A Council of U.S. regulators -- rather than the Federal Reserve alone -- should be charged with monitoring threats to the U.S. financial system, Fed Chairman Ben Bernanke said in prepared testimony to be delivered to a congressional panel Thursday morning.
The Council of Regulators would me modeled after Iran's Council of Guardians and would be similar in many respects. Bernanke pointed out that there would also be plenty of mullah involved.
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