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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (126228)	12/3/2009 1:47:33 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 542126

By Rex Nutting WASHINGTON (MarketWatch) -- The Federal Reserve made mistakes that contributed to the recession, but the central bank is learning from its mistakes, Boston Fed President Eric Rosengren said Thursday. In a speech in Boston, Rosengren said the Fed "did not accurately foresee and prevent all the problems" that led to the crisis. "We were far from perfect, but we are doing our best to learn from mistakes," he said. The extraordinary actions taken by the Fed were designed to limit the damage of the financial meltdown and to protect Main Street businesses, workers and consumers from an even-worse recession, he said. Congress should fill in the regulatory gaps to make sure that no large, failing bank will ever again be bailed out, he said. marketwatch.com Learning from their mistakes huh? Wasn't Bernanke the expert on preventing a meltdown? Interesting listening to his testimony this morning. He admitted to having failed at almost every aspect of his job as fed chief. fascinating. steve