In this video, Chair Elizabeth Warren of a TARP Congressional Oversight Panel introduces a COP Feb report, “Commercial Real Estate Losses as well as a Risk to Financial Stability. ” The full inform is accessible online during cop. senate. gov
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Filed under: Real Estate
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Uri
Great for the big banks. The community banks are “little enough to fail”. Good riddence to that pesty competition to the big banks.
@1mealperday – I think she is just trying to avoid being overly controversial in this report since she is making it as a government official. If you watch other interviews she’s made I think you’ll see that she is not afraid to lay into the banks.
Banks will soon realize that turning down good borrowers will ultimately hurt everyone – especially them. What will the banks do with all these properties? They are in no position to manage such huge portfolios. We will soon forget about the “subprime crash” because the CRE crash is going to be the real” BIG ONE”
She sounds just like a professor delivering a lecture.
Oh, wait……. She *IS* a professor at Harvard Law.
This poem was written shortly after the federal reserve was formed in 1913 and nails it down.
Birds of Prey
Their shadow dims the sunshine of our day,
As they go lumbering across the sky,
Squawking in joy of feeling safe on high,
Beating their heavy wings of owlish gray.
They scare the singing birds of earth away
As, greed-impelled, they circle threateningly,
Watching the toilers with malignant eye,
From their exclusive haven–birds of prey.
They swoop down for the spoil in certain might,
And fasten in our bleeding flesh their claws.
They beat us to surrender weak with fright,
And tugging and tearing without let or pause,
They flap their hideous wings in grim delight,
And stuff our gory hearts into their maws.
–Claude McKay
We knew that commercial problems had to come after resi ones, but it won’t be in 2012 … someone needs to get elected in that year – so look for government bailouts and banks being willing to take haircuts – after all, they don’t want to own property.
between the commercial problems and increased taxes due to healthcare in 2014, look for the next economic slowdown / collapse in 2013 / 2014 (which is when Obama won’t be running and he’ll pass the bag to the next person)
Wow… when the government starts reporting the truth I have known for over a year now…. hold on to your collective butts, people. This is going to be wave 2 of the sub prime crisis… we are not getting out of this hole for a long, long, time.
I love this Woman. She should be the Secretary of Treasury, not that idiot
thief who didn’t even pay his income
taxes!
Thanks Elizabeth, I’m a big fan of yours. Please keep up the great work!
Re: DavidAKZ
Not a cup of coffee but perhaps the coffee shop with one coin.
Trouble for me with PM is, how can you buy a cup of coffee with a 1 oz gold coin ?
She is a very nice, moral, person. And it’s good they want to do good. But aren’t you sick and tired of doing good only AFTER people get screwed? The little guy’s best statement here is to take your money out of your bank and invest in silver or gold. If you have to tackle somone bigger than you, hit them at the ankles…. Look up the video… This June 5th made in 2008.. go and do….
All this talk is just stalling people….
Remember last out out is a rotten egg!!
The money ain’t in them banks… better get your piece of your checking account pie out now before the titanic sinks. Crash the system… then see what solution they present to us.
Nice.. really…. Now what is you patriotic duty here?
Easy take your money out. There is the solution. Don’t wory about regulation or the j*ck *ff politicians, withdraw your money. It’s yours….. f*ck em, believe me they have already f*cked everone else…
It won’t be my problem… last withraw out is a rotton egg !!!!!!
This Harvard prof thinks we should just have plain vanilla financial products. Listen to her baby talk slow talk. Very patronizing.
When is someone going to look into all this transfer of ownership of banks by the chicago thugocracy.
I agree.
I think E.Warren is well-intentioned but, bigger gov. intervention is the precise phenomenon that leads to typ. & inevitable organizational behaviour of unfettered growth.
Without absolute & fundamentally endorsed fiscal stewardship restricting size & levels, we have an interesting inevitability. This is the ballooning of gov. employees & further laws, gate-keeping, systematical growth & decreased accountability. No matter who is in power, their political leaning or intentions.
What really sucks is it doesn’t have to go there, one would think after all this time human beings would learn but I guess it’s just not in our genes.
Take care
@UU361 It’s terrifying. Yes, I agree, it may well be armageddon
You know this is headed for a global war don’t you? That’s where this is all going to end up.
Hurry up and fix the mess. Every day that it is just left to continue on is another day it gets worse. Please tell Obama that he needs to get working on the problems quickly and get the lazy Republicans to support some of the policies that will get this problem sorted out. It looks like the Republicans want America to fall in a hole so that whatever person that they put up in the next election will win, they don’t want the problems fixed yet.
I like Elizabeth Warren she is a good person.
However she is more dangerous than a Banker. Why?
Because she believes that government is good or can be good.
Government can help us it can only hurt us and they are good at it. Everything that has been done as a “benefit” for little guy has been a boondoggle.
Social Security ponzi scam, Freddie and Fannie, minimum wage just to name a few. Stop helping!
@UU361 how true. sigh
@1RoaringMonk indeed she is.
sexiest women in the world!