Pam and Russ Martens: Fed chairman fails to answer whether Wall Street banks are too big to manage

Section:

8:56p ET Thursday, September 19, 2019

Dear Friend of GATA and Gold:

Systemic risk abounds with the big banks on Wall Street, Pam and Russ Martens write today at Wall Street on Parade, but no journalist at Federal Reserve Chairman Jerome Powell's press conference this week bothered to ask about it, and only one reporter came even close.

Powell, the Martenses write, "pretends that 2008 never happened. Lending came to a frightening halt in 2008 because no one could predict with any clarity which Wall Street bank would fail next as a result of its own high leverage or its exposure to a highly levered borrower like Lehman Brothers."

... Dispatch continues below ...


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Of course GATA long has complained about the critical questions the mainstream financial news organizations won't put to governments and central banks about their surreptitious interventions in the markets.

The Martenses' commentary is headlined "At Press Conference, Fed Chair Powell Refuses to Answer Whether Wall Street Banks Are Too Big to Manage" and it's posted at Wall Street on Parade here:

https://wallstreetonparade.com/2019/09/at-press-conference-fed-chair-pow...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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