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

Frankly, when I read about this, it triggered my PTSD from the AIG situation with credit default swaps during the financial crisis.

I have been amused for a long time at how can it be that there is legislation supported by 70 or 80 percent of the public, a clear majority of Members of Congress, and yet we are not allowed to even vote on it.

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

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…