For gross negligence, or fraud, or both.
Until quite recently both were yammering about how the economy was fine, there was no real crisis, etc.
Now, suddenly Bernanke fesses up to congress that unless the bailout passes, things are going to get very bad, and the US faces a dramatic crises.
If they didn’t see this coming, given their responsibilities and position, I think this is negligent on their part.
But I believe it’s more likely that they knew, and pretended otherwise. Whatever their excuse, that’s fraud, and they should be held responsible.
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