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Economy
The Bernank Says He is Blameless for Global Financial Disruption
2011-02-19
Federal Reserve policy isn't to blame for the steep inflation and other woes affecting developing nations, the central bank's chairman, Ben S. Bernanke, said Friday as he tried to rebut a rising chorus of criticism of the Fed's easy-money policies from abroad.
On 27 March 2007, a few months before all hell broke loose, The Bernank testified before Congress that he thought the current problems in subprime home loans were 'contained'. He'll never live that down.
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