The Logical Leftist
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Elizabeth Warren DESTROYS Fed regulator that had "pivotal" role in financial collapse
Posted
April 7, 2016
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4,640
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April 7, 2016
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“I’m sorry, are you saying there were no data in the lead up the financial crash that showed the increasing default rates on subprime mortgages and what they were doing to communities across America? Did you have your eyes stitched close,” a clearly incredulous Warren interrupted.
“There was anecdotal evidence to be sure,” Chanin replied.
“Oh my god,” Warren let out in exasperation. “If you are still defending your time at the Fed,” Warren said to Channin, “that raises even more questions about your judgement.”
“So when you talk now about how certain regulations are too costly or too difficult to comply with, you sound a lot like you did before the 2008 crisis when you failed to act. So my question is, given your track record at the Fed, why should anyone take you seriously now?”
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