Bill Foster: “I think that there are important ways in which the current financial system can upgrade itself.”

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

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.

This bill strengthens FSOC's capability to execute its mission by improving consistency, accountability, and outcomes for our financial system. I appreciate also Ranking Member Waters' support for this bill in committee and urge my…

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----