Elizabeth Warren the Watchdog

Does the name Elizabeth Warren sound familiar? She's a Harvard Law Professor, bankruptcy expert and well-known author with two national best-selling books. She also happens to be the chairwoman of the TARP Oversight Panel, which is responsible for overseeing the execution of the $700 billion in TARP funds. In other words, she is our ultimate protector. It is her job and the panel's responsibility to make sure that our money is being spent wisely and that we can be assured that our tax dollars are being put to good use. She cannot prevent any activity from happening but she can alert the American people when and where the Treasury Department is failing.

In a recent report the panel noted the Treasury Department under Paulson overpaid an estimated $78 billion dollars and had received back only about 66 cents on each dollar invested. Warren specifically noted the lack of details from Treasury Secretary Tim Geithner.

In our interview today she said the Treasury and Geithner were instituting multiple programs with no clarity nor measure to gauge the success of any investment. I asked her if failure in a capitalist environment is an option and if so why we haven't allowed any institutions to fail. Look at what she says. It may shock you!