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----
Foster recalls the AIG crisis and its impact on European banks.
Share
More from Bill Foster
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 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.
Other voices in this conversation
