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November 15, 2013

Warren Questions Fed Chair Nominee Janet Yellen on Failure to Regulate Big Banks 
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Janet Yellen, President Obama's nominee to head the Federal Reserve,
faced questions at a Senate confirmation hearing Thursday. Yellen has
been the Fed's vice chair since 2010. She defended the Fed's economic
stimulus program, praised outgoing Chair Ben Bernanke and responded to
questions from Massachusetts Sen. Elizabeth Warren about the failure to
regulate big banks.

Sen. Elizabeth Warren: "Do you think that the Fed's lack of attention to
regulatory and supervisory responsibilities helped lead to the crash of
2008?"

Janet Yellen: "You know, I think in the aftermath of the crisis we've
gone back and tried to look carefully at what we should have been done
different — what we should have done differently, and there have
been important lessons learned."

 

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