Video: Regulatory Insights from Eliot Spitzer
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Former New York Governor Eliot Spitzer recently joined NYSSA for an interview with Bloomberg Television anchor, Pimm Fox. Spitzer gave his observations and opinions about the top regulators of the current economic recovery effort—Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke.
On Ben Bernanke:
- Bernanke is "the last man standing." He is the only one who has been willing to make the hard economic decisions as policymakers have remained in gridlock.
- He has used monetary policy to the fullest extent, but now there is little more that he can do.
On Timothy Geithner:
- Geithner did not have an adequate understanding of the structural failures that existed in the financial services sector.
- After the financial crisis of 2008, Geithner did not request enough from the banks in return for being bailed out. He simply did not comprehend how much reform was actually needed.