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Monday, March 20, 2023 7:06:55 PM
Att: B402. Excellent. While watching your video, B402, i thought, surely would have to say 'well said' to Elizabeth Liz on that too. Then, ouch, only after that 
thought did i see B402's reply. Sheesh, true to goddamn form. Someone knocks deregulation and he doesn't offer any credit at all for that. Someone is critical of Jerome Powell saying the deregulation was necessary,
"Elizabeth Warren's media blitz on SVB, in 60 seconds"
At hearing, Warren Presses Fed Chair Powell on Record of Deregulation, Opposes Renomination As Fed Chair
September 28, 2021
Warren to Fed Chair Powell: “Your record causes me grave concern: over and over you have acted to make our banking system less safe. That makes you a dangerous man to head up the Fed, and that’s why I’ll oppose your re-nomination.”
Video of Hearing Exchange
Washington, D.C. — At today's Senate Banking, Housing, and Urban Affairs Committee (BHUA) hearing, United States Senator Elizabeth Warren (D-Mass.) raised concerns to Federal Reserve Chair Jerome Powell regarding the steps he has taken to weaken financial regulation during his tenure, including:
* Weakening stress tests. Stress tests were originally designed to demonstrate whether big banks can survive without a taxpayer bailout. In 2019, the Fed began providing significantly more information about the models used in the tests to the largest banks, essentially giving them the information they need to pass the tests under the guise of “transparency.” The Fed also eliminated the ability of bank supervisors to object to a bank’s planned capital distributions on qualitative grounds if there were deficiencies in the models and assumptions banks used to estimate losses.
* Eliminating Volcker Rule restrictions. The Volcker Rule separates commercial banking from Wall Street risk-taking. In 2019, Chair Powell exempted more short-term trading holdings from the rule and in 2020, weakened the rules to let the banks invest more of their assets in high-risk private equity and hedge funds. In March 2021, Archegos Capital Management—which was classified as a family office-- and its investment bank financiers started liquidating huge stock positions, causing significant turbulence in capital markets that caused banks to suffer $10 billion in losses.
* Easing liquidity requirements. In 2019, the Fed weakened the Liquidity Coverage Ratio which requires banks to hold enough "high-quality liquid assets" to meet their obligations. The result has increased risks to financial stability of banks and the country’s financial system.
https://fortune.com/2022/08/26/elizabeth-warren-hails-bidens-student-debt-relief-while-saying-sure-i-argued-for-more/
and B402 offers no credit at all for Warren's stance.
That's rich considering her fix on student loans.....
No, no fix, just a give away of nearly a half trillion if it is cleared by scotus with no fix to the student loan system....
Which will be considerably more than FDIC will put out lf the financial crisis is contained to it's current level...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171487618
What is it he disagrees with on Warren's position on deregulation. And on her criticism of Jerome Powell.
All he does is conflate the issue with her position on student loans. Why? And that i note
while not providing any link in evidence of what Warren's position is on the loans issue"
Elizabeth Warren hails Biden’s student-debt relief while saying, ‘Sure I argued for more’
BYJarrell Dillard and Bloomberg
August 27, 2022 at 7:03 AM GMT+10
Sen. Elizabeth Warren. Getty Images
Senator Elizabeth Warren, who lobbied hard for President Joe Biden to forgive $50,000 in student loan debt per borrower, said his much smaller plan can still address racial and gender wealth inequality and help tame inflation.
“Sure I argued for more, and I think there’s more that we can do,” Warren said in an interview Friday. “But it’s important to stop and celebrate this historic moment.”
[...]
Critics of Biden’s plan, including some policy experts, have raised concerns that canceling the student debt would add to inflation, which has been rising at the fastest pace in four decades.
[...]
However, Goldman Sachs .. https://fortune.com/company/goldman-sachs-group/ .. economists in a report said they expect any impact on inflation from the plan to be small. And middle-income households would benefit the most from debt forgiveness.
Warren said restarting loan payments next year will counter inflationary effects.
“The president has linked cancellation to restarting loan payments,” she said. “So 23 million Americans will be paying an average of about $400 a month on their student loan debts. That takes money out of the economy and helps calm inflation.”
[...]
More than 50% of Black borrowers report a net worth less than they owe in student debt and are the most likely group to struggle financially due to student debt, according to the Education Data Initiative. On average, Black college graduates owe $25,000 more in student debt than White college graduates.
https://fortune.com/2022/08/26/elizabeth-warren-hails-bidens-student-debt-relief-while-saying-sure-i-argued-for-more/
Sure, could say we all know Warren's position on Biden's student loan forgiveness so
no need for a link. And to a degree fair enough, still a link for some detail wouldn't hurt.
Seems to me B402 could give credit to Warren for saying something i anyway
thought he would agree with, while also being critical of her on the other issue.
Why conflate the two so no credit is given at all. Only B402 knows for sure why he couldn't (didn't) do that.
thought did i see B402's reply. Sheesh, true to goddamn form. Someone knocks deregulation and he doesn't offer any credit at all for that. Someone is critical of Jerome Powell saying the deregulation was necessary, "Elizabeth Warren's media blitz on SVB, in 60 seconds"
At hearing, Warren Presses Fed Chair Powell on Record of Deregulation, Opposes Renomination As Fed Chair
September 28, 2021
Warren to Fed Chair Powell: “Your record causes me grave concern: over and over you have acted to make our banking system less safe. That makes you a dangerous man to head up the Fed, and that’s why I’ll oppose your re-nomination.”
Video of Hearing Exchange
.@FederalReserve Chair Powell has taken too many actions to weaken the Fed's oversight of our largest banks & deregulate Wall Street. I told Chair Powell today that renominating him for another term is not a risk worth taking and that’s why I’ll oppose his renomination. pic.twitter.com/XwQtUaEZfO
— Elizabeth Warren (@SenWarren) September 28, 2021
Washington, D.C. — At today's Senate Banking, Housing, and Urban Affairs Committee (BHUA) hearing, United States Senator Elizabeth Warren (D-Mass.) raised concerns to Federal Reserve Chair Jerome Powell regarding the steps he has taken to weaken financial regulation during his tenure, including:
* Weakening stress tests. Stress tests were originally designed to demonstrate whether big banks can survive without a taxpayer bailout. In 2019, the Fed began providing significantly more information about the models used in the tests to the largest banks, essentially giving them the information they need to pass the tests under the guise of “transparency.” The Fed also eliminated the ability of bank supervisors to object to a bank’s planned capital distributions on qualitative grounds if there were deficiencies in the models and assumptions banks used to estimate losses.
* Eliminating Volcker Rule restrictions. The Volcker Rule separates commercial banking from Wall Street risk-taking. In 2019, Chair Powell exempted more short-term trading holdings from the rule and in 2020, weakened the rules to let the banks invest more of their assets in high-risk private equity and hedge funds. In March 2021, Archegos Capital Management—which was classified as a family office-- and its investment bank financiers started liquidating huge stock positions, causing significant turbulence in capital markets that caused banks to suffer $10 billion in losses.
* Easing liquidity requirements. In 2019, the Fed weakened the Liquidity Coverage Ratio which requires banks to hold enough "high-quality liquid assets" to meet their obligations. The result has increased risks to financial stability of banks and the country’s financial system.
https://fortune.com/2022/08/26/elizabeth-warren-hails-bidens-student-debt-relief-while-saying-sure-i-argued-for-more/
and B402 offers no credit at all for Warren's stance.
That's rich considering her fix on student loans.....
No, no fix, just a give away of nearly a half trillion if it is cleared by scotus with no fix to the student loan system....
Which will be considerably more than FDIC will put out lf the financial crisis is contained to it's current level...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171487618
What is it he disagrees with on Warren's position on deregulation. And on her criticism of Jerome Powell.
All he does is conflate the issue with her position on student loans. Why? And that i note
while not providing any link in evidence of what Warren's position is on the loans issue"
Elizabeth Warren hails Biden’s student-debt relief while saying, ‘Sure I argued for more’
BYJarrell Dillard and Bloomberg
August 27, 2022 at 7:03 AM GMT+10
Sen. Elizabeth Warren. Getty Images
Senator Elizabeth Warren, who lobbied hard for President Joe Biden to forgive $50,000 in student loan debt per borrower, said his much smaller plan can still address racial and gender wealth inequality and help tame inflation.
“Sure I argued for more, and I think there’s more that we can do,” Warren said in an interview Friday. “But it’s important to stop and celebrate this historic moment.”
[...]
Critics of Biden’s plan, including some policy experts, have raised concerns that canceling the student debt would add to inflation, which has been rising at the fastest pace in four decades.
[...]
However, Goldman Sachs .. https://fortune.com/company/goldman-sachs-group/ .. economists in a report said they expect any impact on inflation from the plan to be small. And middle-income households would benefit the most from debt forgiveness.
Warren said restarting loan payments next year will counter inflationary effects.
“The president has linked cancellation to restarting loan payments,” she said. “So 23 million Americans will be paying an average of about $400 a month on their student loan debts. That takes money out of the economy and helps calm inflation.”
[...]
More than 50% of Black borrowers report a net worth less than they owe in student debt and are the most likely group to struggle financially due to student debt, according to the Education Data Initiative. On average, Black college graduates owe $25,000 more in student debt than White college graduates.
https://fortune.com/2022/08/26/elizabeth-warren-hails-bidens-student-debt-relief-while-saying-sure-i-argued-for-more/
Sure, could say we all know Warren's position on Biden's student loan forgiveness so
no need for a link. And to a degree fair enough, still a link for some detail wouldn't hurt.
Seems to me B402 could give credit to Warren for saying something i anyway
thought he would agree with, while also being critical of her on the other issue.
Why conflate the two so no credit is given at all. Only B402 knows for sure why he couldn't (didn't) do that.
It was Plato who said, “He, O men, is the wisest, who like Socrates, knows that his wisdom is in truth worth nothing”
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