In his opening statement, Fed Chairman Ben Bernanke made the case for legislation–soon to be introduced by the administration on the hill–that would create guidelines and authority for the government to take non-bank financial institutions (like, say, Lehman Bros. and AIG) into conservatorship or receivership. Bernanke said:
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=144614