Ben Bernanke and two others win Nobel economics prize over bank research
Former Federal Reserve Chair Ben Bernanke and two others were awarded the Nobel economics prize for their research into how banks operate during financial crises.
“Their analyses have been of great practical importance in regulating financial markets and dealing with financial crises,” the Nobel committee said. Diamond participated in the awards ceremony, and said that while banks are in much better shape now than they were in 2008, the problem is financial crisis can come from anywhere. He cited the recent problems the U.K. has had with pension fund investments as an example, though he said it’s probably impossible to eliminate the possibility of them.
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