As the House and Senate continue to debate financial reform legislation that could sharply impact the Federal Reserve, the Federal Deposit Insurance Corporation and the accounts receivable management industry, Fed chairman Ben Bernanke is continuing to oppose provisions that would strip the Fed of much of its power.
“Understandably, many people are calling for change,” Bernanke wrote in an op-ed column that appeared in Sunday’s Washington Post. “Yet change needs to be about creating a system that works better, not just differently. As a nation, our challenge is to design a system of financial oversight that will embody the lessons of the past two years and provide a robust framework for preventing future crises and the economic damage they cause.”
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