Bernanke defends Fed's bank rescues, unprecedented efforts

07/27/2009 | Bloomberg · Washington Post, The · NYTimes.com

At a town hall meeting in Kansas City, Mo., Federal Reserve Chairman Ben Bernanke defended the central bank's efforts to stabilize the banking sector and bolster the economy. "In a financial crisis, if you let the big firms collapse in a disorderly way, it will bring down the whole system," Bernanke said. "I was not going to be the Federal Reserve chairman who presided over the second Great Depression."

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Bloomberg · Washington Post, The · NYTimes.com

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