00:00I still have the scars from the 2008 financial crisis.
00:04We all have the scars from the extraordinary efforts that my colleagues and I under Chairman Bernanke's leadership had to
00:11do.
00:12That is not something we want to repeat.
00:14Can you assure us that we need that you will not be bailing out stable coin and cryptocurrency?
00:20So I don't want to I can be more broadly than that.
00:24We do not want to be in the bailout business full stop.
00:27But your predecessor did provide a liquidity function for stable for money market funds.
00:35If, God forbid, we faced a similar circumstance in the crypto world, would you bail them out?
00:41So I I want to be very clear.
00:44We're going to do everything we can to mitigate those sorts of extraordinary risks.
00:51If and when they were to come in the next four years, we want to be in a position.
00:55We're not bailing out anybody, including crypto.
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