The Traderszone Network

Published in TZ Latest News 9 October, 2014 by The TZ Newswire Staff

Former Fed Chair Bernanke takes stand in AIG bailout trial

Former Federal Reserve Chairman Ben Bernanke took the stand on Thursday to defend the U.S. On Thursday afternoon Bernanke responded with a terse “yes, sir,” to multiple questions about the extreme conditions in the fall of 2008 that led to an initial $85 billion (52.72 billion pound) bailout loan for AIG, including a run on money market funds and a commercial paper market that was in shock.

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