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Central Bank Independence and the Role of the Fed: April 2010 Archives

Financial Reform and the Fed

By
Paul Wachtel
on April 1, 2010 7:52 PM | | Comments (0) | TrackBacks (0)

by Kermit Schoenholtz and Paul Wachtel

The Federal Reserve in 2008 and 2009 took many unprecedented actions that helped halt the worst financial crisis since the 1930s. Yet never has the Fed provoked as much scorn and resentment as it did when it bailed out the creditors of Bear Stearns and AIG. The resulting wave of dissatisfaction fostered the greatest effort to weaken the Fed since its establishment nearly a century ago.

For our full op-ed on Forbes.com, go to http://www.forbes.com/2010/04/01/federal-reserve-independence-financial-crisis-opinions-contributors-paul-wachtel-kermit-schoenholtz.html

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About RegulatingWallStreet.com

The Dodd-Frank Act, signed into law in July 2010, represented the most significant and controversial overhaul of the U.S. financial regulatory system since the Great Depression. Forty NYU Stern faculty, including editors Viral V. Acharya, Thomas F. Cooley, Matthew P. Richardson, and Ingo Walter, provide a definitive analysis of the Act, expose key flaws and propose solutions to inform the rules’ adoption by regulators, in a new book, Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance (Wiley, November 2010).

About Restoring Financial Stability

Previously, many of these faculty developed 18 independent policy papers offering market-focused solutions to the financial crisis, which were published in a book, Restoring Financial Stability: How to Repair a Failed System (Wiley, March 2009).

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