A report from Bloomberg. "Former Federal Reserve Chairman Ben Bernanke acknowledged that policy makers made two critical errors fighting the financial crisis a decade ago: They failed to see it coming with such force then underestimated how much economic damage it would cause later. 'Nobody saw how widespread and devastating the crisis itself would be,' he said in a short video discussing the results of a 90-page paper."

"Mr Bernanke is the second Fed policy maker to issue a public mea culpa this week. Former Vice Chairman Donald Kohn agreed that the central bank made forecasting errors during the crisis and its aftermath. The Fed also over-estimated the potential costs of its controversial quantitative-easing program and so was more timid than needed in carrying it out, he said."

"Echoing comments made last week by former Treasury Secretary Timothy Geithner, Mr Bernanke voiced concern that post-crisis reforms had left the Fed and other policy makers with fewer tools to combat the next crisis. In an effort to prevent future government bailouts, Congress curbed the ability of the Fed, the Federal Deposit Insurance Corp and the Treasury Department to provide emergency support to the financial system."

"While the reforms overall had significantly improved the system's resilience to shocks by boosting bank capital and other measures, 'policy makers need to have the appropriate tools to fight the next crisis,' Mr Bernanke wrote in his paper. 'On this count, I am somewhat less sanguine,' he said."

From Knowledge Wharton. "This week, the world is remembering what is called 'Lehman Weekend.' A decade ago, on September 15, 2008, the giant investment bank filed for bankruptcy, triggering what is now called the Great Recession. Today, 10 years on, lending has become more stringent. Even so, causes for concern do exist, say experts at Wharton and elsewhere. Their biggest source of anxiety is that the government-sponsored Fannie Mae and Freddie Mac, despite being under receivership, do not have deep enough reserves to withstand another crisis."

"Detroit-based Quicken Loans, the country’s largest residential mortgage lender, earlier this year partnered with Airbnb, 'enabling the property rental company’s hosts to use rental income on a primary residence to refinance their mortgages,' according to a press release. 'Airbnb and Quicken Loans are firmly aligned to drive innovation in the real estate industry to dramatically improve and simplify client experience, as well as saving homeowners time and money,' it stated."

"Wharton real estate professor Benjamin Keys notes that nonbanking financial institutions are originating 'a large fraction of loans' and they immediately securitize them to Fannie Mae or Freddie Mac. 'These nonbanks may not be able to withstand a downturn because they have little to no capital buffer, especially in their roles as servicers,' he warns."

"Wharton finance professor Richard Herring says he is concerned about the unintended effects of the prolonged policy of near-zero interest rates. 'It has led to a major distortion of financial decisions…. It has undoubtedly permitted several inefficient firms to continue operations beyond the point they would otherwise have become bankrupt. It has contributed to the rise in stock market values and it has led individual savers to take risks they do not understand to try to obtain a positive, inflation-adjusted return.'"

From Mansion Global on New York. "A four-bedroom apartment in The Dakota, a prestigious Manhattan co-op building that housed the likes of John Lennon, Roberta Flack and Judy Garland, returned to the market for $12.5 million on Wednesday. The home, encompassing approximately 4,600 square feet of living space, has been on and off the market for the past three years. It first asked $17.5 million in September 2015 and the price dropped to $13.245 million before it was taken off the market this July, listing records on StreetEasy show."

"'The price reduction is a market-warranted reset,' said listing agent Nikki Field of Sotheby’s International, who co-listed the apartment with colleague Benjamin Pofcher. 'In order to sell a high-end property like this one, we have to market it with compelling and attractive price points.'"

From Life & Style Magazine. "Finally! Kendra Wilkinson has sold the Calabasas, CA home she once shared with her husband, Hank Baskett, and their two children. The mega-mansion sat on the market for months, but now a new report reveals an offer is pending — following a massive $250,000 price cut. According to Radar Online, the former Girls Next Door star listed the house for $2,495,000 in June before significantly dropping the cost. 'REDUCED AGAIN!' the listing on Zillow read. 'Seller wants an offer.'"

"'I'm trying to get out of my house fast,' the 33-year-old reality star tweeted (then deleted) amid her marriage woes."