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It may have been fueled by Wall Street documents were private meeting showing the push for action was McDonald's here with more on -- story to tell us about.
This meeting don't always have these meetings list.
Others regular meetings between Wall Street and the Federal Reserve and the and the treasury but this is seeing an independent advisory panel staff with Wall Street.
Executives that was launched after the financial crisis.
They met with William Dudley who runs a New York fed they met with him in September the Wall Street Journal has the story this morning.
Basically gonna see here the executives who met with them our top players on Wall Street in take a look at here we got Kate -- Anderson.
Who's with Soros Fund Management David -- was also at the meeting.
You gonna see also Mohamed -- -- -- with Pimco.
And also a Peter Fisher a BlackRock the top executive that KKR also was at the meeting and what happened Cheryl was -- and we've been in touch with the New York fed.
The New York fed sent about a half a dozen ideas are presented on how to fix -- European crisis at that time.
The executives who worried about a default in Greece so the ideas -- that were bandied about word -- they were basically talking about having the Central Bank guarantee.
Not just bank debt but government debt and also basically guaranteeing more the way bank deposits over in Europe.
And also getting the Central Bank to help recapitalize even the I and -- that -- to the New York -- -- of fed has given us this statement on those.
They effectively said that William Dudley basically -- listen and all licences we are listening mode we take great care to -- subjects and questions in neutral manner that does not provide insight into our own thinking and we are careful to keep in mind.
That their comments may sometimes reflect their own firm's interest so Cheryl this is an interesting story that we're gonna continue to watch back to you.
Alyssa equipment for just a moment Dennison Robert here with -- -- -- rob you know.
The points here -- and he's a regular meetings that they have.
Is that the that -- that they could make investment decisions based on a what they hear from the Fed are that they put undue pressure on the Fed have undue influence you think that's a problem.
Well it is hard to say what's going on behind closed doors but I think it's important for the Fed actually listen to these guys because they are the troops on the ground they know what's going on.
And they need to heed this warning so I think I mentioned that the discussion.
Took on a very serious tone and and concern for all of the contagion problem we have in the US of it was a would've done it.
I'm certainly Occupy Wall Street guys are just gonna take this -- -- -- -- -- terrible crony capitalism -- meeting behind closed doors you know what I think investors ought to be really.
Happy and encouraged that the Fed listens to big guys on Wall Street and listens to what they're saying about what's going on markets the tightening of credit all I kind of think.
They should be in touch and they should have those meetings and it's a good thing that I think -- Right but not yet but you've you've picked it up exactly that Dennis the Occupy Wall Street crowd if you will -- 9%.
They're gonna tell you that they shouldn't be having this discussion has -- I don't know what they're talking about they know nothing.
Thing about markets for capital and more -- biggest that they hate them all they're rallying cry -- what do we -- we don't know what we want.
That's the problem that couldn't Robin you're sitting there with the federal which is -- it and if you run an advisory.
Well I I you know I would love -- -- the privileged information they have but I think he made the right choice here on to increase liquidity.
I -- and I think it's with very little risk if any at all time lows -- it's a great story we appreciate you you're joining us for the -- aren't with.