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Time to Do Something About 'Too-Big-to-Fail' Banks


Time to Do Something About 'Too-Big-to-Fail' Banks

Nomi Prins

A Wall Street Journal survey this week found that a majority of economists back the idea of Federal Reserve Chairman Ben Bernanke sticking around for another term. Their support hinges on the belief that Bernanke averted a larger economic catastrophe with his actions last fall.

Indeed, last month, Bernanke extolled the Fed's aptitude in handling the financial crisis during a town-hall meeting with PBS' Jim Lehrer, claiming that the Fed had no choice but to save the banks in the manner it employed.