Blame must primarily be placed at the feet of these financial institutions which gambled and then cashed in on exorbitant transaction fees for creating exotic new financial product...
you need to do more here, and that is one of the main tools that we have, is that type of horizontal review.
Let me talk to Mr. Cole. As the umbrella regulator of several large financial institutions, do you feel that you are res...
the fact that they did not have systems in place to adequately assess the risk, which I think is a fair conclusion of th...
it raises an issue, which is that in 2006, you had at least had serious concerns because of the stress testing that thes...
I would hope it would be public.
I would presume, and correct me, that those procedures, those appropriate procedures you described, were not being deplo...
And it raises the question with respect to the Federal Reserve that if these documents are solely within the purview of ...
You know, making the diagnosis that you are ill and then not treating the patient is, you know, malpractice.
Having listened to that, it is, I think, very insightful, and it seems to be a great approach.
This financial crisis has demonstrated that, contrary to the presumption of many, financial institutions were unprepared...