So, he trusted them too much, it turned out. Sunday night at 8 00 eastern on cspans q a. Next, economic scholars and banking experts discuss Monetary Policy and the impact of past Federal Reserve actions on small and large Financial Institutions. This was held by the American Enterprise institute. Its about an hour and 45 minutes. Good morning and welcome to the American Enterprise institute. This morning we have a very interesting policy session entitled how has a decade of extreme Monetary Policy changed the Banking System . Weve assembled a panel of experts, who well introduce you to in a minute. But before that, let me just set the stage here. As you all know, the financial crisis changed the Banking System. The resolutions that happened in the crisis integrated commercial and Investment Banking like never before. These resolutions created todays too big to fail institutions. The crisis led to greatly expanded fed emergency liquidity support. The fed became the lender of first reso
Experts who well introduce you to in a minute. But before that, let me just set the stage here. As you all know, the financial crisis changed the Banking System. The resolutions that happened in the crisis integrated commercial and Investment Banking like never before. These resolutions created todays too big to fail institutions. The crisis led to greatly expanded fed emergency liquidity support. The fed became the lender of first resort instead of the lender of last resort. T. A. R. P. Temporarily nationalized the Banking System, and the Congress Passed the dodd frank act to extend post t. A. R. P. Control over the system. It gave regulators extensive new powers and responsibilities over the Financial System. Deposit insurance limits increase by a factor of twoandahalf, and the slow recovery triggered fed qe stimulus, which created massive Bank Reserves, which required new fed operating procedures. So this morning, were going to discuss all these changes with a panel of experts. And
Area. We will see whether there is more interest in this market. They are always up aeros. We are also seeing intel. He would retire in may. The board will of both internally and externally. He has been with the company for almost 40 years. It has been hard for a lot of these tech companies. Demand has been week. They hit a new 52 week low, but now they have an up arrow. Connell we will shift over to the debt crisis. President obama reached out and spoke to some. Name ceos try to avoid going over the fiscal cliff. Dagen why is this a bad idea, Monica Crowley . This is what the president should be doing, should he not . If he didnt have a history of blowing off these ceos and their advice, and we would say, yes. Every single time he has asked them to come in and talk, nothing comes of it. He doesnt listen to any of them dagen maybe the fear is that we will go over the cliff. Most of the ceos that you just put up on the screen, warren buffett, a huge supporter of his support tax hikes. T
He went to harvard. He went to oxford. He became an internet and the nixon white house. Both the republicans and democrats wanted him. In the end he chose the democrats. He became a lawyer. He became an investment banker and then he became u. S. Budget director under president clinton. People were talking about him as a possible treasury secretary. At fannie mae, raines carried on with the fast growth policies of jim johnson. The Clinton Administration aide him on. In july 1999, hud secretary announced an effort he would increase the percentage of their mortgage financing that went to low or moderate income families, to 50 in 2001, from 42 that was set back in 1995. Cuomo said these new rules would provide Affordable Housing for 28. 1 million families over the next decade. Think about it. Cuomo could promise to create 28. 1 million homeowners without asking congress to spend a single penny. He simply told fannie and freddie to go out and do it, and they said we would be delighted. You
But i have not. Lori i have only seen it on broadway. Stalks off to a tough start. Early numbers point to a tough season. Tracy a nice and shiny fiscal cliff. President obama cut his vacation short. We are tracking where it is headed next. We are expecting negotiations to continue tomorrow. There is talk now that that may not happen. Time to head down to the New York Stock Exchange with Nicole Petallides. Nicole Merry Christmas to everybody. The vix, the fear index, has been to the upside. Whether or not washington will solve the worries about the socalled fiscal cliff approaching quickly. Here is a look at the dow. 13,100 even. Most of the dow components are under pressure. Hewlettpackard doing well and bank of america in the financial round. It really is being laid upon by the retailers. I no adam shapiro will add on to that. There is a look at some movers. Michael cores down over 6 . Tracy i was in the balls this weekend. Lori crowded theater not like i thought it would be. Adam sha