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Bernanke likens '08 financial crisis to car crash

By: AP Email
By: AP Email

WASHINGTON (AP) -- In his final public appearance as chairman of the Federal Reserve, Ben Bernanke took a moment to reflect on the 2008 financial crisis and compared it to a very bad car crash.

During an interview at the Brookings Institute, he recalls some "very intense periods" during the crisis, similar to trying to keep a car from going over a bridge after a collision. But after some time, he looked back and said, "Oh my God."

Bernanke admits to some sleepless nights after Lehman Brothers collapsed in September 2008 and triggered the worst financial meltdown since the Great Depression.

Bernanke is stepping down as chairman at the end of the month. He will be replaced by Janet Yellen.


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