http://finance.yahoo.com/tech-ticker/article/355739/Wall-St.-Is-Winning-Elizabeth-Warren-%22Speechless%22-About-Record-Bonuses?tickers=XLF,FAS,FAZ,JPM,GS,BAC,C&sec=topStories&pos=8&asset=&ccode=
Comparing the situation today vs. a year ago, Warren observes:
•Even Too Bigger to Fail: A year ago the big concern was systemic risk and how to deal with 'too big to fail' firms, she recalls. Now "the big are bigger, we wiped out a lot of small folks and there's more concentration" in the banking system.
•Still Toxic: TARP was created explicitly to remove toxic assets from bank balance sheets. "They're still there by and large."
•Stress Test Failure: Unemployment has "blown through" the worst-case scenario in the stress test from February, Warren notes. But "we haven't repeated the stress test, or revealed any more information about what's going on inside these financial institutions."
In sum, "all the things going on [a year ago] that were serious, serious problems for the financial institutions seem to me are still serious, serious problems," she says.
Finally, Warren pulls no punches when it comes to her criticism of former Treasury Secretary Hank Paulson for his failure to put any restrictions on or monitoring of the initial TARP funds, and for using the money for something other than "toxic asset relief," as originally intended
