Bill Foster: “I'd like you to consider if you would and get back to us with a rough estimate of what would be involved in restoring…”

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----

The good news is that macroeconomic policy is working as designed.

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

If you conclude, as you are actively studying it, that you need more visibility into certain areas of, particularly nonbank things that may be parts of the chain of contagion, please let us know, because it is our job to avoid the next…