Federal Reserve Board chairman Ben Bernanke said Saturday that the economic costs of the financial crisis “have been very severe” and the Fed has gone from managing the crisis to “supporting the economic recovery.”

Bernanke, in remarks prepared for the Independent Community Bankers of America meeting in Orlando, also emphasized the need to do something about the “pernicious problem” of financial institutions deemed “too big to fail.” He outlined a three-part plan for defusing the syndrome.

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