Hey, welcome to Current Yield, the Grant's Interest Rate Observer Podcast.

I am Jim Grant, and with me, as always, Eric Whitehead at the Dials.

The great Evan Lorenz, deputy editor of Grants, and with us today are guest Chris Whalen,

who, well, he's, Chris Whalen is a formidable

McTavish in his own right, but I think of him as the, another way. He's a son of Richard J. Whalen,

who was the author of one of my favorite American biographies, founding father about A.F. Kennedy's

father. So Chris is, I don't know, he's many things. He's a commentator, investment

bankery, he's a student of banking and of deep finance. He was with the Kroll Rating outfit. He was

with the Fed. He was with the Republican Conference Committee in the House. He was Bear Stearn.

Anyway, he's been all of it. And if he is not the president of the Federal Reserve Bank of North, it's no fault of mine

because I put you up for that.

Well.

It should have happened, but it, uh, anyway, don't blame me, Chris, because I thought my letter was

I don't.

I love the institution.

It would have been great to go back there.

Well, I'm not talk yourself out of it. When they need someone who understands financial markets, you know, as McChesney Martin said,

keep the experts on tap, but not on the top.

Yeah, well said, Chesney.

Hey, Chris Whalen, it is often said, in fact, I dare say you have heard others say it,

that our Dodd and Frank banks are as safe as a house now,

that there is really no, if there's risk in the system, it's not in the banks, we affixed them.

...