Bernanke, Dudley justify Talf

Ben Bernanke, the chairman of the Federal Reserve, and William Dudley, the president of the New York Fed, moved to temper fears among lawmakers that the central bank's Term Asset-Backed Securities Loan Facility (Talf) puts taxpayers' money at risk.

In a 13-page document published on Tuesday, Bernanke and Dudley stressed that Talf "complements other policy initiatives by re-opening channels of funding for assets that had traditionally been securitised" and that the programme "supports the

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