The wagons circling around TARP Congressional Oversight Panel Chair Elizabeth Warren should come to no surprise. She has the guts to try to do her job after all.
Naked Capitalism points out our biggest promoter of political economic Calvinball, House Chair Nancy Pelosi is now doing the dirty on one of the few voices of reason in D.C. (and of course this is true for Professor Warren is an outsider).
So why are we pointing a finger at Pelosi in particular? The next chapter is her appointment of one Richard Nieman to the Congressional Oversight Panel. Under the TARP rules, the House Majority leader selects one of the oversight panel members, so this choice was completely under her control.
Well, as we all know insolvent banks need to be fed even more money to operate and instead of plain nationalizing them we have Speaker of the House Nancy Pelosi considering even more financial bail out TARP money!
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