Forum Post: Ben Bernanke: 'I Agree With Elizabeth Warren 100 Percent' On Too Big To Fail
Posted 11 years ago on March 23, 2013, 12:13 p.m. EST by BradB
(2693)
from Washington, DC
This content is user submitted and not an official statement
Lest there was any doubt, Federal Reserve Chairman Ben Bernanke made it loud and clear on Wednesday: The problem of too-big-to-fail banks is still a major threat to the economy.
"Too Big To Fail is not solved and gone," he said during a press conference. "It’s still here."
Bernanke's declaration, made during a press conference on Wednesday, followed what seemed to be a disagreement last month between him and Sen. Elizabeth Warren (D-Mass.) about whether policy makers had solved the problem of U.S. banks being so big that their failure would threaten the economy.
During that conversation, Bernanke seemed to imply that the problem had been solved, suggesting that the Dodd-Frank financial-reform act had given policy makers the tools to wind down a giant bank without hurting the economy -- although his conviction faded as the argument went on. On Wednesday, he wanted it to be known that fully sided with Warren.
"I agree with Elizabeth Warren 100 percent that it’s a real problem," he said.
He also sided with Warren against those banks and others who suggest that having gigantic banks is not really a problem at all.
http://www.huffingtonpost.com/2013/03/20/bernanke-warren-too-big-to-fail_n_2916970.html
Ben Bernanke is a turd sitting in the Road. He is a Regulator that doesn't Regulate. What good is he, except as a shill for TBTF Banks. What good is FINRA except as a Think Tank for Finance Executives. What good is Eric Holder, Except to Obfuscate Justice in the Banking Industry. What good is Tim Geithner except to wipe the ass of Goldman Sachs and JP Morgan.
I would ROTFL - if the comment were not so accurate - as these are in positions of influence.
Right You R. Paul Craig Roberts is saying we have 3 Bubbles. 1) Stock market 2) Government Bonds 3) US Dollar. If the US Dollar bubble breaks our Economy is shot. We will have an Inflationary Depression. My take on that is if all people are out of jobs and money, then the Inflation will disappear ... we would just have crashed economy, few jobs, and a depression.
The US Government can change course, since the US Military is operating out of the Fiat Currency that we keep expanding. Without the currency, then the military can keep growing....
What is really sad - is - that the banksters could be charged prosecuted jailed and be given the Bernie Madoff treatment - without shutting down wallstreet. The TBTF could be broken up and not shutdown wallstreet.
THE FAILURE TO DO THE ABOVE COULD LIKELY CAUSE THE CRASH TO CONTINUE TO THE BOTTOM
LMAO !!!! Oh Ma....I nearly busted a gut!!
I'm getting a little edgy I didn't go to sleep since I slept in yesterday.
I can can hear the edginess! Maybe that's why I find it so funny...I only got two hours sleep last night, lol! Still, maybe edgy isn't such a bad thing. Now get some sleep!!
Hey, R. Who will quit sooner? Jacob J. Lew or Bernanke? John Kerry or John Brennan? Martin Gruenberg Or Mary Jo White?
yep... yet maybe he see's a change is in the works... and is the first to jump ship
Yes, Maybe. Someone was saying that Gibbs the former Public Affairs guy was distancing himself by saying he knew there were Drones, but was ordered to say there weren't Drones. Then there was the Texas Federal Reserve guy Fisher I think... he came out last week saying that TBTF should be broken up.