Home | About | Donate

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


#1

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.