Fed's Kashkari: Wall Street is 'forgetting the lessons of the 2008 financial crisis'
A top Federal Reserve official said Monday that Wall Street and bank regulators run the risk of allowing another financial crisis to occur because many have forgotten the pain from the 2008 meltdown. "The shareholders got bailed out," Neel Kashkari, president of the Minneapolis Fed said. "The boards of directors got bailed out. Management got bailed out. So from their perspective, there was no crisis." Kashkari, long an advocate of more stringent regulations to rein in major banks, told an event at Howard University that US labor groups, whose pension funds took major hits during the crisis, may have a role to ... (full story)
- Posted: Apr 16, 2018 1:57pm
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