Ben Bernanke actually said...

The unemployment rate is very high, and it is a tremendous problem, and it obviously means a lot of hardship for a lot of people.

I think living wills, while they are not a panacea, can be a useful adjunct to supervision.

Some of the steps we have taken, like the AIG episode, for example, obviously have hurt the Fed a lot politically.

The belief by market participants that some firms may be too big to fail has many undesirable effects.