On the recordMarch 17, 2009
Then we would need one for about 25 major market banks, money market banks in New York City, one regulator each for each one, because those are the ones that are too big to fail.
Said by
Jim Bunning
Source
congress.govThen we would need one for about 25 major market banks, money market banks in New York City, one regulator each for each one, because those are the ones that are too big to fail.
Bunning highlighted the need for multiple regulators for large banks deemed too big to fail.
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in 2006, we had a huge housing crisis in this country. And even before that, the mortgage crisis showed its face in 2001 and 2002.
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Is that not just kind of a transferring of what we cannot pay for and what our excesses are presently to my children and grandchildren? Is that not kind of a wealth transfer or a debt transfer?