Bernanke: Shut down banks if they threaten system

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.

I wonder how difficult it was for him to say this and keep a straight face? I don’t think I could have done it and I’m only vaguely educated on the subject.

I think many of us here know that Bernanke’s comments are ironic since the Federal Reserve is the largest failed institution that threatens to bring down the whole financial system.

WHOLE ARTICLE:
http://news.yahoo.com/s/ap/us_financial_crisis_bernanke

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