Posted on 03/30/2023 9:18:26 AM PDT by ChicagoConservative27
Treasury Secretary Janet Yellen will say on Thursday that regulators may have to tighten banking rules in the wake of the banking crisis.
The Wall Street Journal (WSJ) obtained prepared remarks Yellen will deliver at the National Association for Business Economics, which will present her with an award in memory of former Federal Reserve Chairman Paul Volker, who was famous for cracking down on inflation. Yellen served as a Federal Reserve chair and other top posts at the nation’s central bank.
Yellen will use her remarks to implement more banking regulations that began in the wake of the 2008 financial crisis.
(Excerpt) Read more at breitbart.com ...
McCarthy should be pounding on the desk and screaming NO DEBT CEILING INCREASE if you go thru with this Bailout
Did she clear that language with Obama?
How about they first enforce the regulations they have.
We’re definitely in the “historical” and “wildly popular” FJB Era of Crises. One Crisis after another. Rapid fire like an “assault rifle”.
Yes Janet
As a deep Swamp Creature, your answer is always more regulations. Regulations, not to stop the insiders & elite but to punish & make it harder on the very people that have followed the rules and still need the services. Any service not just banking.
The existing regulations appear to have been sufficient to avoid the Bank side of this - they just weren’t paid attention to. The repealed regulations don’t appear to have been relevant.
Steven Van Metre was speculating that they would limit how fast you can make deposit withdrawals.
But the more official rumors are that they are going to raise bank capitalization even higher. That will reduce lending in the short run and help induce a recession.
Government always thinks the answer to government failures is MORE GOVERNMENT.
STUPID!!!
Yeah…you ant to put more banks out of business? Jerk them around on regulations.
What they are trying to do Is kill the crypto business before they put out “their” version. Because they know their version is “New Coke” in terms of the crypto world. Only those who MUST use it, will use it.
The treasury will force banks to dump any connection to crypto.
But, until interest rates go back to almost zero, it’s going to take a decade for the deflated assets owned by the banks to come back to life.
And, inflation isn’t going away until they get the Fed rates above the PCE and PPI.
Yellen’s best move is to spend more time with her family—dump the problem on someone else.
So woke banking rules did not work out as she thought.
MAY??? MAY???? MAY???
What cave (BAR) does she live in?????
Tighten, just like in the wake of 2008??? Stupid Twit needs FIRED, HANGED, then buried in a very very deep hole!!
MY SOC SEC goes in 4th Wed of month.
I write out all my bills & mail the checks.
MONEY goes in in one lump-—Comes out in smaller lumps-—BUT gets added & depleted in short window of time.
Correct, no single person in America has done more to screw up the economy than Janet Yellen, now she’s saying “trust me”, we need more rules to in the wake of the crisis I created.
Here's a though: require full transparency by the regulating body, similar to how restaurants have their inspection grades posted in the windows of their establishments.
Here's another thought: if a bank is closed, the regulator in charge of inspecting the bank loses his or her (their) job.
Step 1 - require banks to define what accounts are “liquid” and what accounts are “investment” and notify customers.
- liquid accounts are accounts where the customer can expect their deposits to be available on demand up to the limit of the FDIC insurance
- investment accounts are accounts that place restrictions on the availability of funds.
Step 2 - Require all FDIC protected accounts reserve 50% of the account deposits for the liquid accounts up to the amount covered by the FDIC.
More government will fix it? Big Government marches on.
It might have been better to do it BEFORE the crisis.
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