How Ben Bernanke saved Europe's banks (The Globalist)

12.05.2013 18:24

www.theglobalist.com/StoryId.aspx?StoryId=9994

The collapse of the U.S. housing market in 2007 almost took Europe down with it. Only through massive — albeit quiet — intervention by the U.S. Federal Reserve were the European banks spared the worst. In this excerpt from his new book, "The Alchemists: Three Central Bankers and a World on Fire," Neil Irwin explains how it played out.