I should say Treasury is still not considering the panel's recommendation to put the shares of stock of the auto industry and the large financial institutions in trust?
Elizabeth Warren
The Public Record
Elizabeth Ann Warren is an American attorney, academic, and politician serving as the senior United States senator from Massachusetts since 2013. A member of the Democratic Party, she has been a prominent advocate for consumer protection, economic equality, and corporate regulation. Warren gained national recognition for her work in establishing the Consumer Financial Protection Bureau and has focused on issues such as student debt relief and healthcare reform during her tenure in the Senate.
But I thought they were only in the trial part for three months. So why can we not tell it on the 91st day how many people are making into permanent modifications?
So the question I am asking is what is your projection on the proportion that will make it from temporary modifications to permanent modifications.
But you do understand to engage in oversight, we need to understand your numbers and the projections here so we can see if this is working even on your assumption.
We also are concerned that parts of the foreclosure mitigation process are just--they are just ignoring big pieces of the problem out there.
The continuously escalating mortgage foreclosure crisis threatens to overwhelm the entire effort to stabilize our financial system in the interest of broader economic recovery.
I am pushing to say we could do more, and as a leader in the TARP program that has made this $50 billion commitment, I am asking you to do more.
We have pushed for a long time for more transparency, more accountability, more clarity on goals.
The toxic assets remain on the books of the banks; the commercial real estate mortgages are a coming crisis.
We continue to remain very concerned about the toxic assets that remain on the books at the banks.