Bernanke urges Congress to act now on overhaul
Published: October 23, 2009
WASHINGTON — Federal Reserve Chairman Ben Bernanke is prodding Congress to enact legislation overhauling the nation’s financial regulatory system to prevent a repeat of the banking and credit debacles that had thrust the country into crisis.
The Fed chief says: “With the financial turmoil abating, now is the time for policymakers to take action to reduce the probability and serverity of any future crises.“
He made his comments in prepared remarks to a Fed conference in Chatham, Mass.
Advertisement
Reader Reactions
It’s comforting to know that there will always be folks who take the side of the Wall Street Money Changers.
Now, I am not a rocket scientist or a world-class financial guru, but I would have thought that this overhaul would have been done last spring!
Why are we waiting until after $2 Trillion in Monopoly money is printed and distributed. Kind of like closing the barn doors after the horses have run away.
If we just prosecute Senator Christopher Dodd, Representatives Barney’s Frank and Maxine Waters we won’t have a repeat of our financial collapse.
Did it ever occur to the brain trust to do these things BEFORE the panic? Why all of a sudden is there such urgency? What does he mean by a ‘probability’ of future panics? What is he not telling us? They want people to invest, but they won’t be transparent. Get out - now.
Post a Comment(Requires free registration)
- Please avoid offensive, vulgar, or hateful language.
- Respect others.
- Use the "Flag Comment" link when necessary.
- See the Terms and Conditions for details.
Advertisement