WEB Notes: Take careful note of what I underlined below. If the government won’t bailout the “too big to fails” they may be bailed out with your banking dollars… Remember Cyprus?
It is clear why Chairman Bernanke has not expressed enthusiasm about being reappointed as Chairman. In this meltdown of all meltdowns, he has accomplished keeping depositors free from loss or confiscation and temporarily plugged the hole in the OTC derivative meltdown phenomena. Both of these apparently are no longer possible.