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Elizabeth Warren Esquire Magazine

Esquire interview

25 Oct, 2012

Warren gives her thoughts on the Obama financial bailouts:

You know, without restrictions, no. So I’m going to put it this way: It was clear something had to be done. The part that I was just beside myself over was the lack of accountability. I mean accountability in every meaning of that word: how the money would be given out, whether or not the banks would be accountable for it. Go back and look at that first report, because that’s what that first report is about. I could not believe that, that the treasurer of the United States government was shoveling money out the door to the nine largest financial institutions on a no-questions-asked basis…. And in some ways it was worse than that, because it not only had no restrictions to speak of, it had no restrictions in the statute — it was a bait-and-switch.