Wednesday, 11 March 2009

Bernanke still wants a "dynamic and innovative financial system"

Federal Reserve Chairman Ben Bernanke addressed the Council on Foreign Relations in Washington DC on March 10, 2009 and while there was really nothing surprising in his remarks, for me the most interesting part of the speech was right at the end when he said - "it is unrealistic to hope that financial crises can be entirely eliminated, especially while maintaining a dynamic and innovative financial system."
Sounds like financial engineers can breathe a sigh of relief and also sounds like taxpayers should be ready for another bailout after we get through with this one.

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