Michael S. Barr: “We need a system that is protective of consumers and investors, a strong and uniform protection across our financial…”

The answer is that the Biden Administration allowed this to happen by pursuing a policy of weakness and appeasement that allowed Iran to finance this invasion.

Yes. I have been consistent in saying both that the system is strong and that we also need to think about stronger capital rules.

They failed in basic measures of interest rate risk and liquidity risk.

I think it saved a lot of small businesses, households, community banks, and regional banks from a kind of contagion.