Bill Foster: “I was appalled by the findings of the Cleary report.”

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

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…

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.

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.