represent a systemic risk, but they labeled it a systemic risk nonetheless. And what I'm actually interested in, well, there are a lot of things I'm interested in, but one of them is I want to understand how do they justify this? Because one of the things that I learned in the 2008 financial crisis was that when push comes to shove, the government can do anything. And one of the things that I've learned to try to understand is how do they justify the things that they do? So I'm curious to understand legally, how do they justify this? How did this fall within their regulatory purview? Yeah. And the first thing I'll say is maybe to push back on some of the critique that the Fed will bend its laws as necessary in a crisis. They do take this very seriously. And, you know, so I was thinking in advance of this, okay, if the Fed is willing to call this systemic, because the Fed has to sign off on the FDIC's use of the systemic risk exception. And so if the Fed signs off on that, then they (16/36)
You are viewing a single comment's thread from: