Bernanke Says Low Rates Did Not Cause Housing Bubble

Fed Chairman Ben Bernanke is still in denial that he had anything to do the poor condition of our economy. He stated today at the American Economic Association’s annual meeting that “the best response to the housing bubble would have been regulatory, rather than monetary.”

Bernanke still doesn’t make the connection between low rates and the housing bubble. Instead he calls for more regulation, regulation which “must be better and smarter.” The way I see it, this is just another way Bernanke is trying to solidfy his role as the Fed Chairman. This is just more brainwashing the public into thinking we need the Fed and without it the economy would collapse.

Article from Bloomberg.com.

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