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Tuesday, February 09, 2010 10:00 am |
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SUBJECT: REGULATION OF THE FINANCIAL INDUSTRY INTERVIEWER: ED SCHULTZMR. SCHULTZ: Fed Chairman Ben Bernanke talked about regulation today.
BEN BERNANKE (Federal Reserve chairman): (From videotape.) There's a sense here of, you know, returning to Glass-Steagall and separating these market-making activities from commercial lending. I think that kind of movement would not be constructive. As we know, plenty of firms got into trouble making regular commercial loans, and plenty of firms got into trouble in market-making activity. So the separation of those two things per se would not necessarily lead to stability. ...
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