03/31/2008: Blueprint for a Modernized Financial Regulatory Reform released by Secretary of the Treasury Hank Paulson arguing for broad new sweeping powers for Treasury Department.
Thanks!! I heard about this one but never got to watch. A shock that someone like Sanders got it right for once! Partial transcript:
My question to you is, will you tell the American people to whom you lent $2.2 trillion of their dollars? Sanders asked, referring to the size of the Feds balance sheet.
[T]he central bank chairman replied, No, and started to say that doing so risked stigmatizing banks and discouraging them from borrowing from the central bank.
Isnt that too bad, Sanders interrupted, cutting him off. They took the money but they dont want to be public about the fact that they received it.
Do you have to be a large, greedy, reckless financial institution to apply for this money? he[Sen. Sanders] asked.
Sanders responded: Let me just say this, Mr. Chairman. I have a hard time understanding how you have put $2.2 trillion at risk without making those names available, those institutions public.
It is unacceptable to me that that this goes on, he added.