BUSINESS

Federal Reserve's Past Errors Undermine Its Request For Expanded Authority: NYT

03/18/2010 05:12 am ET | Updated May 25, 2011

If only we'd had more power, we could have kept the financial crisis from getting so bad.

That has been the position of Ben Bernanke, the Federal Reserve chairman, and other regulators. It explains why Mr. Bernanke and the Obama administration are pushing Congress to give the Fed more authority over financial firms.

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