Nomi Prins: The U.S. Bank Stress Test Cover-Up
The Federal Reserve gave U.S. banks a thumbs up as all 23 lenders easily pass the 2021 stress test. Best-selling author Nomi Prins says this is "not-so-shocking news... the biggest banks are OK after nearly 13 years of zero interest rate policy." Speaking with our Daniela Cambone, she explains, "the Fed 'only' had to buy $8 trillion of assets with fabricated money along the way. So now Wall Street's given the green light for another round of record-setting buybacks."
Nomi Prins is an American author, journalist, and Senior Fellow at Demos. She has worked as a managing director at Goldman-Sachs and as a Senior Managing Director at Bear Stearns, as well as having worked as a senior strategist at Lehman Brothers and analyst at the Chase Manhattan Bank. Prins is known for her books All the Presidents' Bankers: The Hidden Alliances that Drive American Power