Tuesday, September 09, 2008

Bernanke's Cloudy Crystal Ball

Will congressional leaders require Ben Bernanke to answer follow up questions to his statement before them in July that Fannie Mae and Freddie Mac are "in no danger of failing."

Hat Tip: J. Michael McBride

Actually, they probably won't. As this editorial in the Wall Street Journal points out, Barney Frank leads the way, but he is accompanied by numerous members of both parties, in defending the status quo for these financial behemoths. They will not be prone to ask questions that would lead to demands of legitimate reform.

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