📺 Best way to highlight systemic flaws introduced by Cats? #49
Description
Last year, Cats brought to our attention the SRAC series of meetings, and I just finished uploading last year's. Since they don't seem to maintain the official webinar portal, I think our hrefs should use this source.
Standout Moments
- Referenced Rogue Trader (from the OCC letter) at 2:51:00
- Explained how FMUs move FAST at 3:14:10 (emphasized!)
- Collateral and liquidity access at 3:54:00 (crypto use)
In general, the sentiments revolved around a lack of CCP Title 1 resolution authority, leaving the Fed as an exclusive bailouter without the guarantees of operational oversight. Compared to other countries, the FDIC spokespeople freely admit that the U.S. has basically no plan for bankruptcy.