MSNBC Countdown w/ KEITH OLBERMANN - 8 December 2009. Keith intervies TARP Funds overseer Harvard Professor Elizabeth Warren on the lastes news on TARP and how we might spend the money to help American middle class, small businesses community banks, instead of just mega-banks.
OLBERMANN: "Has it helped, demonstrably helped, average Americans getting an average loan?"
WARREN: "Well, that's where the real problem is, and that is that it did the first part, it stopped us from the crash, but this was not a system that, uh, for which the money was supposed to go to just the big financial institutions so that they could kind of stay afloat. It was really put into these big financial institutions so that it would help the entire economy - so that it would help us deal with foreclosures; so that it would restart credit so that small businesses wouldn't collapse, and in turn, so that employment would stay up because people would be working at those small businesses; to clean up the balance sheets for the banks.
Those things, they just haven't happened."
- snip -
"Time to reassess the rest of those programs. We don't want to be in a situation where we get really good at shoveling hundreds of billions of dollars into large banks, that we can do that on a seconds notice, and not be able to help stabilize the economy for the American family."
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