- William Poole: Nine years ago an oblivious Fed had to bail out Bear Stearns, which had invested in risky mortgages
- Poole says there are again signs that subprime mortgages are a problem and the Fed isn't paying enough attention
William Poole is senior fellow at the Cato Institute and distinguished scholar in residence at the University of Delaware. He retired as president and CEO of the Federal Reserve Bank of St. Louis in March 2008. The opinions expressed in this commentary are his own.
(CNN)The Federal Reserve bailed out Bear Stearns on March 14, nine years ago. What has the Fed learned from that mistake? Not enough, perhaps.