Business Standard

Ex-policymakers worried about US' ability to combat next 2008 like crisis

While agreeing that the banking system is stronger than 2008, Ben Bernanke, Timothy Geithner, and Henry Paulson saw some weak spots in the US's crisis-fighting arsenal that didn't exist a decade ago.

US economy, US job growth, dollar
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A customer counts his cash at the checkout lane of a Walmart store in the Porter Ranch section of Los Angeles, US | Reuters

Rich Miller
Federal Reserve policy makers appear confident that they have the weapons they’ll need to fight the next financial crisis. Some of their predecessors on the front lines are not so sure.

Ben Bernanke, Timothy Geithner and Henry Paulson all voiced varying degrees of concern about America’s ability to combat another financial meltdown 10 years after they played prominent roles battling the last one.

While agreeing that the banking system is a lot stronger than it was back then, they saw some weak spots in the country’s crisis-fighting arsenal that didn’t exist a decade ago. The trio also decried the nation’s ballooning budget

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