When various forms of this creative banking triggered the economic crisis, the banks went to Washington for a handout, and all the while top executives kept their jobs and retained their bonuses even though the tax dollars that supported the bailout came largely from the middle class, from people already working hard to make ends meet. The beneficiaries of those tax dollars are now lobbying Congress to preserve the rules that had let those huge banks feast off the middle class.
Elizabeth Warren: “When various forms of this creative banking triggered the economic crisis, the banks went to Washington for a handout…”
On the recordDecember 3, 2009
Source
congress.govEditor's note · Context
Warren criticizes banks for profiting from bailouts funded by the middle class.
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