Bill Foster: “When the Fed has to step in to support the markets for Treasury bonds, I view it as sort of the financial equivalent of…”

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.

I guess when things are going well, as they currently are, it is all of our duties to look around the curve and see the risks that keep you up at night.

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----