THE FED: Big Banks Will Not Be Allowed To Fail, Bernanke Says

Why does this scare me...? Is there something we dont know about?
Why would Bernanke make it a point to get this out into the MSM today?
Maybe there are runs on the banks that are being kept quiet...

money.cnn.com...

Federal Reserve Board Chairman Ben Bernanke stressed Tuesday that major financial institutions would not be allowed to fail given the fragile state of financial markets and the global economy.

In a speech in Washington, Bernanke repeated that a sustainable economic recovery will "remain out of reach" until the banking sector is stabilized.

A recovery later this year is not out of the question, Bernanke said.

If efforts by the Fed and the Obama administration can get the banks back to being reasonably stable, "then I think there is a good chance the recession will end later this year and 2010 will be a period of growth," he said.

Added Note: Just to clear things up for those who may not know me well enough yet, the questions I asked at the top of the thread were rhetorical...

That is also why this is posted in the "Other Current Events" as opposed to the Global Meltdown forum.

I posted it here, so we could discuss to the ends of ad nauseum the "conspiritorial" aspect of the FED, Bernanke, and the Banks.

I think this makes for a very boistersous raucous discussion! Cheers!


[edit on 10-3-2009 by burntheships]

The continued viability of systemically-important financial institutions is " vital" to the recovery, Bernanke said in a speech to the Council of Foreign Relations.

"We have reiterated the U.S. government's determination to ensure that systemically important financial institutions continue to be able to meet their commitments," Bernanke said.

Some senior Republican members of Congress, including 2008 Republican presidential candidate John McCain, and even one president of a regional Fed bank, have recently called for the government to pull back from assisting large financial institutions.

They are worried that the government is throwing good money after bad in propping up these troubled institutions, including Citigroup and American International Group (AIG).

"Close them down, get them out of business. We've got to bury some big ones and send a strong message to the market," Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee, said on ABC News over the weekend.

Bernanke's comments could be viewed as a forceful rebuttal to Shelby and McCain, analysts said.

Bernanke said he hopes the view that the market can handle the failure of a systemically important firm is "no longer seriously maintained" given the power of the financial crisis in the wake of the collapse of Lehman Brothers and the government takeover of Fannie Mae and Freddie Mac last September.

"It was the...collapse of banks and other institutions in late 1930 and early 1931 that made the Great Depression great," he said.

money.cnn.com...


On Bernanke's words like magic on the stock market

www.washingtonpost.com...

U.S. stock markets rallied strongly at the morning bell as investors fixated on news that Citigroup had posted profits in the first two months of the year and as Federal Reserve Chairman Ben Bernanke called for a revamping of the financial system.

The Dow Jones industrial average surged 4 percent, or 261 points. The Standard & Poor's 500-stock index was up 4.4 percent, or 30 points, and the Nasdaq composite index climbed 4.7 percent, or 60 points.

More...

www.iht.com...

[edit on 10-3-2009 by burntheships]

I don't trust Bernanke. He's pulling more tricks to accelerate the downfall of the economy. Never trust bankers, never!

I am still trying to figure out why this guy still have a job.

If he hasn't figured out this banking crisis by now, he never will.

reply to post by teklordz


Thank You...I could not have said it better myself! I am very leery of this, also watching China, and the dollar. IMHO There could be some very devious plays at work here!


[edit on 10-3-2009 by burntheships]

Big banks won't be allowed to fail? Sounds like a television commercial for big banks. I bet all the little banks appreciated THAT statement. Well folks, if you do business with a little bank, I'd take this as a cue to switch banks (lol). Man, another irresponsible statement from those that haven't a damn clue what they are doing ... or do they ???

EDITED to add:
Hey, lets prove this guy is wrong. Withdraw all your funds from the big banks today and do business with your little local community bank!

[edit on 10-3-2009 by Divinorumus]

Banks failing, sets off a domino effect that would virtually destroy our economy. If you want to prevent collapse and chaos then you help the banks. Simple as that. It will be a much better outcome than otherwise.

What a comment Bernake makes. In otherwords as horrible as these banks are no matter how much of a burden they are to the people they have immunity to fail because we wont let them. What a disgusting comment.

I want the banks to fail and collapse otherwise nothing is gonna change in America for the better. Things have to get worse before they get better to oust these parasitic bastards that caused this mess in the first place just as they have caused this mess many times in he past. A sad reality but it must happen. People just have to prepare themselves and support one another. I know I'll do whatever iit s in my power to help my fellow man. We all cry for change but many of us are not willing to face the circumstances. This is a beast crying for help and nobody should be gullible enough to fall for it. Let the beast die so we can move on and evolve into better beings.


[edit on 10-3-2009 by disfugured]

Have any of you even watched the ILLUMINATI PROJECT? It's the most crucial information about the banking cartels and their illegal activity, ever! LET FREEDOM RING! THE FOUNDING FATHERS REVOLTED AGAINST ENGLAND FOR THIS REASON! (-Ben Franklin)

Power to the People! We will take our GOLD BACK, now!

O-315

This Citigroup rally is idiocy of the highest order!

"OH WE MADE A PROFIT!" Of course, we didn't post a portion of our losses and we had to borrow money to generate revenue!

What this fat rat call Bernanke is trying to say is that the global elites will not allowed themselves to fail and lose their wealth, even if that means taking over entire nations economy for their own benefit.

As they taste the grounds for this and so far people has been compliant they are planning for the official take over of nations in order to be able to keep their wealth protected.

Bernanke also said that it will be the planning of a Global new Bank to monitor the economy specially the US economy.

So for those that has been talking about the NWO this one will prove to be another step toward that goals.

I think we can all agree now that Bernanke and the banking institutions are MANIPULATING the world's economy to create a one world government.

It's so simple to see the plans. They are psychotic.

reply to post by bobbylove321


Exactly the smug way that this man talks and plans for our nation globally without the permission or consideration of what the citizens of this nation or others have to say about it, is showing that he is above any governments and that his alliances and his masters are above all.

The banks need to be allowed to fail but, unfortunately, they will get nationalized. Having a free market economy without the fear of bankruptcy is the same as having Christianity without the fear of hell. IT DOES NOT WORK!

No only that but with an unlimited money pot call the US tax payer and a source of printing bills in the treasury department.

I think we really has lost this nation already.

The so call nationalization is nothing that the front put up by the global elites to gouge the tax payer with the excuses that is all from the government.

reply to post by burntheships


The something you don't know about is that the Federal reserve bank has been in the driver seat since they opened it. We had debt up to our eyeballs (from them of course) after all the wars and growth we had financed with "credit".
The BIG banks can't be allowed to fail because they are aligned with the federal reserve bank and also are the only ones allowed to hand out the government grants to new first time home buyers and families.
Smaller banks are forbidden from using the same grants for their customers. Bank of America for one is the only bank allowed to issue the grants for first time "family" home mortgages.(two kids or more, new home not prefab, not in disadvantaged area. That would move it to the rural housing grants.)
The "to big to fail" means that if they where to fail the federal reserve bank would take one hell of a hit to their pocket books.
Bernake isn't a fool he knows that if we go and short the fed they will make massive marker calls and send us down the drain in one week. They have collectively brought this country to its knees by what they have been planning all of these years. Soon the Queen wont only have 51 countries under her belt she will have 52.

reply to post by xoxo stacie


And very soon a new banking cartel to take care of all of them. As per Bernanke planning.

reply to post by xoxo stacie


Stacie, great comments, and defense of the truth!

Just to clear things up, the questions I asked at the top of the thread were rhetorical...

That is also why this is posted in the "Other Current Events" as opposed to the Global Meltdown forum.

I posted it here, so we could discuss ad nauseum the "conspiritorial" aspect of the FED, Bernanke, and the Banks.

THE FED: Big Banks Will Not Be Allowed To Fail

Translation:

The American people will pay for this..no matter the cost.

Bernanke is trash.

reply to post by David9176


Here here! Applause!!!!!

Do we have curb pick up there in Washington D.C.?