Ben Bernanke admitted current law may not prevent too big to fail.

[Richarddbeck]

This is a clip of Ben Bernanke answering question at the Chicago Fed conference. I captured this video at 10:00 am on 5/10/2013

One of the questions was what he thinks about "too big to fail" This is his answer.

Notice the very end where he says current laws may or "MAY NOT" prevent too big to fail. In other words there is nothing to prevent future bailouts of large banks. I believe that printing money to bail out failing banks will cause us all to use our S.H.T.F. skills...

It's time to get ready now.


http://www.youtube.com/watch?v=tK1kYa-ykcg&feature=youtu.be

[NWPilgrim]

Good capture!

What happened in 2008? Some investment banks were allowed to fail and the TBTF banks acquired them or their toxic assets and got even BIGGER. I don't think the Fed or govt has ever said they would get rid of TBTF. They wring their hands about it but pretty much tell us we just got to make sure the TBTF banks are enormously profitable.

[MegaCPC]

I wouldn't piss on Bernanke if he was on fire.

http://i210.photobucket.com/albums/bb146/megacpc/hyperinf_zps11f0bea4.jpg (http://s210.photobucket.com/user/megacpc/media/hyperinf_zps11f0bea4.jpg.html)