Bernanke Bullish On Dodd-Frank's Power To Combat Crises

Law360, New York (January 16, 2014, 2:52 PM EST) -- Outgoing Federal Reserve Chairman Ben Bernanke said on Thursday that he was confident the Dodd-Frank Act has sufficiently prepared the U.S. government to handle future financial crises, citing the law’s orderly liquidation authority as a positive measure in addressing the failure of large financial firms.

Bernanke, who spoke at the Brookings Institution, welcomed parts of Dodd-Frank that would prevent some of the Fed’s aggressive interventions in 2008. That includes the act’s amendment of the Fed’s so-called 13(3) provisions curtailing the Fed’s ability to lend credit to...
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