Bill Foster: “If any of us ran for reelection with a platform of doubling staff salaries, I don't think we would last very long”

Do you remember with AIG, the real problem with AIG falling into bankruptcy is that it would immediately put a bazillion of the European banks into violation of their capital requirements, which was major contagion that----

While the Presidency is often the focus of political pronouncements about macroeconomic conditions, there is no question that it undersells the importance and the independence of the work of the Federal Reserve Board.

I think we should consider adopting this in the coming session of Congress, at least on a temporary basis.

I think it is my personal goal to die before we have another financial crisis, and then I will be doing my job well.