US Federal Reserve chairman Ben Bernanke: Financial crisis was like a car crash
IN HIS final public appearance as chairman of the US Federal Reserve, Ben Bernanke said the 2008 financial crisis was like a very bad car crash.
IN HIS final public appearance as chairman of the US Federal Reserve, Ben Bernanke said the 2008 financial crisis was like a very bad car crash.
During an interview at the Brookings Institute, he recalls some "very intense periods'' during the crisis, similar to trying to keep a car from going over a bridge after a collision. But after some time, he looked back and said, "Oh my God.''
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Bernanke admits to some sleepless nights after Lehman Brothers collapsed in September 2008 and triggered the worst financial meltdown since the Great Depression.
Bernanke is stepping down as chairman at the end of the month.
He will be replaced by Janet Yellen.
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