02/04/2009
https://www.congress.gov...
"And we now know, from the Fed's own research, that when the economy hit choppy waters last year, those banks needed stimulus from the taxpayers."
"The debt limit is not about future spending. It is about meeting obligations we have already made."
"Your job, the Fed's job, members of Congress' job is to serve the public, not their stock portfolios."
"So today I want to talk about three instances of that and ask you to think about them in hindsight."