I think that it would make it more likely that in the next financial crisis Congress and the President would be faced with the same horrible choices they faced in 2008.
Michael S. Barr: “I think that it would make it more likely that in the next financial crisis Congress and the President would be faced…”
Editor's note · Context
Barr warns that repealing orderly liquidation authority could lead to more bailouts during crises.
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More from Michael S. Barr
I believe that it should be the sense of Congress that the policy of the United States is to prevent from Iran from obtaining a nuclear weapon by all means necessary.
I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.
I think we need to take a good, hard look inside at the Federal Reserve, at our supervision, at our regulation.
We definitely want innovation in our banking system. Innovation has been critical to having a thriving financial sector and a thriving economy.