it just seemed to me a listing of possible horror stories with no indications that there was any significant likelihood of any of it happening. Systemic risks occur not only when people lose money, but when the people who lose money cannot back up their losses and you get this cascading effect. That would make everyone in America a systemic risk. I was really disappointed in that one.
Barney Frank critiques the assessment of systemic risks in financial services.
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They shouldn't lose their tax-exempt status but neither should they be able to go for a Federal grant as they would be under this bill.
I was one of three Members of the House who voted against that. Three of us, Ron Paul, Dave Wu, and I voted to allow this bigot to continue to demonstrate his bigotry.
I actually opposed the bailout, the $700 billion in bailout we gave to the banks.
No one doubts that if a change in administration comes and the new President disagrees with the existing Director, he or she can be removed.
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