The Irony: Bernanke says more executives should have been prosecuted over the 2008 financial crash.
Adam Pike, News Editor
5 Oct 2015, 11:10 a.m.
In one of the most ironic statements of the year ex fed chair Ben Bernanke said more financial executives should have faced criminal charges over the roles they played in the 2008 economic crisis.
According to Bernanke regulators and law enforcement agencies should have focused more on individuals and not just financial institutions. Considering Bernanke was at the helm of the Federal Reserve for over 2 years leading up to the crisis, surely he has a case to answer.
Unsurprising, Bernanke praised the Fed for their handling of the crisis and believes if the Fed had not intervened the world economy would have entered a 1930’s style depression. Many economists believe the 2008 crisis was caused by the Fed leaving rates too low for too long following the bursting of the dot.com bubble in 2001. With global debt exploding since 2008 and the world economy slowing should Bernanke he held responsible for the next economic crisis.