Risk USA: Government inconsistency on rescues deepens crisis

At the Risk USA conference on October 28, Joseph Bench, chief risk officer at IDB Bank in New York, attacked the inconsistent response by the US Treasury, Federal Reserve and other regulators in rescuing some teetering banks and financial institutions while allowing others to fail.

"A lot of measures that the authorities took were not thought through. Look at the conservatorship of Fannie Mae and Freddie Mac. Hundreds of US banks were given tax incentives to invest in their preferred shares

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