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Bernanke: Bear Stearns Wasn't a Bailout
Summary from multiple countries, from articles in English
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WASHINGTON - New York Federal Reserve Bank president Timothy Geithner said capital markets are still "substantially impaired" and policy makers and financial industry leaders must "act forcefully" to stem the crisis. (article 13)
Bernanke and Treasury Department Undersecretary Robert Steel said that the consequences to the U.S. economy and financial system would have been far more serious had the government allowed the nation's fifth largest investment house to go bankrupt. (article 5)
" Given the exceptional pressures on the global economy and financial system, the damage caused by a default by Bear Stearns could have been severe and extremely difficult to contain Bernanke told the Senate Banking Committee. (article 18)
With home foreclosures swelling to record highs and job losses mounting, Bernanke on Wednesday offered Congress an unflinching und and more pessimistic und assessment of potential damage to the national economy. (article 4)
The chairman of the Federal Reserve said its recent actions - big interest rate cuts and emergency measures to support market liquidity - "appear to have helped stabilise the situation" in financial markets " somewhat. (article 1)
In response to deterioration in the near-term outlook for the economy and intensified strains in financial markets, in recent months the Federal Reserve has eased monetary policy substantially further and taken strong actions to increase market liquidity. (article 17)
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Other stories about Bear, Stearns and Fed:
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Story keywords
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Bear, Stearns, Fed, Bernanke, financial |
Source articles
- Bernanke warns US economy could shrink (ft.com, 04/02/2008, 567 words)
- The Seattle Times: Recession on Bernanke radar screen (seattletimes.nwsource.com, 04/03/2008, 761 words)
- Bernanke warns of possible recession (dallasnews.com, 04/02/2008, 875 words)
- Bernanke Says Recession Possible (Washington Post, 04/03/2008, 436 words)
- Bear Stearns Rescue Backed Amid Concerns (Washington Post, 04/03/2008, 496 words)
- Bernanke: Bear Stearns Wasn't a Bailout (Washington Post, 04/03/2008, 523 words)
- Fed boss says recession possible (BBC News, 04/02/2008, 442 words)
- Alfred Kahn, the adviser to President Carter who w... (USA Today, 04/02/2008, 391 words)
- The Fed crossed the line with bailout :: CHICAGO SUN-TIMES :: Robert Novak (suntimes.com, 04/03/2008, 696 words)
- Bear Stearns deal goes under the microscope (money.cnn.com, 04/03/2008, 1082 words)
- Bear Stearns says traders' false rumours took bank to the brink (business.timesonline.co.uk, 04/04/2008, 569 words)
- SEC hunts illegal trades in Bear case (ft.com, 04/03/2008, 449 words)
- Capital markets called 'impaired' (boston.com, 04/04/2008, 433 words)
- Testimony of Christopher Cox in full (ft.com, 04/03/2008, 370 words)
- ABC News: Grassley: Why Did SEC Drop Bear Stearns Probe in '05? (ABCNews, 04/03/2008, 313 words)
- Bernanke's Remarks on Bear Stearns (Washington Post, 04/03/2008, 932 words)
- Bernanke Speaks to Congress About Econony (Washington Post, 04/02/2008, 2297 words)
- ABC News: JPMorgan, Bear Execs Speak Out (ABCNews, 04/03/2008, 336 words)
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blaster@cs.columbia.edu
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