The Fed and the Great Depression

It's pretty telling when the current chairman of the Federal Reserve admits (when he was one of the governors) that his organization caused the Great Depression (see the second-to-last paragraph):

"Regarding the Great Depression. You're right, we did it. We're very sorry."

But it's OK: he says they won't do it again. I'm sure he can absolutely protect us from that kind of economic problem in the future -- especially if we give the Fed even more authority.