Fed begins to focus on preventing next crisis

[RedEarth]

WASHINGTON (MarketWatch) -- Central bankers and regulators are rethinking their faith in the ability of market forces alone to police the increasingly complex global financial system.

In a speech in Jackson Hole, Wyo., Federal Reserve Chairman Ben Bernanke said the Fed's toughest challenge is not restoring growth, fighting inflation, or providing fragile banks with sufficient liquidity to get through the current financial crisis. Rather, it's finding a way to prevent the next one.

http://www.marketwatch.com/news/story/fed-begins-focus-preventing-next/story.aspx?guid=%7BEEE96328-8C6B-4DE2-A61B-5795237E9210%7D&dist=msr_7

[Oceansaway]

1. geeez, sooo soon ?.......n/t

[Andy823]

3. Yep

Only months away from leaving office, and they figure out they need to do something! :spank:

[sharesunited]

2. The so-called next one is just part of the same present one.

[jtrockville]

4. Who knew the Fed would be so willing to come out against McCain?

McCain aka "the next crisis"

[northernlights]

5. hey, they finally figured out

that the "free, unfettered market" leads to boom and bust periods that leave us all worse off. They come all the way forward to about 1929!!!! Progress :dunce: