2017, the then Federal Reserve chief, Janet Yellen, expects no new financial crisis in our lifetimes. All of a sudden, where she said never going to see another financial crisis in our lifetime. I think things have improved, but then I think there are gigantic holes in the system, Yellen says. The former Fed chair cites leverage loans as an area of concern and says there remains an agenda of unfinished regulation.

CHAPTERS:

0:00 Janet Yellen
2:14 Loans to Insiders
2:56 Fed Borrowing Large Amounts
5:13 Banking History
6:41 How Did We Get Here

REFERENCE VIDEOS:

The 2023 Banking Crisis Fuse Has Been Lit

Banks Keep the Profits & Stick Tax Payers with the Losses

The Wealth Transfer Set Up

SLIDES FROM VIDEO:

SOURCES:

https://www.aei.org/op-eds/fed-borrows-184-billion-without-congressional-authorization-circumventing-the-debt-ceiling/

https://www.ft.com/content/05673218-c35e-11e9-a8e9-296ca66511c9

https://www.ft.com/content/d567f6ca-1c3a-11ea-97df-cc63de1d73f4

https://www.sec.gov/news/public-statement/lee-volcker-rule-2020-01-30

https://www.washingtonpost.com/business/2020/01/30/volcker-rule-fed/

https://www.occ.gov/publications-and-resources/publications/quarterly-report-on-bank-trading-and-derivatives-activities/files/pub-derivatives-quarterly-qtr3-2022.pdf

US Studies Raising FDIC Bank Deposit Guarantee Beyond $250,000 Cap in Crisis – Bloomberg

https://www.washingtonpost.com/business/2020/01/30/volcker-rule-fed/