Do You Think FDIC Has Too Much Wiggle Room?

After Dodd-Frank, there was a lot of chatter from Ben Bernanke about how the Federal Reserve's emergency lending authority had been restricted. "I said, all that we've done here with Dodd-Frank is we've given everybody political cover," he says. The argument about systemic risk is actually not as strong as you might otherwise think,. That's true. It's very difficult to make that case right now.