Barney Frank actually said...
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.
Context
Barney Frank critiques the assessment of systemic risks in financial services.
01/28/2014