Elizabeth Warren

On regulatory reform, the very rules that will prevent this crisis from happening again, that process is just starting.

Ninety-nine of these banks have failed so far, as you know, and we have more than 400 on the watch list.

There is little to inspire confidence in the balance sheets of the banks, and the health of small and mid-sized banks remains a very serious concern.

The financial sector that we talked about a year ago as too consolidated, too big to fail, is more consolidated than it was back then.

I worry not only because of where we are in this crisis, but that the factors that led us to this crisis have not yet changed.

Congress should establish a Consumer Financial Protection Agency (CFPA) to ensure the basic safety of consumer credit products.

I am very concerned about the stability of our banks right now.

We have recommended, for example, in our most recent report on autos that the taxpayers' ownership, the shares that Treasury now holds in Chrysler and General Motors should be put into a trust to be better managed on behalf of the…

I don't understand where Treasury is going next to deal with that problem.

We are going to have to address the coming problems with commercial real estate mortgages.

I believe that a meaningful resolution authority is a central part of getting this economy back on its feet.

I share your concerns about the effect of ongoing taxpayer subsidies.

We put together a management report to Treasury identifying a lot of the frustrations, which I heard were exposed at Senator Menendez's hearing.

I appreciate the opportunity to be here today to talk about the work of the Congressional Oversight Panel.

Congress should end the era of 'Too Big to Fail' by restoring a credible threat of failure for the largest financial institutions.

In my view, two proposals from this report are critical to protecting the American financial system and preserving the ability of families to build wealth.

We continue to remain very concerned about the toxic assets that remain on the books at the banks.

We started this process saying--Secretary Paulson came to this very room and said we need to get those toxic assets off the books of the banks.

Your business has failed. You failed. Your shareholders are wiped out.

The toxic assets remain on the books of the banks; the commercial real estate mortgages are a coming crisis.

We also are concerned that parts of the foreclosure mitigation process are just--they are just ignoring big pieces of the problem out there.

Taxpayers really want to know and should have a right to know what is going on with their investments.

Perhaps the most frequent one is just the question: Is it working?

Until we find a way or commit ourselves to a way to say, one way or the other, we are resolving those assets on the books of the banks...

I am less confident that we have adequately arranged for the death of financial institutions that need to fail.