Feedback: No More Big-Bank Bailouts? Not on This Planet, Ben

Re: "Bernanke: Regulatory Reform Will Prevent Future Bailouts" [Sept. 2]

Anyone who believes Ben Bernanke's assessment that the new reform laws for financial institutions prevent bailouts of big institutions just arrived on this planet this morning.

During the crisis we saw all kinds of precedents set, including bondholders being poured out at GM for the union. When mark-to-market accounting revealed the big financial institutions would be severely undercapitalized if the rule was applied, they decided it was not relative and disregarded it. They will change any rule/law anytime they see fit.