No, because we have things in place that will prevent that from happening. It is a reminder, however, that it was important that we adopt the rules we have adopted that mean 2008 can't happen again or very -- it's very unlikely to happen again. And it's a refutation of the argument of those who said, oh, you overreacted, we know what we're doing.
Barney Frank discusses the measures in place to prevent another financial crisis similar to 2008.
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I don't think asset managers or insurance companies that just sell insurance as it's traditionally defined are systemically defined . . . Their failure isn't going to have that systemic reverbatory [sic] effect.
I am again very surprised to hear my Republican friends now say our problem is that we have toughened up the standards for banks loaning to people.
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