The Federal Reserve has been criticized for not preventing the risky behavior of large financial companies prior to the financial crisis of 2008-09, for approving mergers that aggravated the too big to fail problem, and for its substantial contribution to bailouts when their risk management...

The Federal Reserve has been criticized for not forestalling the financial crisis of 2007-09, and for its unconventional monetary policies that have followed. Its critics have raised questions as to whom, if anyone, reins in the Federal Reserve if and when its policies are misguided or abusive....

Regulatory forbearance and government financial support for the largest U.S. financial companies during the crisis of 2007-09 highlighted a 'too big to fail' problem that has existed for decades. As in the past, effects on competition and moral hazard were seen as outweighed by the threat of...

Bank supervision typically receives little if any attention when banks are operating without difficulty. But when banks fail in large numbers, or large banks fail, and the system itself is threatened, supervision becomes a focal point for criticism and reform (see, for example, Conference...