U.S. Economy

Economic Policy

Bernanke: too-big-to-fail problem must be solved

Thursday, September 2, 2010

In his testimony before the Financial Crisis Inquiry Commission (FCIC), Federal Reserve Chairman Ben Bernanke spoke out against the too big to fail program, suggesting that the Fed must be ready to shut down large institutions if they threaten to break the financial system. The FCIC is investigating the 2008 financial crisis and the concept of too big to fail. They also heard testimony from former Lehman Brothers chairman and CEO Dick Fuld Wednesday, who blamed government regulators for relying on “flawed information” when assessing Lehman's financial state and allowing the company to go bankrupt.
watch FCIC: Day Two    watch FCIC: Day One

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