“We Have A Real Problem Coming…” Elizabeth Warren- head of the Congressional Oversight Panel


Add me as a friend on Facebook! www.facebook.com Get DAILY growby10 Updates on Twitter! twitter.com * The banks are still insolvent. * That little tweak to mark-to-market accounting a couple of months ago has allowed us all to plunge into deep denial. * Now that the banks are allowed to lie about what their toxic assets are worth, they'll never sell them (because if they did they would have to write them down). * The smaller banks are undercapitalized and will have to raise another $12-$14 billion. And so on... Those are the basic messages from Elizabeth Warren, head of the Congressional Oversight Panel. Warren's 10 minutes on Morning Joe (via Zero Hedge) are worth watching.

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