Political Quotes

“Mr. President, I support the confirmation of Chairman Ben Bernanke. Chairman Bernanke has demonstrated tremendous skill in handling extraordinary economic challenges. We were very fortunate that the Chairman of the Federal Reserve Board of Governors during the economic chaos last fall was an individual whose area of academic expertise is the Great Depression. The Federal Reserve took unprecedented emergency actions that helped stabilize the economy and prevent further collapse of the financial markets. During my first meeting with the Chairman, he shared with me his experience as a school board member of trying to improve the availability of financial education. I have always greatly appreciated Chairman Bernanke's dedicated efforts to improve the financial literacy of students and consumers. The true costs of financial illiteracy have been made all too apparent by the financial crisis. One of the core causes of the crisis was that families were steered into mortgages with risks and costs they could not afford or even understand. Chairman Bernanke and I share a firm commitment to trying to improve the lives of working families through improved consumer protections and financial literacy. Chairman Bernanke has led efforts at the Federal Reserve to better protect and inform consumers. During Chairman Bernanke's tenure, the Federal Reserve has increased consumer protections in the subprime mortgage market and limited questionable practices in the broader mortgage market.…”