The chairman of the Federal Reserve, Ben S. Bernanke told skeptical lawmakers on Thursday that the Fed should be put in charge of regulating the nation’s biggest financial institutions.

But in a nod to critics who have expressed alarm about the Fed’s immense power during the financial crisis, Mr. Bernanke said responsibility for monitoring broader risks in the financial system should go to a council of regulators.


tvsterling at 07:25 2009-10-02 said:
The FED shouldn't be in charge of a nickel gumball machine. It needs to be placed under the Treasury, firmly subordinated. The bit about how well they protected the consumer is a real laff riot. Bernanke should write jokes for Letterman. Permalink

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