Bernanke: More Bailouts Please

Last week, Federal Reserve Chairman Ben Bernanke was saying the recession could end this year. This week: More bailouts, please. Bernanke suggested in a speech before the Senate Budget Committee that the banking system will need money beyond the $700 billion in TARP funds already allocated. “Without a reasonable degree of financial stability, a sustainable recovery will not occur,” he said. “Although progress has been made on the financial front since last fall, more needs to be done.”