TEXT OF STORY
Kai Ryssdal: Truly, Henry Paulson and Ben Bernanke couldn’t have planned it better if they’d tried, because just as all those rumors were starting to pick up steam this morning, the Treasury Secretary and the Chairman of the Federal Reserve Bank of the United States found themselves in front of the microphones testifying before the House Financial Services Committee.
And they were saying basically the same thing: Unless you want another Bear Stearns, we need more rules to help control the markets — and we need ’em fast.
Ben Bernanke: The broader reforms that I believe are necessary are obviously the purview of Congress and we hope that you’ll be addressing those issues in a timely way.
Spencer Bachus: Secretary Paulson?
Henry Paulson: I agree very much with what the chairman has said.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.