Follow @jentaub To address the 2008 financial crisis, congress passed the Troubled Asset Relief Program (TARP) to bailout out the banks and the federal government committed trillions of dollars to save the entire system. Fed chairman Ben Bernanke defended the massive government intervention to rescue the banks. He said, “it wasn’t
Follow @jentaub The United States is still struggling to understand and recover from the financial crisis that flared up in 2007-8. The story of the housing market, subprime mortgage lending practices, and the mistakes responsible for the crisis is both complex and essential to understand in order to avoid repeating.
Ben Bernanke will take over next week as Chairman of the Federal Reserve for Alan Greenspan, who is stepping down on Tuesday after more than 18 years on the job. “An extraordinary act to follow,” says Princeton Professor Alan Blinder, the Fed’s Vice Chairman under Greenspan in the mid-1990s, on