Bernanke predicts bank failures. 2/28/08

Discussion in 'Economics' started by Pilotboy, Mar 6, 2008.

  1. “There will probably be some bank failures,” the Fed chairman told the Senate banking committee in his second day of biannual testimony to Congress.

    He said the banks at risk were “small and in many cases de novo [new] banks that are heavily invested in real estate in localities where prices have fallen”.

    But he said: “I do not anticipate any serious problems” at any of the big banks, which played the most important role in the US financial system.

    http://www.ft.com/cms/s/0/f966fc3c-e647-11dc-8398-0000779fd2ac.html

    You are on record Benny.
     
  2. he's just stating the obvious...