Bernanke's Capitol Hill testimony
Ben Bernanke, the chairman of the Federal Reserve, testified before the US House of Representatives' Committee on Financial Services on 20 September. In this testimony he discusses the Fed's response to the subprime-mortgage crisis and possible legislative options for addressing these concerns.
Bernanke said the perception that the government-sponsored enterprises (GSE) Fannie Mae and Freddie Mac "are fully government-backed implies that investors have few incentives in their role as
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