“I don't think we can afford to go through that kind of crisis again, and the orderly liquidation authority and the prudential measures put in place were designed to prevent the kind of problems of bailouts in the future.”
Barr warns against repealing measures that prevent future financial crises.
Share
More from Michael S. Barr
I personally oppose it quite significantly. I think it is, I would use a technical term, 'dumb,' the way they describe their rule.
I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.
The bank did respond to regulator citations but those responses were insufficient.