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Hail across the north central nebraska. by this afternoon perhaps about midday we could see some rotating thunderstorms which could produce tornadoes. there are about 3 million people in this moderate watch area, moderate risk area. a much broader area all across the midwest. what you need is moisture, heat, lift, and rotation. severe flooding has high potential between two and four inches of rainfall expected. essentially along interstate 80. sandwiched between interstate 70 and 90. that runs from omaha to grand island to north platte into des moines, northern sections of missouri. i think kansas city, you could see some thunderstorms, but the higher risk moves along that warm front which is traveling towards the north. area of low pressure is going to cause that spin-up at 3 million people at risk today for ....
That is what brought the system to the em of its knees. if we hadn t made that mistake, this would have been a much more manageable crisis, less damaging to the american people. you are right to focus on the fed. the fed was the strongest and most able of the regulators around the world. the mistake the country made was not to provide broader authority risk taking. if you do it on one part of the system the risk moves. that is what happened over time. you move to more lawless neighborhoods. you had a parallel banking system emerge outside banks almost as large as what was done in banks, funded in a vulnerable way with none of the protections we built after the great depression that was the big mistake. that was not the fed s mistake. but it was that mistake that brought the system to the edge of collapse because in those what happened was we faced, you know, the modern version of a ....
This would have been a much more manageable crisis, less damaging to the american people. you are right to focus on the fed. the fed was the strongest and most able of the regulators around the world. the mistake the country made was not to provide broader authority to constrain risk taking across the entire system. if you do it on one part of the system the risk moves. it just moves. that is what happened over time. you move to more lawless neighborhoods. you had a parallel banking system emerge outside banks almost as large as what was done in banks, funded in a vulnerable way, very vulnerable to runs, with none of the protections we built after the great depression to constrain that. that was not the fed s mistake, but it was that mistake that brought the system to the edge of collapse because in those what happened was we faced, you know, the modern version of a classic run on the financial system. people withdrew their money as quick as they could. ....