Bill Foster: “My time has expired, but I would hope that some of the political people at the White House would inform the Fed that…”

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----

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

This made the discharge petition much more effective at its intended purpose, which is sort of to operate as a safety valve against, you know, the Speaker's rather dictatorial power.

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