Oct 1, 2008

Ben Bernanke on Paulson's proposed $700 billion bailout

I believe if the credit markets are not functioning, that jobs will be lost, the unemployment rate will rise, more houses will be foreclosed upon, GDP will contract, that the economy will just not be able to recover. My interest is solely for the strength and recovery of the U.S. economy.

~ Ben Bernanke, Federal Reserve chairman, speaking before Senate Banking Committee, September 23, 2008

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