An article at Yahoo! Finance Tech Ticker, "Elizabeth Warren: 'Problems Lurking' in Same Banks Tim Geithner Says Are 'Much Stronger,'" reveals some interesting differences of opinion about what some might consider to be the backbone of our economy:
First up, we have this:
Three years ago this month, the first major financial domino fell as Bear Stearns was forced to accept a "take-under" offer from JP Morgan. We've come a long way from the dark days of 2008 and "the core of the American financial system is in a much stronger position than it was before the crisis," Treasury Secretary Tim Geithner's recently declared. (See: Geithner's Victory Lap: Claims Financial System "Much Stronger" vs. Before Crisis)
Indeed U.S. banks posted net income of $87.5 billion in 2010, the best since 2007.
And then there's this:
But former TARP Cop Elizabeth Warren isn't as sure as Geithner that the coast is clear.
"I think there are parts [of the system] that have changed but I still worry, a lot," she says. "We have more concentration in the banking industry than we had before [and] we're going to have a ‘too big to fail' problem lurking around the edge of this financial system until we've demonstrated how we're going to deal with financial institutions who take on too much risk."
Surreality vs. reality?