Rachel Maddow - TARP Admin Liz Warren: Consumers first, please.

[democracy1st]

Run time: 05:03 https://www.youtube.com/watch?v=Eqx1FFdTeak   Posted on YouTube: July 15, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: July 15, 2009 By DU Member: democracy1st Views on DU: 676

 
Warren makes a strong case that the focus of financial industry bailouts should be to protect consumers first.
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[Political Heretic]

1. She was great!

[earcandle]

2. Wait! Bail outs are not listed on the Income statement as profit. It is not income.

But it IS listed on the Balance Sheet as either a liability
(to be repaid) or as Equity (investor activity) 
(debit cash/Credit liability or equity)

Let us be sure we understand these distinctions. 

P&L lasts only one year, BS lasts the duration of the
entity.