In a speech before the House Financial Services Committee today, Federal Reserve Chairman Ben Bernanke threw his support behind President Obama’s proposals to reform the financial regulatory system, according to CNNMoney. Bernanke spoke on the value of risk assessment for financial regulators, saying, “To further encourage a more comprehensive and holistic approach to financial oversight, all federal financial supervisors and regulators—not just the Federal Reserve—should be directed and empowered to take account of risks to the broader financial system.” Bernanke approved Obama’s proposed consolidation of the financial regulatory system, saying that that such a unified group would be “well suited” to address risk issues.
Bernanke Lends Support to Obama Regulatory Reforms
Ben Bernanke says that his agency supports the Obama administration’s approach to consolidated risk oversight.
October 1, 2009