Bernanke: Shut down banks if they threaten system

[Peacetrain]

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


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.

Bernanke is presenting his analysis of the crisis and views on potential systemwide risks as the panel approaches the end of its yearlong investigation into the Wall Street meltdown.

[notesdev]

1. The hubris of that guy!

Now he's recommending exactly what he refused to do when the chips were down. Why would anyone believe he would support shutting down these banks after shoveling trillions of dollars at keeping them afloatbanker bonuses flowing?