ELFA's Bentsen weighs in on balancing Fed's power:

06/18/2009 | AmericanBanker.com (subscription required)

Policymakers are trying to balance the Federal Reserve's ability to act in a crisis without giving it too much authority. One proposal calls for creating a systematic-risk council that would give the government power to resolve issues at important institutions, thereby minimizing the Fed's need for emergency powers. "That way, you don't hamstring the Fed's ability to act in a crisis, but you add the political component that needs to be there," said Kenneth Bentsen, ELFA's president and chief operating officer.

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