|  | | 2008 News and Press Releases | | |
HEADLINE NEWS:
Duh: Bernanke Says He Erred In Gauging Fallout From Subprime Mess
Staff Writer
FinancialWeek. November 24, 2008
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EXCERPT: Federal Reserve Chairman Ben Bernanke acknowledged that he underestimated the fallout that the subprime mortgage crisis would have on broader financial sector, according to an article in the latest edition of The New Yorker magazine. “I and others were mistaken early on in saying that the subprime crisis would be contained,” Mr. Bernanke said in an article in the December 1 issue of The New Yorker. “The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict,” he said, according to the report… |
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