The Fed's role in the financial crisis: Jerry Tempelman column
The Fed is loath to admit accommodative monetary policy contributed to the financial crisis.
In his testimony before the Financial Crisis Inquiry Commission in September, Federal Reserve chairman Ben Bernanke pointed to several factors he believes caused or contributed to the recent global financial crisis. Among “vulnerabilities” in the private sector, Bernanke listed maturity and currency mismatches in the shadow banking system, inadequate risk management, excessive financial leverage, and inappropriate use of derivatives. He discussed similar shortfalls among government regulation
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