The Wrong Person for TARP

Harvard Law School Professor Elizabeth Warren believes that all finance companies are evil and is "a giant credit machine that wants to eat families alive.”" As bank analyst Tom Brown points out,

I fear we’re likely to see a document that aims to turn the TARP plan from a program aimed at easing the financial crisis into some back-door borrower-relief scheme that will only delay the pain, but will make everyone feel a lot better in the meantime. Maybe I’m wrong, of course.

We’ll know on Dec. 10. Fortunately, Warren is just one of five members—three Democrats and two Republicans—of the panel. Less fortunately, the group thought it would be a good idea to put her in charge.

A professor with a contempt for consumer finance companies - not exactly the person you want in charge of trying to help save the finance industry.