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.
Share & report
More from Barney Frank
I don't think that adds to systemic risk. There is a loss of social function of economic activity.
I know what invidious discrimination is like. I have been to colored water fountains.
Republicans immersed themselves in an aggressive unrelenting campaign to repeal, weaken, and pressure regulators.
In 2009, Barney Frank introduced the Consumer Financial Protection Agency Act, which created a five-person board at the CFPB.
Other voices in this conversation
