Elizabeth Warren: Foreclosures Threaten Economy
Elizabeth Warren specializes in bankruptcy and contract law at Harvard Law School. Frank Carrere hide caption
Elizabeth Warren (left) and her daughter Amelia Warren Tyagi wrote The Two-Income Trap together in 2003.
Frank CarrereAccording to a report issued Mar. 6, 2009 by the Congressional Oversight Panel charged with monitoring the use of bailout funds, the rate of home foreclosure is now three times its historic rate — "so large that it threatens the entire economy."
Panel chairwoman Elizabeth Warren joins Fresh Air to discuss the foreclosure problem — and what can be done about it.
The Congressional Oversight Panel was created in October 2008 to oversee the $700 billion Troubled Asset Relief Program (TARP). Warren was appointed chairwoman in the panel's first meeting. In December 2008, Warren criticized the bailout program for lacking a clear direction or approach.
Warren is a Leo Gottlieb Professor of Law at Harvard Law School and the co-author of The Two-Income Trap: Why Middle-Class Mothers & Fathers Are Going Broke, which she wrote with her daughter in 2003.
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