Federal Reserve Chairman, Ben S. Bernanke termed the bailouts of larger financial companies as morally unacceptable and unconscionable, and said that the policy should not be implemented if the financial crisis is to be repaired.

Addressing the Independent community of Bankers of America, on the Saturday Ben suggested that federal Reserve is a better option for supervising the U. S. financial scenario because it holds the experience of administrating
5,000 bank having companies and 850 state-chartered banks nationally.

Ben stated that it was a matter of concern that world economy is so intensely affected by the affluence of a few massive financial firms and that from this financial dip it should be concluded and should be made sure that the same situation is never faced again.

Senator Christopher J. Dodd initiated the withdrawal of all the responsibilities of the Central Bank in financial reform legislation, which will be taken care by Senate banking committee on Monday.

Specially wanting to magnify the cost that central bank will have to pay for the blunders leading to the financial crisis, Dodd and many other senators have advised Ben to focus on management of monetary strategy along with taking care of the constancy of the system.