Mises Wire
Author:
Tho Bishop
Online Publish Date:
, Robert Kaiser detailed Bernanke’s warnings to lawmakers: Paulson understood the mission. His chief of staff, Jim Wilkinson, a veteran of the Bush White House staff, ignored was that it was the Fed’s inconsistent policy of bailing out AIG, and failing to do so with Lehman Brothers, that created greater uncertainty in the about the failure of large banks , and the failures of such “too big to fail” firms would have brought with it less consolidation within the banking industry