The systemic threats to the U.S. financial system were not remedied when Congress passed the watered-down Dodd-Frank financial reform legislation in 2010. While that has been evident with each Federal Reserve bailout of the mega banks and their derivative counterparties, the threat has now gained increased urgency for Congress to confront as a result of a new academic study. A team of four highly-credentialed academics at four separate universities present compelling evidence that one of the four largest U.S. banks, with “assets above $1 trillion,” could be at risk of a bank run.
Academic Study Finds that One of the Four Largest U.S. Banks Could Be at Risk of a Bank Run
Tag: Sheila Bair
Sheila Bair, Former Chair of the FDIC, Is Now an “Organizer/Director” of a Cayman Islands Crypto Company that Got a U.S. National Bank Charter Last Year
On November 17, Sheila Bair, the former Chair of the Federal Deposit Insurance Corporation (FDIC) during the financial crisis of 2008, went on CNBC to lament the lack of controls leading to the collapse of the crypto currency exchange, FTX. During the interview, Bair used the phrase “nobody looking behind the curtain.”
Sheila Bair, Former Chair of the FDIC, Is Now an “Organizer/Director” of a Cayman Islands Crypto Company that Got a U.S. National Bank Charter Last Year
Related (why no one was prosecuted for the financial crisis of 2007–2008 + another comment):
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Ms. Cat’s Chronicles 