Wadhwani scolds central banks for reluctance to say sorry

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Sushil Wadhwani, a former member of the Bank of England's Monetary Policy Committee (MPC), on Wednesday reprimanded the Bank and the Federal Reserve for refusing to accept the flaws of their pre-crisis monetary policy stances.

Wadhwani told the audience at a London School of Economics conference: "What's puzzling to me is that there has been so little repentance. Moving to leaning against the wind hasn't happened yet."

"The Greenspan put, the asymmetry of monetary policy, was a very important ph

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