Anat R. Admati, Columnist

Where's the Courage to Act on Banks?

Ben Bernanke and the Fed seem to have missed a key lesson of the financial crisis.

October 12, 2015 at 11:00 AM UTC

Anat R. Admati is the George G.C. Parker Professor of Finance and Economics at the Graduate School of Business, Stanford University, and a co-author of "The Bankers' New Clothes: What's Wrong With Banking and What to Do About It."

One kind of courage.
Photographer: Chip Somodevilla/Getty Images

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In his new book, "The Courage to Act," Ben Bernanke makes a strong case that the U.S. Federal Reserve, under his leadership, acted as necessary in 2008 to pull the country back from the brink of another Great Depression. Unfortunately, he and the Fed also appear to have missed some important lessons from that terrible episode.

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