We would be delighted if the Congress would pass a substantial resolution regime that would create a set of rules and expectations for how you deal with a firm of this type that is failing and leave the central bank out of it entirely.
Bernanke advocates for Congress to establish clear rules for handling failing firms.
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Lower paid workers, as well as women and minorities, are over-represented in the most affected sectors, and, thus, have borne a disproportionate share of the job and income losses.
Making derivatives safer is very important, part of solving Too Big to Fail and preventing another financial crisis.
Financial risk tends to migrate around regulatory obstacles like a river flows around rocks.
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