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Ben Bernanke

Started by S Goldstein; Last updated Jul 25, 08 2:17 PM CDT by cajunbearcub | View history

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Ben Bernanke

Opinion has risen and fallen on the Federal Reserve Chairman since he took office in February 2006

Stories

Stories 41 - 60 of 124

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May 2008
- US Must Stop Foreclosures, Bernanke Warns
  
  Los Angeles Times | May 6, 08 2:35 AM CDT
  
  (Newser) - Federal Reserve Chairman Ben Bernanke yesterday called for government intervention to halt home foreclosures, warning that to do nothing could "destabilize communities, reduce property values of nearby homes, and lower tax revenues." Bernanke said in a speech in New York that a million Americans were already three months behind in mortgage payments at the beginning of this year, threatening dire consequences for the future of the economy, reports the Los Angeles Times . More »
April 2008
- Fed Trims Rate to 2%
  
  Wall Street Journal | Apr 30, 08 1:31 PM CDT
  
  (Newser) - As expected, the Federal Reserve cut a key US interest rate today, the Wall Street Journal reports, trimming its overnight rate a quarter-point to 2%. Seven consecutive cuts have the rate down from 5.25% in September as the Fed attempts to keep the economy from stalling under credit woes. "Economic activity remains weak," today's statement says, and markets "remain under considerable stress." More »
- Bear Bailout Called 'Worst Mistake in a Generation'
  
  Wall Street Journal | Apr 29, 08 8:18 AM CDT
  
  (Newser) - A former top-ranking Fed official has called the central bank's decision to bail out Bear Stearns its "worst mistake in a generation," the Wall Street Journal reports. The official, former chief of monetary policy, compares the hasty move to errors that helped trigger the Great Depression. He accused officials of ignoring other options, such as demanding more from buyer JP Morgan, seeking other suitors or removing certain assets from Bear's portfolio. More »
- Fed Ponders Pause in Rate Cuts—After 1 More
  
  Wall Street Journal | Apr 24, 08 10:05 AM CDT
  
  (Newser) - The Federal Reserve may be ready to cool its torrid rate-cutting after a likely .25% percentage point cut at its meeting next week, the Wall Street Journal reports. Futures markets are betting Chairman Ben Bernanke is unlikely to rest just yet, with little change in the month-to-month economic picture, but will pause after that to assess the cuts' effect and avoid stoking inflation. More »
- G-7 Leaders Offer No Fix for Credit Crisis
  
  Wall Street Journal | Apr 14, 08 7:31 AM CDT
  
  (Newser) - Group of Seven finance ministers ended 3 days of meetings in Washington yesterday by endorsing a plan to create greater transparency and oversight in financial markets to avert future crises, but no emergency measures to stem the current one. Despite a downbeat report on the likelihood of worldwide recession, and even hunger riots as the cost of food continues to soar, responses to the credit crisis remain national responsibilities, writes the Wall Street Journal . More »
- Fed, Execs Defend Bear Bailout
  
  New York Times | Apr 3, 08 12:10 PM CDT
  
  (Newser) - Bear Stearns was just hours from collapse, and letting it go down would have been disastrous, executives and regulators argued on Capital Hill today while defending the controversial bailout, the New York Times reports. Without the takeover, “we would all be facing a far more dire set of challenges,” said JPMorgan CEO James Dimon, citing the possibility of a mass run on other investment banks. More »
- Slow Day Sees Modest Losses
  
  Wall Street Journal | Apr 2, 08 3:48 PM CDT
  
  (Newser) - The markets slid into negative territory after Ben Bernanke's Congressional testimony on the state of the economy today, but trading was generally low-key. "Flat is good," an economist told the Wall Street Journal . "People are getting their nerve back." The Dow ended down 45.44 at 12,608.92, the Nasdaq down 1.35 at 2,361.40, and the S&P 500 down 2.65 at 1,367.53. More »
- Bernanke: Adjustment Is Mostly Over
  
  Wall Street Journal | Apr 2, 08 10:24 AM CDT
  
  (Newser) - Ben Bernanke for the first time acknowledged the possibility of a US recession, but he also voiced optimism that “much” of the adjustment period was over, the Wall Street Journal reports. His testimony before Congress seemed to suggest an end to aggressive stimulus measures—noting that rates had already been cut “substantially” and inflation was still a “source of concern.” More »
- Congress to Grill Bernanke on Bear Stearns
  
  New York Times | Apr 2, 08 8:40 AM CDT
  
  (Newser) - Federal Reserve Chairman Ben Bernanke steps onto a tightrope today for two days of Congressional testimony focusing on the central bank’s starring role in the Bear Stearns bailout. Bernanke likely will be taken to task for not stepping in earlier, and more forcefully, to avert economic chaos, reports the New York Times . More »
- Small Banks, States Rip Paulson Plan
  
  Wall Street Journal | Apr 1, 08 9:18 AM CDT
  
  (Newser) - Small banks, credit unions, states, and assorted politicians wasted no time ripping into the Bush administration’s plans to rework federal regulation of the financial industry, calling it an amateurish attempt by a “bunch of guys from Wall Street,” reports the Wall Street Journal. “It’s because none of those guys ever worked in a regulated, chartered bank," said one lobbyist for small banks. More »
March 2008
- Investors Urge Reluctant Fed to Buy Mortgage Debt
  
  Bloomberg | Mar 24, 08 12:50 PM CDT
  
  (Newser) - The best way for the Fed to help reverse the sagging economy is for it to buy some of the $6 trillion in outstanding mortgage-backed securities that have Wall Street so nervous, investors say. The move would ease the credit crunch but put taxpayers at risk. It’s an option the Bush administration has been reluctant to take, reports Bloomberg. More »
- Cramer: the Bear Has Been Tamed
  
  New York | Mar 21, 08 11:11 AM CDT
  
  (Newser) - We've hit bottom, Jim Cramer proclaims. Bear Stearns' collapse may have been apocalyptic in scale, but it at least woke up a complacent Fed and Treasury secretary, the bombastic market guru writes in New York today. “We’ve been through dozens of false bottoms,” he says, but now Bernanke and Paulson are “basically saying they will do anything to save the system.” More »
- Bernanke's Home Is Case in Slump's Point
  
  Bloomberg | Mar 20, 08 12:51 PM CDT
  
  (Newser) - Federal Reserve boss Ben Bernanke’s own home illustrates the very crisis his organization must fight—in the midst of a national housing slump, it’s worth roughly the same as when he bought it in 2004, Bloomberg reports. Values peaked just after that; the fact that his Capitol Hill pad is still worth about $839,000 suggests the downturn is reaching the country’s richest neighborhoods. More »
- Crisis Is More of Confidence Than Credit
  
  New York Times | Mar 19, 08 11:39 AM CDT
  
  (Newser) - The credit crisis that’s roiled financial markets has its genesis in the housing boom that began in 1998, David Leonhardt writes in the New York Times . The boom led lenders to create new financing options—including subprime loans—as investors saw potential for huge returns. Low interest rates encouraged investors, and homeowners, to stretch themselves too thin—and the seeds of crisis were planted. More »
- Fed Cut Raises Inflation Fears
  
  Washington Post | Mar 19, 08 10:27 AM CDT