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C-Suite, Financial Regulation, Wall Street

When Bernanke says don’t worry, it’s time to worry

By Sean McMahon on June 23rd, 2011 | 11132 comments on this post2011-06-23+19%3A41%3A25Sean+McMahon

Federal Reserve Chairman Ben Bernanke said Wednesday a default by Greece won’t have a serious negative impact on U.S. financial institutions. He conceded a Greek default would “no doubt roil financial markets globally,” but that such a default would do little damage to U.S. banks and money-market mutual funds. Billions of dollars worth of complex derivatives would be affected by a default by Greece, and Bernanke would have us believe U.S.[…] Continue Reading »