Here’s Elizabeth Warren’s interview with CNBC about her report on the TARP spending.
It’s notable mainly for her setting one network anchor straight about the fact that, even though, “money is fungible” it would still be possible to track for Treasury to track its bailout spending.
Warren: You and I could sit here with pencil and paper and come up with a minimum of ten metrics in about ten minutes. If you just hand the money over and say gee moneys money then you won’t see whether or not there’s been any difference. And if that’s the case then it really is just blank checks to financial institutions.
She also has an admirably calm response to Larry Kudlow’s sophomoric contention that asking banks to monitor what they’re doing with our money is “central planing.”
