so, he trusted them too much, it turned out. sunday night at 8:00 eastern on c-span s 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. it s 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? we ve assembled a panel of experts, who we ll 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 today s too big to fail institutions. the crisis led to greatly expanded fed emergency liquidity support. the fed beca
experts who we ll 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 today s 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 two-and-a-half, and the slow recovery triggered fed qe stimulus, which created massive bank reserves, which required new fed operating procedures. so this morning, we re going to discuss all these changes with a panel of exp