Bernanke, Paulson and Geithner discuss the 2008 financial crisis

The three bailed out Wall Street to help Main Street

Former Federal Reserve Chairman Ben Bernanke, Treasury Secretary Hank Paulson and New York Fed President Timothy Geithner reflected on the financial crisis during a forum in Washington, D.C. A decade later, the three officials who helped pull the U.S. out of the financial crisis now struggle with the choices they made, particularly considering that the public still sees the moves as a bailout for Wall Street.

The three spoke during a forum at the Brookings Institution in a talk moderated by CNBC’s Andrew Ross Sorkin, who wrote “Too Big to Fail,” a chronicle of the crisis told from the inside of those who experienced it first-hand.

“We stepped in before the banks had collapsed and we did some things to fix the financial system which are very hard to explain because they are objectionable things,” Paulson said. “In the United States of America there’s a fundamental sense of fairness that the American people have. … You don’t want to reward the arsonist.”

Comments are closed.