Bernanke, Paulson and Geithner Regret PR Failures of 2008 Crisis

Steve Bannon told New York magazine last month. “There’s a direct correlation between the factories that left, the billets and jobs that left with them, and the opioid crisis.”

…Bernanke spoke about the origins of populism.

“I think the premise of your question is that the current dissatisfaction, populism, the remaining obvious economic problems are all traceable back to the financial crisis. I think that’s a wrong premise,” said Bernanke. “The financial crisis didn’t help, obviously. We know historically that financial crises tend to proceed increases in populist politics. But people have been saying the country has been going in the wrong direction for forty years.”

Citing “a very long period” of slow wage gains, rising inequality and concerns over immigration, Bernanke explained that “a whole gambit of things” was responsible for the rise of populism.

…Paulson also lamented the obstacle of justifying $700 billion in Wall Street bailouts secured through the Emergency Stabilization Act—a controversial measure taken to avoid global anarchy which remains a rallying cry with both right-wing and progressive populists even ten years after the financial crisis.

Bernanke, Paulson and Geithner Regret PR Failures of 2008 Crisis | Observer



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