On the recordMarch 2, 2009
But you are absolutely right. That was a serious issue.
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congress.govBut you are absolutely right. That was a serious issue.
Acknowledging past failures of credit rating agencies.
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More from Ben Bernanke
We all agree that the burden of regulation falls particularly heavily on small community banks which don't have the resources to manage those regulations very effectively.
We have just finalized new capital requirements that banks have to hold against these assets for sale, these securities, which should provide protection.
My concern is about defaulting on the debt, and for me that is a very high priority so a debt prioritization bill would help on that count very much.
If we are really interested in growing the economy, what we need to do is demonstrate that we can govern.