Why did you bail out Bear Stearns? It was the resounding question heard over and over in the Senate Banking, Housing, and Urban Affairs Committee hearing on “Turmoil in U.S. Credit Markets: Examining the Recent Actions of Federal Financial Regulators.” Federal Reserve Chairman Ben Bernanke, SEC Chairman Christopher Cox, United States Treasury Under Secretary Robert Steel, and President of the Federal Reserve Bank of New York Timothy F. Geithner, all attempted to answer that question to Congress. (more…)

Robert Steel, Undersecretary of the Department of Treasury, speaks about the Bush Administration’s plan to slow home foreclosure during this morning’s Senate Committee on Banking, Housing and Urban Affairs hearing on “Strengthening our Economy: Foreclosure Prevention and Neighborhood Preservation. (0:41)

 

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