Ben Bernanke: "Explain to your kids what a bankrun is."

[apetersson]

http://www.youtube.com/watch?v=FdDvfCvxIw8#t=1606s

Q: Do you see any events on the horizon that teachers should be aware of and ready to talk with students about?
Ben Bernake: ... You can explain what a Bankrun is.

The whole show the FRB uploaded to youtube is really awkward. Ben Bernanke is posing with teachers to give him some kind of down-to-earth reputation.

A minute later at 29:00 you can see listeners sleeping while BSB goes on with his speech.

[bb113]

34:18

Q:"What are you gunna do to prevent the next financial crisis?"

...laughter

A:"bla, bla, bla... Complex issues, system as a whole, noone ever identifies a problem until it is too late... Make sure that when banks run out of money they can get more to keep the flow of credit going"

Key point at 38:20

This makes no sense other than in the sense of keeping "the system" going. I know he knows better. He is waiting for reliance on "the system" to be reduced to the point at which it is ok if it collapses. Work towards this. Keep it going another 3 years bernanke.