“I am afraid. I’m afraid because of what I see in the real economy. I’m afraid because I don’t see books that are clean, balance sheets that have been cleaned up. I’m afraid because in October of 2008, Secretary Paulson came to the American people and he said the problem is toxic assets on the books of the banks, and they’re still there.”
This is an excerpt from a recent interview with Elizabeth Warren. While she pays respect to the intelligence and intentions of US politicians, she points out that they often have a top-down view of the economy and fail to see the disparity between constituents. In other words, an economy where the i-banks are paying record bonuses but the individual is losing his house is not sustainable.
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