2008 transcripts show Fed desired more control over Wall Street

02/23/2014 | Reuters

Federal Reserve transcripts reveal that the central bank wanted more authority over Wall Street in exchange for rescuing investment banks during the financial crisis. "I am just a little worried about being taken advantage of here," Federal Reserve Bank of Dallas President Richard Fisher said in a March 2008 conference call. "The question is, what do we get in return, and how do we make sure that, since we are not the regulator of these dealers, there is indeed discipline?"

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