But the Fed just felt like they couldn't take the risk of having Bear Stearns, which has hooks in so many corners of the financial market, not just go bankrupt but go bankrupt so quickly.

NPR: Bailing out Bear Stearns

So the central part of this is to make sure that in future financial crises, that banks bear the cost of any risk the government has to take to protect the economy.

WHITEHOUSE: Press Briefings

After losing big time in the 2007-2009 bear market, they were under pressure from their investors to take less risk.

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And if you take that risk away from the Medicare program and say that each individual will bear it, it does reduce spending.

WHITEHOUSE: Press Briefing

Age-based allocation directs older people to take less risk each year, regardless of market conditions, even though they have learned to handle bear markets and have even learned to take advantage of them.

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