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The Treasury Secretary of the Federal Reserve
Posted by: Jon Henke on Friday, January 18, 2008

Sometimes, there's really nothing to do but to point and laugh...
U.S. Congresswoman Marcy Kaptur came to a House committee hearing on Thursday prepared to ask U.S. Treasury Secretary Henry Paulson tough questions about his involvement in the subprime mortgage crisis.

Unfortunately, she was questioning the chairman of the Federal Reserve.

The Ohio Democrat, at a House of Representatives Budget Committee hearing, said she wanted to know what Wall Street firms were responsible for the securitization of subprime mortgages. She then asked: "Seeing as how you were the former CEO of Goldman Sachs ..." But the only person testifying at the hearing interrupted.

"No, no, no, you're confusing me with the Treasury Secretary," said Federal Reserve Chairman Ben Bernanke.

"I've got the wrong firm? Paulson, Oh, OK. Where were you sir?" Kaptur said.

Bernanke noted that he was head of the Princeton University economics department.
While Federal Reserve Chairman testimony to Congress is often vague and hard to understand, the question and answer sessions that follow often resemble an experienced economist teaching Econ 101. To petulant incumbents. And socialists. Which, really, is what it is. Hot Air caught the video...


 
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Chalk that one up next to Okinawa. Yet another instance of the likeable but vapid with their hands on the controls...

Suffice to say by straight voting against incumbents in November, regardless of who their challengers may be, we probably stand to gain far more than we lose.
 
Written By: D
URL: http://
Unsurprisingly, Reuters does an excellent job of minimizing the poise and wit displayed in Bernanke’s quote, which was merely paraphrased in the Reuters story. He actually deadpanned, "I was the CEO of the Princeton Economics Department." Can’t acknowledge a sense of humor in a dreaded Republican, can we, Reuters?
 
Written By: Wiz
URL: http://
Kaptur is not a newcomer to Washington. She is a 13th-term representative who also once worked in the Carter White House. Amazing.
 
Written By: DIffus
URL: http://

 
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