Bernanke tells crisis panel that the Fed had no power to save Lehman

Ben Bernanke, chairman of the Federal Reserve, told the Financial Crisis Inquiry Commission that the central bank did not have authority to save Lehman Bros. and that he regrets not saying that in a congressional hearing at the time. Bernanke said his previous testimony "has supported this myth that we did have a way of saving Lehman. I regret not being more straightforward there because clearly it has supported the mistaken impression that in fact we could have done something."

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