Today the Congressional oversight panel questions the US Treasury on the status of TARP and the latest US banking data. Chair Elizabeth Warren notes several areas of serious concern in this Bloomberg interview: 101 Banks have so far missed their TARP repayment instalments. 3000 of 8000 US banks have significant exposure to the now imploding commercial realty market. 6 out of 19 stress-tested banks have commercial realty exposure which exceeds their Tier one capital.
Warren: “the problems are getting worse.” Watch the clip here.
Here was Geithner giving the Treasury's prepared statement today to kick off the hearing.
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