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Leading democrat discovers awesome power of the fed chairman.

"He can make any loan he wants under any terms to any entity or individual in America that he thinks is economically justified. I asked the chairman if he had $85 billion to bestow in this way. He said, 'I have $800 billion.'"

Clearly unnerved after his exchange with Fed Chairman Ben Bernanke, Massachusetts Congressman Barney Frank, the chairman of the House Financial Services Committee, concluded that no one should have that kind of money to dispense as he sees fit.

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Title Annotation:QuickQuotes; Congressman Barney Frank
Author:McManus, John F.
Publication:The New American
Article Type:Brief article
Geographic Code:1USA
Date:Oct 27, 2008
Words:81
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