Internal Charts Show Treasury Agency Assigned to Measure Risk in U.S. Markets Slept through the Repo Crisis of 2019 and the Fed’s $19.87 Trillion Bailout
By Pam Martens and Russ Martens: July 7, 2022 ~ The Office of Financial Research (OFR), a unit of the U.S. Treasury Department, was created under the Dodd-Frank financial reform legislation of 2010. Its job is to prevent, through early warnings, the kind of catastrophic financial crisis that occurred in 2008 when irresponsible and corrupt practices on Wall Street toppled the U.S. economy; brought on the deepest financial crisis since the Great Depression; and left the taxpayer and Fed bailing out the Wall Street megabanks that would have otherwise collapsed from their own hubris. Unfortunately, the OFR was savagely gutted under the Trump administration. Today, OFR is like the cop on the beat that has been stripped of his whistle, his walkie-talkie and is wearing dark sun glasses on a cloudy day. One of the tools that the OFR is supposed to use to warn federal regulators that Wall Street is … Continue reading →
Source: http://silveristhenew.com/2022/07/07/internal-charts-show-treasury-agency-assigned-to-measure-risk-in-u-s-markets-slept-through-the-repo-crisis-of-2019-and-the-feds-19-87-trillion-bailout/
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