaking of krudblow he was blowing over at nro
during the election flatulating over the rate cuts
from bernanke whose virtues were manifest by
the 2000 usd/month reduction in krudblow's mortgage
payments.....can you imagine someone's mortgage
payments dropping by that much due to interest
rate cuts?? i would love to see his home.....
I don't think this qualifies as "rip roaring".
Every time Krudblow opens his mouth it feels like a punch to the face.
isn't that the truth, like someone hit me in the face with a bag of mustard seeds
Ugh, why are CNBC videos depreciating so fast from 0-Hedge?
Clear, consise and full disclosure has never been a prominent feature of fractional banking, private central banks or the institutions that rely upon this model. Fact of life. Therefore any attempt to establish clarity cannot by definition exist within a system fouunded upon the fractional banking model.
Yes, fractional banking and fiat money. Nobody understands what those terms even mean!
" Banks are out there trying to make money just like every one else" ..." This whole crisis was caused by people buying things they couldn't afford....Not because they were tricked by banks"
That pretty well sums it up. Talking heads that completely understand the entire cause of the crisis. The rest of us ignoramuses are merely prey to comsume as they wish. IMO. CNBC is nothing more than a shill for Wall Street. I'm now retired and living off my savings. I now have the time to devote to managing my nest egg without the distraction (?) of a full-time job.
During my entire 40 year career I was left to the parasites, the money changers and their ilk to make money off the fruits of my labor. Network and cable Television is dead. Long live the internet.
Yeah, blame on stupid consumers that we have this crisis on credit card and mortgages. I'm sure most of them wouldn't have signed on if terms were clearly disclosed upfront.
although i heartily agree that a 31 page credit
agreement is like reading a congressional budget -
no one does it - i would not call this clip
must watch....i would have spent more time
discussing what part of barofsky's 24 trillion usd
number is realistic....although the whole number
is enraging there should be discussion about
the portion at the 95% confidence interval so to
speak.