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Bernanke says regulatory overhaul needed

Bernanke says regulatory overhaul needed

Federal Reserve Chairman Ben Bernanke says the nation's financial regulatory system needs to be overhauled to strengthen oversight of banks, mutual funds and large financial institutions whose collapse would put the entire economy in peril.
In remarks prepared for the Council on Foreign Relations, Bernanke says "we must have a strategy that regulates the financial system as a whole, in a holistic way, not just its individual components."
The Fed chief's remarks come as the administration of President Barack Obama and Congress are starting to craft their overhaul strategies.


Updated : 2021-03-08 20:31 GMT+08:00