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David Wessel, Meet Paul Keating

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Australian Broadcasting Corporation

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Wessel Says Crisis Could've Been Worse, Bernanke a Hero

03 min 48 sec

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David Wessel, economics editor for The Wall Street Journal and author of In Fed We Trust, argues that Fed Chairman Ben Bernanke was one of the biggest heroes during the recent financial crisis. Wessel explains that Bernanke was uniquely suited to handle the crisis, and that while the economy still hasn't recovered, it "would've been worse had he not done the things he did."
David Wessel: Bankers Too Smart for Our Own Good

02 min 58 sec

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Journalist David Wessel jokes that when stupid people ran Wall Street, the economy was in fine shape. "The problem is that all these clever people went into banking, and they started to invent all these fancy products," he says. "And that's when we got into trouble."
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01 hr 03 min 20 sec

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Previous FORAtv comments:

Dnyso

Posted: 09.02.10, 01:36 AM

@Tommy You don't understand: The problem is you are running out of gas. The solution is to get more gas at the next station. So obviously if you step on the accelerator you will get there faster. Obviously.

Tommy Jefferson

Posted: 08.18.10, 07:41 AM

The solution to a credit bubble is to extend more credit. The solution to prevent a Heroin addict from experiencing withdrawal symptoms is to inject ever greater amounts of Heroin, forever. Brilliant reasoning there.