Mike Kennedy
Elite Member
- Joined
- Sep 28, 2003
- Professional Status
- Certified Residential Appraiser
- State
- New York
Associated Press
Bernanke: Shut down banks if they threaten system
Associated Press, 09.02.10, 09:23 AM EDT
WASHINGTON -- Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.
"If the crisis has a single lesson, it is that the too-big-to-fail problem must be solved," Bernanke said Thursday while testifying before the Financial Crisis Inquiry Commission.
The Fed chief said bailing out these institutions is not a healthy solution and that great improvement will come from the new financial overhaul law. It empowers regulators to shut down firms whose collapse pose a broader threat to the system.
http://www.forbes.com/feeds/ap/2010/09/02/general-us-financial-crisis-bernanke_7897986.html
Bernanke: Shut down banks if they threaten system
Associated Press, 09.02.10, 09:23 AM EDT
WASHINGTON -- Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.
"If the crisis has a single lesson, it is that the too-big-to-fail problem must be solved," Bernanke said Thursday while testifying before the Financial Crisis Inquiry Commission.
The Fed chief said bailing out these institutions is not a healthy solution and that great improvement will come from the new financial overhaul law. It empowers regulators to shut down firms whose collapse pose a broader threat to the system.
http://www.forbes.com/feeds/ap/2010/09/02/general-us-financial-crisis-bernanke_7897986.html
