withdraw their investments. "Additional steps to increase the resiliency of money-market funds are important for the overall stability of our financial system and warrant serious consideration," Bernanke said. During the 2008 financial crisis, the Treasury Department and the Federal Reserve pledged to backstop all money-market funds after one large fund with heavy exposure to Lehman Brothers came under financial pressure, sending shockwaves through the entire industry. In response to questions, Bernanke said regulators were still seeking the proper balance in implementing a rule named for former Fed Chairman Paul Volcker, http://www.cheaptomsshoessalei.com - cheaptomsshoessalei.com . The rule would limit the amount of trading financial institutions can do for their own accounts, as opposed to trading for clients. Regulators need to strike the proper balance or they will run the risk of reducing liquidity in important financial markets, he said. Bernanke did not discuss current Fed interest rate policies during his appearance Monday night. He said the Fed and other banking regulators are moving to impose tougher standards, not just on big banks but on big non-financial institutions such as insurance companies. The aim is to better regulate all financial institutions that could pose a risk to the stability of the financial system. "But even as we make progress on known vulnerabilities, we must be mindful that our financial system is constantly evolving and that unanticipated risks will develop over time," Bernanke said, http://www.tomsoutletsalecheap.com - toms shoes . He said that was an unavoidable consequence of the new financial regulations put into place by the sweeping Dodd-Frank Act that Congress passed in 2010 to overhaul the financial regulatory system. "An inevitable side effect of new regulations is that the system will adapt in ways that push risk-taking from more-regulated to less-regulated areas, increasing the need for careful monitoring and supervision of the system as a whole," he said. Your comment will be posted immediately, http://www.cheaptomsshoessalei.com - cheap toms shoes , unless it is spam or contains profanity. For more information, please see our Comments FAQ. An insider's guide to politics and policy, available on the iPad or as a PDF download.
By ELAINE GANLEY, Associated Press PARIS (AP) Christian Dior has named Belgian designer Raf Simons as its new artistic director, seven months after its icon, John Galliano, was convicted by a Paris court for drunken anti-Semitic ravings. A fashion rebel of a different sort, Simons who began his career as a furniture designer and has had his own successful menswear label will present his first show for the renowned Dior fashion house in July, according to Monday's announcement. Galliano was dismissed by Dior in March 2011, days before its fall-winter runway show, after a video went viral on the Internet showing the bad-boy designer inebriated and insulting a fellow client at a Paris cafe. He was heard slurring "I love Hitler," among other incendiary remarks. The 44-year-old Simons, who designed for the minimalist Jil Sander label from 2005 until just recently, was a top name among rumored candidate
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