Bernanke Quote

I have been in agreement with John Hussman (http://www.hussmanfunds.com/) that the federal government's biggest mistake is not finding a place to operate large firms that pose systemic risk to the economy somewhere between solvency and bankruptcy. Federal Reserve Chairman Ben Bernanke recently recognized this:

"If a federal agency had had such tools on Sept. 16, they could have been used to put AIG into conservatorship or receivership, unwind it slowly, protect policyholders, and impose haircuts on creditors and counterparties as appropriate."