Tuesday Jun 21, 201111:46 AM GMT
Fed slammed for 'unaccountability, secrecy'
Tue Jun 21, 2011 11:48AM
Share | Email | Print

 

Some critics have lashed out at the Federal Reserve for what they call secrecy and unaccountability.

 

"I think the Fed is not accountable and that's a problem when you have secrecy, and you have unaccountability, you end up with problems," said Mark Weisbrot Co-director of the Center for Economic and Policy Research in Washington D.C.

 

Weisbrot continued, "One example is of course the housing bubble that led to this recession that we have and the unemployment that we still have. That was a huge bubble and it was something that the Feds should have noticed and should have done something about and they didn't."

 

Weisbrot made the remarks in an exclusive interview with Press TV's U.S. Desk on Monday.

 

"And then Ben Bernanke who was at the Feds in 2002 as the governor, became the chairman and that's an example of lack of accountability. That shouldn't have happened, after he missed the biggest asset bubble in the history of the United States," Weisbrot concluded.

 

HA/SM/DB

 

Comments
Add Comment Click Here
  • Latest News
  • Top Hits
© Copyright 2010 Press TV. All rights reserved.