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That accounts by wells fargo employees. This is just over three and half hours. The committee will come to order. We have a quorum here. I will begin with five minutes of opening statements. Mr. Quarter it, i know you are here at our committees invitation for statutory appearance, but i am otherwise surprised to see you here. Or have been many press reports saying that you would otherwise have returned to ohio to pursue a gubernatorial bid. Perhaps the rumors of your political aspirations are greatly exaggerated. On the other hand, im also surprised you are here, because as you are well aware the president can dismiss you at will. , you can berank removed for a cause. Either way, i believe the president is clearly justified in dismissing you. I call upon the president to do just that into doing immediately. There is no greater form of Consumer Protection than fostering competitive, innovative markets. And then also vigorously ....
Something to do with the fact that the financial liberalization hadnt yet happened and that that had something to do with the stability of the it surely did. The fact that the stock market kind of went up 15 to 20 a year every year through the 50s even though Economic Performance was kind of lousy and getting worse had something to do with a growing sense the world what kind of reverse to decreases in the risk premiums but no doubt what you are describing is a portion of the story the extent to which one could go back to that in the modern world. I have a question in terms of a Lesson Learned from the last episode in the recession in the u. S. Some would say that a lot of policymakers and attention went to strengthening the Financial Center wall street and there was considerable success there and too little was d ....
Be very liquid, but youre not guaranteed you will get paid back in full. I would think it would be a wonderful future where our grandchildren look at these plain vanilla bond Bank Deposits like they look at dvds, that that is, what am used to do that . That is a crazy. We do not do that anymore. There is really a scope to do that. I think we need more Public Education about the Financial Sector, about finance in general , and i speak certainly of public tv, radio, internet, but much more broadly about hopefully providing balanced analysis, and then a be helping them understand some of these, located contracts that they now have to buy because we do not have anything except an atm at the bank. And then finally, of course, the mythical system is at the core of the political system is at the core of all the financial cri ....
2 trillion to 3 trillion less out of it that may be regarded as its capacity, every single year. That there are more kids living at home because they cant get jobs as a graduate from school in the industrialized world than there have been in decades. You can regard that as a kind of continuing crisis is with us today. I guess that would appear to be the crisis that ought to be the preoccupation. Questions . Come to the microphone. People inre enough the room. There should be a few questions. Im going to be greedy and questions. The shock that has given us a new equilibrium . For all the others, theres a lot of talk about liquidity and its hard to tell liquidity versus the solvency and the importance of acting quickly. When you act quickly and do the stress tests, doesnt really matter if you sort out which is liquidity and which is solvency or is important thing just to divide the banks into two piles like maybe roosevelt turned the bank holiday . Andou recapitalize some wipeout others ....