Quotes About Bernanke

In fact, despite my understated style, I was as aggressive on this issue as on any during my time in Washington.

With Don's and my arrival, the Board was at full strength, with all seven seats filled.

JPMorgan was unwilling on its own to stand behind it.

something that I had been advocating since I arrived at the Fed in 2002. In

Tim's departure would be a significant loss to the Fed.

and stood ready to serve as a lender of last resort if needed.

had been a principal reason behind Citi's pursuit of Wachovia.

which she feared would do more harm than good.

With Bear's securities as collateral, JPMorgan would then lend the Fed's cash to Bear.

Her instincts were too populist for us to see eye to eye on policy, however,

letting Citi go was not an option.

with the intent of ultimately seizing their homes);

Because the loan was effectively for the benefit of Bear,

by making it costly for them to refinance.

As we emphasized at the time, we took those actions not out of any consideration for their shareholders,

that a program of this size and importance should be undertaken with FOMC approval,

Why the support for subprime lending?

had been motivated by the need to act quickly, but, on reflection, I decided that they had a point. At

the results are not impressive.

By March 2010, we would phase out the auctions completely.

The FOMC supported my recommendation, with only Esther George dissenting, as she had all year.

but acknowledged his opposition to the idea.

Greenspan was known for his economic forecasting skills, having run a successful consulting firm,

courtyard. During the crisis I wished more than once that I could skip the office and sit with them for the day.