Old Project Avalon Forum (ARCHIVE) - View Single Post - HR 1207 Cosponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merger

peaceandlove · 06-28-2009, 09:32 AM

White House: Obama Has Confidence In Fed Chair Bernanke

June 25, 2009: 03:54 PM ET

WASHINGTON -(Dow Jones)- President Barack Obama has confidence in Federal Reserve Chairman Ben Bernanke and no concerns about the central bank's role in Bank of America's (BAC) merger with Merrill Lynch, the White House said Thursday.

"He has confidence in the job that Chairman Bernanke has done and confidence in the role that the Fed will play going forward to ensure what's happened never happens again," White House spokesman Robert Gibbs said. GIBBS...WHAT A GOON!

Obama, however, has dodged questions over Bernanke's future at the Fed.

The chairman's term expires at the end of January, prompting speculation that he may be replaced.

At a Congressional hearing Thursday, lawmakers vigorously grilled Bernanke on the Bank of America transaction and questioned whether the central bank should be given new powers under the administration's proposed reform of the regulatory system.

Asked if the White House has any concern over the Bank of America matter, Gibbs said, "No."

aka District of Columbia stamp!!

SOURCE and COMMENTS: http://www.campaignforliberty.com/wire.php?view=6113

06-28-2009, 09:32 AM	#2
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: HR 1207 Cosponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merg White House: Obama Has Confidence In Fed Chair Bernanke June 25, 2009: 03:54 PM ET WASHINGTON -(Dow Jones)- President Barack Obama has confidence in Federal Reserve Chairman Ben Bernanke and no concerns about the central bank's role in Bank of America's (BAC) merger with Merrill Lynch, the White House said Thursday. "He has confidence in the job that Chairman Bernanke has done and confidence in the role that the Fed will play going forward to ensure what's happened never happens again," White House spokesman Robert Gibbs said. GIBBS...WHAT A GOON! Obama, however, has dodged questions over Bernanke's future at the Fed. The chairman's term expires at the end of January, prompting speculation that he may be replaced. At a Congressional hearing Thursday, lawmakers vigorously grilled Bernanke on the Bank of America transaction and questioned whether the central bank should be given new powers under the administration's proposed reform of the regulatory system. Asked if the White House has any concern over the Bank of America matter, Gibbs said, "No." aka District of Columbia stamp!! SOURCE and COMMENTS: http://www.campaignforliberty.com/wire.php?view=6113 Last edited by peaceandlove; 06-28-2009 at 09:45 AM.