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Why Janet Yellen is very wrong about the banks
Federal Reserve Chairperson Janet Yellen spoke in London on Tuesday and indicated that the financial system was not likely to experience another significant financial crisis in our lifetime. Ms. Yellen is convinced that the actions taken by the Congress and the banking regulators have created a financial system in this country that can withstand significant stress without breaking. If one looks at the banking ratios, Ms. Yellen is making a good case. However, if one assesses the impact of the new rules and regulations on this country, it is clear that the Fed has placed the United States at greater risk of a major ... (full story)
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