Read the Bills Act Coalition

Friday, December 4, 2009

Bernanke defends record in bid for second term | Reuters

From Reuters:

"Federal Reserve Chairman Ben Bernanke, making his case for a second term, defended his record on Thursday before a skeptical Senate that criticized the central bank for failing to prevent the financial crisis...he soft-spoken Fed chief, who is widely expected to win Senate backing, argued that the U.S. central bank's aggressive actions to combat the financial crisis had been crucial to thwarting an even more severe economic slump...'We played a central role in efforts to quell financial turmoil,' Bernanke told the Senate Banking Committee. 'The outcome could have been markedly worse.'...Bernanke faced pointed, sometimes angry, questions from senators, many of whom accused the Fed of regulatory failures that laid the groundwork for last year's financial meltdown."

Read Here: Bernanke defends record in bid for second term | Reuters:

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