Brian Zumhagen has been a weekend anchor at WNYC since 2003. His career in journalism started in 1993, with an internship in the press office of the German Green Party’s parliamentary delegation. Brian went on to spend the rest of the ‘90s working as a reporter, producer, and fill-in anchor at NPR member station KQED in San Francisco. He’s returned to Germany several times over the years for reporting projects. Most recently, he won a grant from the Arthur F. Burns Fellowship to produce radio features for the 20th anniversary of the fall of the Berlin Wall. Before coming to WNYC, Brian was a frequent contributor to PRI’s The World. He reported for the program on 9/11 and served as the show’s United Nations correspondent during the run-up to the Iraq war. Brian lives in Queens with his wife and children.
Bloomberg: Fed Not to Blame for Financial Crisis
Monday, September 14, 2009
New York, NY —
Mayor Bloomberg says President Obama is taking on an issue that other administrations have ducked: that of reforming and regulating the financial industry. While others, including former governor and so-called Wall Street Sheriff, Eliot Spitzer, have blamed the Federal Reserve for not doing enough, the mayor defended the Fed, saying its hands were tied.
BLOOMBERG: I suspect had the Fed tightened credit in the good old days, they would have have gotten run out of town. Nobody in Congress, or state government, or city government, wanted to stop the expansion that was going on, that we were all participating in and enjoying.
On the CBS Early Show today, Spitzer said in the run-up to the financial crisis, federal regulators like the Fed and the Securities and Exchange Commission failed to use the powers they already had.