Rep. Waters: We'll See Where Stumpf's Testimony Takes Us

The transcript discusses the politicization of the Federal Reserve, focusing on Mr. Garrett's unreasonable behavior towards Michelle and his attempts to politicize the committee. It also covers Fed Chair Yellen's response to questions about risk management failures at Wells Fargo, highlighting her regulatory efforts. The conversation delves into the Wells Fargo scandal, questioning the mismanagement and fraudulent accounts. Finally, it explores the accountability and potential consequences for those involved, including job loss and the possibility of breaking up the bank.

What was Mr. Garrett accused of during the committee meeting?

• Being supportive of Michelle

• Politicizing the committee

• Ignoring the Hatch Act

• Providing credible points

How did Fed Chair Yellen respond to the risk management issues at Wells Fargo?

• She blamed the Consumer Financial Protection Bureau

• She promised to increase capital requirements

• She ignored the issues

• She resigned from her position

What was one of the actions Fed Chair Yellen was willing to take regarding risk management?

• Decrease capital requirements

• Increase capital requirements

• Eliminate regulatory changes

• Ignore the management of risk

What is a potential outcome for the Wells Fargo bank mentioned in the discussion?

• It could merge with another bank

• It could expand its operations

• It could be broken up

• It could be awarded for its practices

What is the main concern regarding the Wells Fargo scandal?

• The bank's expansion plans

• The creation of fraudulent accounts

• The bank's marketing strategies

• The bank's customer service