Senate Banking Committee Ranking Member Elizabeth Warren sent a letter to Federal Reserve Chair Jerome Powell requesting copies of all records produced or received by former Federal Reserve Governor Kevin Warsh during 2006–2011, including records related to the Federal Reserve’s 2008 crisis-era bailouts. The letter also seeks a copy of the ethics waiver Warsh was granted to deal with Morgan Stanley directly, and frames the request as relevant to the committee’s review of his nomination to serve as the next Fed Chair. The letter cites concerns about Warsh’s handling of risks in the lead-up to the financial crisis and his involvement in major interventions, including the Federal Reserve’s $28 billion support tied to JPMorgan’s acquisition of Bear Stearns, the rapid conversion of Morgan Stanley and Goldman Sachs into bank holding companies to access emergency lending, and the $85 billion bailout of AIG. Warren also notes she has previously sought answers from Warsh on other matters, including his views on Department of Justice actions targeting Fed officials, any relationship with Jeffrey Epstein, and whether a loyalty pledge was requested as part of his potential appointment. Warren requested the Federal Reserve provide the materials by April 24, 2026.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-04-15
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member requests Federal Reserve records on Kevin Warsh’s 2006–2011 tenure and 2008 bailouts
U.S. Senate Banking Committee Ranking Member Elizabeth Warren has asked Federal Reserve Chair Jerome Powell for all records produced or received by former Fed Governor Kevin Warsh from 2006–2011, including documents on the Fed’s 2008 crisis interventions and the ethics waiver allowing Warsh to deal directly with Morgan Stanley. The request, tied to the committee’s review of Warsh’s potential nomination as Fed Chair, cites concerns over his role in actions involving Bear Stearns, Morgan Stanley, Goldman Sachs, AIG, and previously unanswered questions.