America's new banking crisis; the hazard of Silicon Valley culture; fury in France over Macron's retirement reforms
Fareed Zakaria GPS
00:00
Is the Federal Reserve Really a Bailout?
The government partly is a result of the reforms. The theory, whether it was a good reform or a poor reform, took away the power of the Fed to just give issue a blanket guarantee in 2008. I think what we heard from the Fed that in this moment, this fragile moment, they are implying that they will regard any event or any run on a bank as systemic.
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