Markets Magazine
Bernanke Meets Buffett in New Role Conceived to Protect Markets
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In November 2009, Senate Banking Committee Chairman Christopher Dodd advanced a radical proposal: to create a super-regulator that would take over most of the bank supervision that had been done by the Federal Reserve System, the Federal Deposit Insurance Corp. and other agencies.
Dodd had been a harsh critic of the Fed and its chairman, Ben S. Bernanke, declaring in July 2009 that the central bank’s supervision of financial services had been an “abysmal failure,” Bloomberg Markets magazine reports in its October 2010 issue.