Bernanke: Wall Street crisis threatens to drag down economy - Sep. 24, 2008
Bernanke, testifying before the Joint Economic Committee, repeated his calls for Congress to act on the Bush administration's proposal to give the Treasury Department authority to buy as much as $700 billion in mortgage-backed securities to address serious problems afflicting the credit and financial markets.
Bernanke said he could not estimate the eventual cost to taxpayers. But he argued - as he did on Tuesday before the Senate Banking Committee - that it would be significantly less than the $700 billion being requested because the government will be able to resell the securities it purchases.
This is still on going. The market is currently down only 19 points, many stocks are up
I'm beginning to think more and more that Dubya, Cheney, Bernanke and Paulson's cronies aren't going to get their "golden parachutes" and they're definitely going to be held accountable.
Woohoo, they're going off on Bernanke now!
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