Blew up in a few people make billions and billions of dollars because they cooked the books and they grabbed all that cash and we had cars reports said you know what this exact same thing is going to happen again in 10 to 12 years and guess what here we are 12 years later and stacey and it continues to happen the last time in the 2007 to 2008 financial crisis we had cd those collateralized debt obligations and Mortgage Backed securities and credit default swaps and these things and then lo and behold the Global Financial system collapsed and lo and behold our Central Banks that done with a lot of money that is now being dorf by the amount of money being printed for this go round but the bad stuff actually hasnt even happened yet this is what this article is warning about and its from Frank Portnoy who used to was working at Morgan Stanley at the time of the 2008 financial crisis and hes kind of warning that is going to happen this time but the new c. D. O. Is called the c l o the colla
And remember how the wall street people were you know conspiring and then it all blew up in a few people make billions and billions of dollars because they cooked the books and they grabbed all that cash and we had cars reports said you know what this exact same thing is going to happen again in 10 to 12 years and guess what here we are 12 years later and stacey and it continues to happen the last time in the 2007 to 2008 financial crisis we had a cd those collateralized debt obligations and Mortgage Backed securities and credit default swaps and these things and then lo and behold the Global Financial system collapsed and lo and behold our Central Banks that done with a lot of money that is now being dorf by the amount of money being printed for this go round but the bad stuff actually hasnt even happened yet this is what this article is warning about and its from Frank Portnoy who used to was working at Morgan Stanley at the time of the 2008 financial crisis and hes kind of warning t
Usual bag of tricks that back in 2008 Global Financial crisis and remember that movie the big short and remember i was obvious that everything was going to blow up and remember how the wall street people were you know conspiring and then it all blew up in a few people make billions and billions of dollars because they cooked the books and they grabbed all that cash and we had cars reports said you know what this exact same thing is going to happen again in 10 to 12 years and guess what here we are 12 years later and they said and it continues to happen the last time in the 2007 to 2008 financial crisis we had cd those collateralized debt obligations and Mortgage Backed securities and credit default swaps and these things and then lo and behold the Global Financial system collapsed and lo and behold our Central Banks that done with a lot of money that is now being dorf by the amount of money being printed for this go round but the bad stuff actually hasnt even happened yet this is what
Any time. Members are reminded to keep their video function on at all times. Members are reminded that theyre responsible for muting and unmuting themselves and to mute themselves after they are finished speaking. Consistent with the regulations accompanying the resolution, staff will mute members when not recognized to avoid inadvertent background noise. All house rules relating to order and decorum apply to this remote hearing. [ inaudible ] economy and i know recognize myself for four minutes to give an opening statement. Chair powell, the law that required the Federal Reserve chair to testify before congress twice each year was established back in 1978. However, no fed chair has ever testified before this committee with the economy in the condition that it is in today. More than 116,000 americans are dead from the coronavirus. And just last week, 21 states recorded an increase in their average daily new cases compared to the prior week. The april jobs report was the worst in Americ
Determined that Woodrow Wilson was a racist and therefore they got rid of the name so i suggested and the fed Woodrow Wilson was a racist after president Woodrow Wilson find the Federal Reserve act into law on the evening of december 23rd 1913 he told the men and women grouped around him quote i feel that i have had a part in completing a work which i think will be of lasting benefit to the business of the country so councils affair right council 5 Council Culture news accounts of the 5th everything i spent counseled up and sold now is meaningless unless you counsel both that unless you counsel the fed then cancelling all those t. V. Shows canceling all those celebrities tearing down all those statues doing all those protest is meaningless with a capital m. You have wasted your life away completely you are a waste you are a waste if you dont counsel the fed if you dont counsel the fed then youve wasted your life its that simple millennial jhansi baby boomers and gen x. If you do not ca