I would hope that going forward, one thing we have learned from this crisis is there is a need for all of us in regulation to act in a timely way to take away the punch bowl and to require more stringent capital requirements.
Yellen emphasizes the need for timely regulatory action to prevent future crises.
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President Biden has made absolutely clear that he opposes increasing taxes on people earning less than $400,000.
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But what caused our cash balances to run to exceptionally low levels in the past was the failure of Congress to raise the debt limit.
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