We had no choice, Bernanke tells lawmakers

The Federal Reserve had no choice but to intervene and put taxpayers' money at risks earlier this month by backing a fire sale of the assets of Bear Stearns, a leading American investment bank, its chairman said on Wednesday in testimony before US lawmakers.

Ben Bernanke headed for Congress on Wednesday for what has been billed as potentially his toughest grilling by politicians since taking over at helm of the Fed little over two years ago.

A key area of concern for many members is that the F

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: