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And then the fed chair actually used that opportunity to just open the door wide open. for these big banks that wanted to do three things, load up on risk, boost their short term profit and paid themselves enormous bonuses and big salaries. and, then blow up the banks. forcing the government to come back and back stop them. it is very, very important that we in congress could have stopped them. we got to tighten back on these banking regulations. and you are right, lawrence. this is a part of why i m running for president. because i truly do believe that we need a government that isn t just there, to work for the rich and the powerful, for those who are well connected, for those who can hire an army of lobbyists, come to washington, get ruled in their ....
Stricter rules on banks so that they don t crash joining us now in her first and national television interview since announcing her reelection campaign s democratic senator, elizabeth warren of massachusetts. to the housing and urban affairs committee. senator, thank you very much for joining us tonight in your first and national campaign appearance. i know that you re very much concerned with what the fed is doing these days and i would like you to get into that for us and tell us what you think the fed chairman should be doing. but, also can you convey your interest in urgency about the fed to voters? i have never seen a senate campaign used that productively as an issue with voters. so think about it this way the fed has a lot to do with basic security of our akana me. whether or not when you put ....
Money in banks you ll be able to get that money back out when he needed, and that is true for families, it s true for small businesses, it s true for nonprofit. it is true for all of it. now, the problem we have got is that the bankers, especially the big bankers, the ones with the multi billion dollar banks come to washington and say we can regulations. week in the regulations. following the crash in 2008 we tightened those regulations with but then it came back and they said we condemn some. aren t donald trump actually ran for president, telling the multi billion dollar bank that if people would elect him, he would weaken those regulations. he got elected, he then put regulators in place who had his same philosophy go light on these multibillion dollar banks. then he went to congress, and he said to congress, rollback some of the restrictions that s what happened. ....
Tightening may be needed. and the feds projections pencil and just one more rate hike, but i would stress there s just so much uncertainty here. the biggest source of uncertainty is all of this pressure on banks and how the banking crisis is going to make it more expensive for everyone to borrow powell he considered the feds just doesn t know yet how much all of this will slow the economy. and i think the answer to that question is going to go a long way in determining just how much more work the fed has to do to get inflation back down. back to you. thanks to matt well, senate democrat elizabeth warren says the rate heights will mean two million layoffs. by the end of the year. she s accusing fed chair jerome powell of pushing the us towards recession is what she told cnn, strict tapa about powell and the banking crisis. he has spent five years weakening regulations over these multibillion dollar banks predicted five years ago. the ....
Watching, but democratic senator elizabeth warren of massachusetts, says jerome powell, the federal reserve chair is doing what she calls a terrible job. watch what she told our jake tapper just a little while ago. he has spent five years weakening regulations over these multibillion dollar banks predicted five years ago. the consequence of that kind of weakening would be that we would see these banks load up on risk builder short term profits give themselves giant enormous up. bonuses and big salaries and then some of those banks will explode. and that is exactly what has happened on share pals watch. she says powell shouldn t be chairman of the federal reserve. do you have concerns mr secretary with his leadership? no. i think he is a appropriate fed fed chair. i have disagreed ....