9 of 10
BACKNEXT
Too Big to Fail
Too Big to Fail
Considered one of the loudest critics of the "Too Big to Fail" excuse protecting America's largest banks, former Fed Chairman Paul Volcker, ironically was the creator of T.B.T.F. more than 20 years ago.

When Chicago's largest bank Continental Illinois went under in 1984, the Federal Reserve rushed in to save the day, issuing Continental $3.6 billion in loans. Volcker was at the Fed's helm.

Testifying before the Senate, he later defended the move, saying bailouts are "the most basic function of the Federal Reserve. It was why it was founded."

Since then, Volcker has advocated against the "Too Big to Fail" monster he helped create.



NEXT: The helicopter speech
Last updated March 24 2011: 3:05 PM ET
More Galleries
Secrets to success from Smalltown USA University of Utah professor Michael Glauser cycled 4,000 miles this summer, visiting 100 entrepreneurs across the country. Here's a snapshot of how they grew their businesses. More
7 scams that will make your blood boil All scams are heartless. But these seven schemes, which prey on the nation's most desperate and vulnerable -- from the homeless to the elderly -- will really make you mad. More
For sale: The world's most expensive apartment A penthouse apartment in Monaco is expected to sell for $400 million. More

Special Offer
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.