Nebraska doctor burt folsom received his ba from indiana university, anda from university of nebraska and his phd from the university of pittsburgh. Over the last four decades, doctor folsom has taught at murray state university, northwood university, Hillsdale College and an apostate university. He was a child professor of history at coaldale college from 2003 to 2017. He was recently appointed a distinguished fellow at Hillsdale College as well. Two favorite courses to teach were history of the american presidency and history of the American Economy. Hes also a regular speaker and friend of young americas foundation, especially our center for entrepreneurship and free enterprise. Join me in giving a warm welcome to doctor burt folsom. [applause] thank you. Thank you. Thank you. And i have aquestion for you. [applause] are you glad to be here . I am delighted to be here. I am delighted to be here and since i have this one talk here remaining, i wanted to give you some of the best wisd
Bringing housing and affairs will come to order. Thank you from our eight witnesses today. Senator, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systemically important banks of the United States of america, your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in our country. You hold nearly half the nations deposits, more than 80 trillion in client assets, your banks touch almost every aspect of our Financial System and working americans money, even if they are not your customers. All of that makes you eight of the most powerful people in the country, the banks iran are so large, so complex, so interconnected, that their distress or failure could pose a threat to the entire global Financial System. You may be private companies, but the risks you take and the mistakes you make dont just affect you, they dont even just affect your customers, no
Bringing housing and affairs will come to order. Thank you from our eight witnesses today. Senator, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systemically important banks of the United States of america, your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in our country. You hold nearly half the nations deposits, more than 80 trillion in client assets, your banks touch almost every aspect of our Financial System and working americans money, even if they are not your customers. All of that makes you eight of the most powerful people in the country, the banks iran are so large, so complex, so interconnected, that their distress or failure could pose a threat to the entire global Financial System. You may be private companies, but the risks you take and the mistakes you make dont just affect you, they dont even just affect your customers, no
Bringing housing and affairs will come to order. Thank you from our eight witnesses today. Senator, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systemically important banks of the United States of america, your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in our country. You hold nearly half the nations deposits, more than 80 trillion in client assets, your banks touch almost every aspect of our Financial System and working americans money, even if they are not your customers. All of that makes you eight of the most powerful people in the country, the banks iran are so large, so complex, so interconnected, that their distress or failure could pose a threat to the entire global Financial System. You may be private companies, but the risks you take and the mistakes you make dont just affect you, they dont even just affect your customers, no
Goldman sachs, wells fargo. Senate Banking Committee oversight hearing is about 3 hours. Senator scott, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systematic banks in the United States of america. Your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in the country. You hold nearly half of the nations deposits, more than 80 trillion in client assets. Your banks touch almost every aspect of our Financial System in workingamericans money even if they are not your customers. You may be private companies but the mistakes you make dont just affect you, they dont even affect just your shareholders or just your workers, the mistakes you make affect the whole economy and as we remember from 2008, 2009 they can certainly affect american taxpayers. That amount of enormous power should also come with enormous responsibility. We finally have financial w