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IPFS News Link • Federal Reserve

Bernanke Says Fed Doesn’t Want to Be ‘Too Big to Fail’ Overseer

• By Craig Torres & Joshua Zumbrun,
March 17 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said the central bank shouldn’t be relegated to the role of regulating only the largest financial firms, as proposed by a draft bill in the Senate. “We are quite concerned by proposals to make the Fed a regulator only of the biggest banks,” Bernanke told the House Financial Services Committee today in response to a question. “It makes us essentially the too-big-to-fail regulator. We don’t want that responsibility.”