WKYT | Lexington, Kentucky | News

Bernanke likens '08 financial crisis to car crash

WASHINGTON (AP) - In his final public appearance as chairman of the Federal Reserve, Ben Bernanke took a moment to reflect on the 2008 financial crisis and compared it to a very bad car crash.

During an interview at the Brookings Institute, he recalls some "very intense periods" during the crisis, similar to trying to keep a car from going over a bridge after a collision. But after some time, he looked back and said, "Oh my God."

Bernanke admits to some sleepless nights after Lehman Brothers collapsed in September 2008 and triggered the worst financial meltdown since the Great Depression.

Bernanke is stepping down as chairman at the end of the month. He will be replaced by Janet Yellen.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 240579621 - wkyt.com/a?a=240579621
Gray Television, Inc.