"another Lehman Brothers-" Bernanke again drew attention to money-market funds, noting the Treasury no longer has the legal authority to guarantee investors’ holdings in funds, as it did after the 2008 panic, when the Reserve Primary Fund “broke the buck”. This issue is largely in the hands of the Securities and Exchange Commission, though the Financial Stability Oversight Council, of which Bernanke is a member, has called for action in this area.
Bernanke also repeated concerns about short-term wholesale markets, which have the potential to dry up in another Lehman Brothers-like situation. While Bernanke did not draw the link in the speech, the potential for these markets to dry up is a reason regulators are concerned with mortgage REITs.
Bernanke: Fed monitoring ‘reaching for yield’
https://www.marketwatch.com/story/bernanke-fed-monitoring-reaching-for-yield-2013-05-10
If this is transparency then it is MORE than a 'shot at the bow' warning investors ... don't like the tone. Time to stack cash.
jmho dyodd glta