Fed Misread Crisis in 2008, Records Show

http://www.nytimes.com/2014/02/22/business/federal-reserve-2008-transcripts.html


This article goes talks about the huge crisis that happened in 2008 when the Lehman Brothers filed for bankruptcy in 2008 because the Federal Reserve officials thought that by bankrupting Lehman Brothers it would restore a sense of livability on Wall Street.  This past friday the transcripts of the Fed's 2008 meetings were published finally reveling the mistakes of the Fed officials about economic conditions during the climatic moths of the financial crisis.  It is shown on the hundreds of pages of transcripts, based on the recording made at the time and in these transcripts shows that the "officials repeatedly fretted about the over stimulating the economy, only to realize time and again they need to redouble efforts to contain the crisis."