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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Bernanke Applauds House Vote

Federal Reserve Chairman Ben S. Bernanke just released the following statement:

"I applaud the action taken by the Congress. It demonstrates the government's commitment to do what it takes to support and strengthen our economy. The legislation is a critical step toward stabilizing our financial markets and ensuring an uninterrupted flow of credit to households and businesses.

The Federal Reserve will continue to work closely with the Treasury as it undertakes these new initiatives. We will continue to use all of the powers at our disposal to mitigate credit market disruptions and to foster a strong, vibrant economy."

-- Michael S. Rosenwald

By Michael S. Rosenwald  |  October 3, 2008; 1:54 PM ET
Categories:  The Ticker  
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Ha ha, no wonder he applauds them. Now he make a REAL nice profit on his $364,000,000 in Goldman Sachs stocks.

Posted by: MikeMcNally | October 3, 1908 2:04 PM | Report abuse

...Welcome to the United Socialist States of America."

Posted by: KjmK | October 3, 1908 2:10 PM | Report abuse

Nothing more that a stopgap.

The next president will inherit the problem.

This skit is funny but also explains the problem.

Posted by: Michael Redbourn | October 3, 1908 2:11 PM | Report abuse

Mike Mcally, if you are referring to who used to work for Goldmann Sachs, it was Henry Paulson, the Treasury Secretary, not Ben Bernanke, chairman of the Federal Reserve.

Posted by: Guy | October 3, 1908 2:22 PM | Report abuse

Bernanke did nothing untill this crisis, and now wants to take a bow. Fire him, investigate him, freeze his assets and if he's found guilty of this Financial Terrorism........well, you decide.

Posted by: Gunnysgt | October 3, 1908 2:23 PM | Report abuse

Why do Bernanke or even Paulson still have a job?

Posted by: Gunny | October 3, 1908 2:25 PM | Report abuse

The government is functioning again. Fire Paulson and Bernanke? They are heroes and are doing everything in their power to protect the people of the United States. This is not socialism--it's good government.

Posted by: Andy | October 3, 1908 2:41 PM | Report abuse

"Why do Bernanke or even Paulson still have a job?"

Because the President can't fire the Chairman of the Federal Reserve.

Posted by: AK | October 3, 1908 3:22 PM | Report abuse

Democrats for John McCain and Sarah Palin in 2008

Posted by: Gretchen | October 3, 1908 3:38 PM | Report abuse

Heroes? Good Government? Make a packet, then step up to save the country when it is in danger of losing it? Good Government. Heroes.


Posted by: KjmK | October 3, 1908 4:14 PM | Report abuse

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