Federal Reserve Chairman Ben Bernanke said Thursday that regulators must move ahead on ways to prevent a future financial crisis from occurring even as they battle one that threatens to plunge the country into recession.“We do not have the luxury of waiting for markets to stabilize before we think about the future,” Bernanke said in a speech in Richmond.
Last month Bernanke, Treasury Secretary Henry Paulson and other top economic policymakers called for stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of the credit and financial problems that have damaged the economy.
The recommendations from the presidential advisory group on financial markets cover mortgage lenders and other institutions as well as investors, credit ratings agencies and regulators.
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