Sunday, July 5, 2015

What bugs Elizabeth Warren about the bailout

[W]hat really ate away at me was that we were never able to get the Treasury Department or the White House to do something meaningful about foreclosures. The president chose his team, and when there was only so much time and so much money to go around, the president's team chose Wall Street. America had the biggest bailout fund in history, and the Goliaths of banking gobbled it up. Meanwhile, millions of people lost their homes, and even now, years after the crash, millions more are scrambling to pay down underwater mortgages. 
Elizabeth Warren, A Fighting Chance (New York: Metropolitan Books, 2014), ch. 3

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