will go and whether money is going to be loose or tight, is this huge regulatory role of the fed chair. yes. i mean, you are essential lay the regulator of last resort for the entire industry, right? yeah. let s think, even before dodd/frank, which alexis and i worked really hard on, actually gave a lot more power to the fed and didn t deal with its conflicts of interest, which we would have liked to have seen. before dodd/frank, for 14 years, the federal reserve could have stopped subprime lending in the crisis. it sat on its hands it could have done it. it had the power to do it. it had the power to do it. i won t do this for your viewers, but it had the power, and in fact, was the only real regulator that had the power to regulate subprime mortgages for 14 years, basically could have prevented the foreclosure crisis. and just really quickly, post dodd/frank, the fed has the power to break up banks and split them up into glass-steagall-like entities, if it wanted to.
the debate about the fed chair, this is lost, usually because it comes out of the financial process exclusively and it comes out with traders making bets on which direction interest rates will go and whether money is going to be loose or tight, is this huge regulatory role of the fed chair. yes. i mean, you are essential lay the regulator of last resort for the entire industry, right? yeah. let s think, even before dodd/frank, which alexis and i worked really hard on, actually gave a lot more power to the fed and didn t deal with its conflicts of interest, which we would have liked to have seen. before dodd/frank, for 14 years, the federal reserve could have stopped subprime lending in the crisis. it sat on its hands it could have done it. it had the power to do it. it had the power to do it. i won t do this for your viewers, but it had the power, and in fact, was the only real regulator that had the power to regulate subprime mortgages for 14 years, basically could have pr
process exclusively and it comes out with traders making bets on which direction interest rates will go and whether money is going to be loose or tight, is this huge regulatory role of the fed chair. yes. i mean, you are essential lay essentially the regulator oaf last resort for the entire industry, right? yeah. let s think, even before dodd/frank, which alexis and i worked really hard on, actually gave a lot more power to the fed and didn t deal with its conflicts of interest, which we would have liked to have seen. before dodd/frank, for 14 years, the federal reserve could have stopped subprime lending in the crisis. it sat on its hands it could have done it. it had the power to do it. it had the power to do it. i won t do this for your viewers, but it had the power, and in fact, was the only real regulator that had the power to regulate subprime mortgages for 14 years, basically could have prevented the foreclosure crisis. and just really quickly, post dodd/frank, the
since the bodies of the district attorney, mike mclelland and his wife were discovered one week ago, one person of interest has surfaced in connection to those murders, only one person in connection to this investigation, this man, a justice of peace and ex-police officers from texas described in news reports as essential lay disgruntled former employee. former justice of the peace, caught stealing public property. he lost his job because of that. he ended up getting prosecuted by one of the murdered county prosecutors. could this have been a disgruntled former public employee going back to get revenge. the day after the l.a. times identified him as a possible person of interest, he came forward to say he met with police and let them do a gunpowder swab of his hands and cooperating with law enforcement
only one person in connection to this investigation, this man, a justice of peace and ex-police officers from texas described in news reports as essential lay disgruntled former employee. former justice of the peace, caught stealing public property. he lost his job because of that. he ended up getting prosecuted by one of the murdered county prosecutors. could this have been a disgruntled former public employee going back to get revenge. the day after the l.a. times identified him as a possible person of interest, he came forward to say he met with police and let them do a gunpowder swab of his hands and cooperating with law enforcement entirely and that it was not him. and that guy so far has been the only remotely cogent line of inquiry other than, of course,