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Elizabeth Warren Grills Bernanke on 'Too Big to Fail'

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  • Description

    FBN's Peter Barnes on Sen. Warren's questions to Fed Chief Ben Bernanke.

  • Duration 1:37
  • Date

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Traded right on Capitol Hill with the very latest from the Fed -- -- Peter.

Yeah hey guys you saw this very interesting exchange very pointed exchange between the new member of the banking committee senator Elizabeth Warren -- Massachusetts a big consumer advocate.

And she does not like the big banks she went after Bernanke.

On on whether or not think the the Fed would come in and rescue big banks in the event of another financial crisis cited a study that says right now the markets think that.

And in fact that that the the banks as a result get to borrow to the tune of 83 billion dollars less than they might otherwise without some kind of implied.

-- guarantee.

She was ready were -- questions take a listen.

Even even in the crisis we.

In the cases of AIG for example we we wiped out.

The shareholders.

I ask this you know mr.

chairman you did not wipe out the shareholders of the largest financial institutions stick to the big bank because we didn't have the tools now we could well definitely -- the tools.

83 billion dollars says that.

Whatever you're saying mister chairman 83 billion dollars says that there really will be a bailout for the largest financial institutions if -- No that's that's the expectation of markets but that doesn't mean this we have to do it I think we have to do is solve the problem -- and I think we're really in agreement on this.

And shortly after that Bernanke shot back at her on this study that she was -- saying quote I think that that's one study senator you have no idea if that number is accurate that that.

I think guys -- you.

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