Government ignorance is no excuse for another dreadful financial crisis | TheHill


Last Sunday’s New York Times featured an article by Ben Bernanke, Timothy Geithner and Henry Paulson, the three former government officials who were major government financial policymakers before and after the 2008 financial crisis.

The article was intended as a retrospective view of the crisis, which the authors called a “classic financial panic.”

It was unnerving, however, to realize that these three important officials — charged with keeping the economy stable while they were in office — still have no idea what caused this disastrous event.

“Although we and other financial regulators did not foresee the crisis,” the authors write, “we moved aggressively to stop it.”

Source: Government ignorance is no excuse for another dreadful financial crisis | TheHill

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