Fed Chairman Ben Bernanke says the central bank shouldn’t just be responsible for the big banks he believes they should have oversight of regional banks as well. “We are quite concerned by proposals to make the Fed a regulator only of the biggest banks … It makes us essentially the too-big-to-fail regulator … We want to have a connection with Main Street as well.”
Bernanke is also saying that the Fed has done some “soul searching” since the financial crisis because they made mistakes. He said they need to change their culture surrounding banks because the crisis was caused by failures in regulation.
No comments:
Post a Comment