Jan 19, 2009

Ben Bernanke: large global banks sound (2008)

I expect there will be some failures. … I don't anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system.

~ Ben Bernanke, Federal Reserve chairman, February 28, 2008

(In September, Washington Mutual became the largest financial institution in U.S. history to fail. Citigroup needed an even bigger rescue in November.)

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