The Federal Reserve and the Financial Crisis

The Federal Reserve and the Financial Crisis

eBook - 2013
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In 2012, Ben Bernanke, chairman of the U.S. Federal Reserve, gave a series of lectures about the Federal Reserve and the 2008 financial crisis, as part of a course at George Washington University on the role of the Federal Reserve in the economy. In this unusual event, Bernanke revealed important background and insights into the central bank's crucial actions during the worst financial crisis since the Great Depression. Taken directly from these historic talks, The Federal Reserve and the Financial Crisis offers insight into the guiding principles behind the Fed's activities and the.
Publisher: Princeton : Princeton University Press, [2013]
ISBN: 9781400847167
1400847168
9781299051508
1299051502
9780691158730
0691158738
0691165572
9780691165578
Characteristics: 1 online resource (134 pages) : illustrations

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StarGladiator
Dec 23, 2013

In the beginning of the global economic meltdown, beginning in the United States of America, Bernanke was to give testimony on the financial crisis to congress. Before leaving to said testimony, Bernanke had to bring in financial experts to explain to him what credit derivatives, securitizations, rehypthocations, etc., were as Bernanke was clueless on these matters! Bernanke fails to mention how the Fed manipulated interest rates to favor the housing bubble. People, or fantasists, like Bernanke, wish to believe monetary policy is all-controlling and makes up everything, while remaining ignorant of global finance! His essays on the Great Crash and Great Depression are puerile --- ignoring that Andrew Mellon was treasury secretary for three consecutive administrations (no way would FDR keep Mellon on!) and his policies served to tremendously increase the concentration of wealth in America!

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