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Paul Tucker, the Bank of England official up before MPs this week, said contingency planning has already started to deal with this risk.
ECONOMIST: Interest rates
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But Mr Tucker suggested that efforts by banks to build up liquidity - cash, or nearly-cash to fill short-term borrowing needs - were less welcome.
BBC: The Bank's push to ease credit
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Up in the Rockies, Gabe Walker (Sylvester Stallone) and his friend Hal Tucker (Michael Rooker) dangle over an abyss, while the director, Renny Harlin, speeds up the editing until we giggle with nerves.
NEWYORKER: Cliffhanger
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"To help create jobs in America, we need to lower taxes and open up foreign markets to American goods, " said McCain spokesman Tucker Bounds.
CNN: Obama proposes billions for infrastructure, education
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"I still have the nightmares and wake up and find myself downstairs and I don't know how I got there, " Tucker said.
CNN: King: Veterans' stories show cost of military service
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"I still have the nightmares and wake up and find myself downstairs and I don't know how I got there, " said Chris Tucker, who did three tours of duty in Iraq.
CNN: 6 years later, progress and doubts are legacy of Iraq war
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Cohen set up the idea in a New York Times Op-Ed, which also apparently caught the eye of Tucker Carlson, who was sitting in for Sean Hannity over at Fox News.
FORBES: How Politics Body Slams Science
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Other candidates for the post included Bank deputy governor Paul Tucker, FSA chairman Lord Turner, Sir John Vickers, who led the government's recent review into breaking up the banks, and Santander bank's UK chairman Lord Burns.
BBC: Mark Carney named new Bank of England governor