CNN Fareed Zakaria GPS June 4, 2024 14:12:00
System, which they did in 2008. instead, it left them with the power acting in concert with the fdic and the treasury to -- if they find a systemic emergency, to guarantee the deposits of entity by entity, bank by bank, 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 and the implication is that they will use that authority that they have but they can't announce that in advance and they can't declare it. but they've come as close as they possibly can to do it. but they don't have the...