B9vot3r
01-17-2008, 03:05 PM
cnn article here
http://money.cnn.com/2008/01/17/news/economy/fed_bernanke/index.htm?cnn=yes
"Federal Reserve Chairman Ben Bernanke told Congress Thursday that legislators should enact a fiscal stimulus package in order to help beleaguered consumers as recession fears grow.
The comments by Bernanke, who testified before the House Budget Committee, came as a cascade of more bad news about the housing, financial and manufacturing sectors stoked calls for decisive action.
"To be useful, a fiscal stimulus package should be implemented quickly and structured so that its effects on aggregate spending are felt as much as possible within the next twelve months or so," Bernanke said...."
Bernanke calling for congress to act to curb the recession via greater tax cuts, meanwhile wallstreet is asking Fed to cut rates. AGAIN. (i feel thats all i hear wall street saying in recent news).
some youtube vids
http://youtube.com/watch?v=phgJzN0A0bU
http://youtube.com/watch?v=dLCV_rErSGg
bernanke has NO ANSWERS as usual. "well you put your finger on a very difficult problem..." He sort of seems to be sweating and stammering a good bit in the second vid :/
what gets me is that the congressmen on the committee really address him with much respect. much more than i could ever muster anyhow.
http://money.cnn.com/2008/01/17/news/economy/fed_bernanke/index.htm?cnn=yes
"Federal Reserve Chairman Ben Bernanke told Congress Thursday that legislators should enact a fiscal stimulus package in order to help beleaguered consumers as recession fears grow.
The comments by Bernanke, who testified before the House Budget Committee, came as a cascade of more bad news about the housing, financial and manufacturing sectors stoked calls for decisive action.
"To be useful, a fiscal stimulus package should be implemented quickly and structured so that its effects on aggregate spending are felt as much as possible within the next twelve months or so," Bernanke said...."
Bernanke calling for congress to act to curb the recession via greater tax cuts, meanwhile wallstreet is asking Fed to cut rates. AGAIN. (i feel thats all i hear wall street saying in recent news).
some youtube vids
http://youtube.com/watch?v=phgJzN0A0bU
http://youtube.com/watch?v=dLCV_rErSGg
bernanke has NO ANSWERS as usual. "well you put your finger on a very difficult problem..." He sort of seems to be sweating and stammering a good bit in the second vid :/
what gets me is that the congressmen on the committee really address him with much respect. much more than i could ever muster anyhow.