Responses from the CNBC Debate "Who's in Charge" to the question "have central bankers lost focus and control with respect to economic governance?":
• George Soros, chairman of Soros Fund Management, said central banks had lost control and allowed financial institutions to "run amok."
• Former Treasury Secretary and currentCerberus Capital Management Chairman John Snow credited bankers with "great moderation" in reacting to a period of historically low inflation and interest rates. Actions of the central banks will reduce the impact of any recession and the banks are "on the mark and on the watch," Snow said.
• Larry Summers, former Treasury Secretary and professor at Harvard, said central banks can't bring prosperity and when they make mistakes they can have enormous consequences.