The American Enterprise institute. We have a very interesting policy session entitled, how has a decade of extreme Monetary Policy changed the Banking System . We have a panel of experts, but before we introduce them let me set the stage. The financial crisis changed the Banking System. Resolutions that happened in the crisis integrated commercial and investment ranking like never before. Createdsolutions todays too big to fail institutions. The fed became the lender of first resort instead of the lender of last resort. Temporarily nationalized the Banking System in congress. Assed the dodd frank act it gave regulators extensive new powers and responsibilities over the Financial System. Deposit insurance limits increased by factor of two and a half. Triggeredope recovery fed stimulus which created massive bank reserves, which required new fat operating procedures. This morning we will discuss all these changes with a panel of experts. And instead of me introducing the panel, i am going
Experts who well introduce you to in a minute. But before that, let me just set the stage here. As you all know, the financial crisis changed the Banking System. The resolutions that happened in the crisis integrated commercial and Investment Banking like never before. These resolutions created todays too big to fail institutions. The crisis led to greatly expanded fed emergency liquidity support. The fed became the lender of first resort instead of the lender of last resort. T. A. R. P. Temporarily nationalized the Banking System, and the Congress Passed the dodd frank act to extend post t. A. R. P. Control over the system. It gave regulators extensive new powers and responsibilities over the Financial System. Deposit insurance limits increase by a factor of twoandahalf, and the slow recovery triggered fed qe stimulus, which created massive Bank Reserves, which required new fed operating procedures. So this morning, were going to discuss all these changes with a panel of experts. And
First things first, id like to welcome beth to the Manhattan Institute where shes recently become a fellow. Prior to joining us, she was a fellow at the Brookings Institution center on children and families, and before that she was a taffe economist staff economist at the president s council of economic advisers and worked extensively on Higher Education policy. Second, id like to welcome beth back to new york. Beth received her ph. D. In math excuse me, her b. A. In math and economics from cunyalbany and her ph. D. From columbia university. Beths here to talk about her book, game of loans. Recently published by Princeton University press and written with matthew of the urban institute. So after reading beths book, i can assure you shes going to fit right in at the Manhattan Institute [laughter] where the scholars really delight in debunking poorly argued narratives in the press and the public debate. And beths book does just that. Its a timely corrective to the wildly exaggerated stud
First things first, id like to welcome beth to the Manhattan Institute where shes recently become a fellow. Prior to joining us, she was a fellow at the Brookings Institution center on children and families, and before that she was a taffe economist staff economist at the president s council of economic advisers and worked extensively on Higher Education policy. Second, id like to welcome beth back to new york. Beth received her ph. D. In math excuse me, her b. A. In math and economics from cunyalbany and her ph. D. From columbia university. Beths here to talk about her book, game of loans. Recently published by Princeton University press and written with matthew of the urban institute. So after reading beths book, i can assure you shes going to fit right in at the Manhattan Institute [laughter] where the scholars really delight in debunking poorly argued narratives in the press and the public debate. And beths book does just that. Its a timely corrective to the wildly exaggerated stud
Trumps presidency has established terms of battle likely to persist. Continue to indefinitely. Size up those terms of battle. Lets begin there. Terms of battle that are likely to continue indefinitely. Size up those terms of battle. Dan well, its an extension of the campaign that we went through, charlie, and i think that everything that has happened since the election through the transition and particularly in the opening weeks of the Trump Presidency have reinforced the divisions that we saw in the election. Donald trump has come to washington determined to shake it up. He promised that he would do that in the campaign. Im not sure everybody took him as seriously as they should have but hes determined to do that in his opening weeks. All of his moves in part are designed to send the signals that hes going to keep the promises that he made in the campaign, that hes going to offend the establishment. He will be true to the people he knows put him in office. He will alarm a lot of peopl