What Washington needs to do next: Ex-Fed's Posen

 

CentralBanking.com (CB): After appearing to drop the idea, the US administration is now reconsidering removing banks' toxic assets from their balance sheets. Why do you think this is?

Adam Posen (AP): It's legitimate to say that many people, myself included, didn't recognise how bad the balance sheets were. But once you do, it's hard to get away from saying that you have to be more intrusive, that you have to get a toxic assets programme in place and that you have to do it very explicitly.

CB

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.