Elizabeth Warren, the Harvard professor chairing the TARP oversight committee is now conducting hearing with Treasury Secretary Tim Geithner. You can see it on CNBC. She’s been profiled in a couple of places. Here’s one.
She’s a bit dorky but homes in on the critical point. Her first question to Geithner: Why was the auto industry held to harsh standards while the banks got very different treatment, and does Geithner think the banks were better managed?
The phone rang and I missed most of his answer, but I heard enough of it that it seemed to come down to “the banks are too big to fail.”