The stock market is down sharply from its peak. Bank failures are rising. The federal government is taking extraordinary actions to shore up a beleaguered economy. In the midst of the crisis, a government official reflects: "We cannot stand by when a house is on fire to engage in lengthy debates.... In such a situation, we instinctively seize uponrnand utilize whatever method. ..offers assurance of speediest success." Quick: Is that Federal Reserve Board Chairman Ben Bernanke speaking before Congress ? U.S. Treasury Secretary Henry M. Paulson Jr. on the bailout of mortgage giants Freddie Mac and Fannie Mae? No, it was Henry B. Steagall, chairman of the House Committee on Currency & Banking-in 1932.
展开▼
机译:股市从最高点急剧下跌。银行倒闭率正在上升。联邦政府正在采取特别行动,以支持陷入困境的经济。在危机中,一位政府官员反映:“当房屋着火时,我们不能袖手旁观,进行冗长的辩论……。在这种情况下,我们本能地抓住并使用任何方法。最快的成功。”快速:美联储主席本·伯南克是否在国会面前发言?美国财政部长小亨利·保尔森(Henry M.Paulson Jr.)是否对抵押贷款巨头房地美(Freddie Mac)和房利美(Fannie Mae)进行了救助?不,是1932年内务委员会货币与银行事务委员会主席亨利·B·斯泰格尔(Henry B. Steagall)。
展开▼