A Fighting Chance - Chapter 3 Summary & Analysis

Elizabeth Warren
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Summary

Bailing Out the Wrong People. In November 2013, Senator Harry Reid called Warren and asked her to join the Congressional Oversight Panel (COP). They would be overseeing the bank bailouts.

How a Downturn Becomes a Meltdown. The mortgage crisis was brought on by mortgage companies selling products that were unstable and they should have known better than to sell, people taking mortgages they did not understand, and housing prices that soared only to fall back down, leaving many underwater.

Oversight in the Dark. A few weeks later, Warren met her fellow panelists, Damon Silvers and Richard Neiman. They immediately met with Neel Kashkari, the assistant secretary of the Treasury. During the meeting, they learned that all the big banks had already been bailed out and the Treasury was now focusing on the smaller banks.

What is TARP. TARP, or Troubled Asset Relief Program was designed...

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This section contains 1,431 words
(approx. 4 pages at 400 words per page)
Buy the A Fighting Chance Study Guide
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