For Immediate Release
Bernanke Hearing: Taxpayers Deserve Answers
U.S. PIRG Statement on Federal Reserve Chairman Ben Bernanke’s Confirmation
WASHINGTON - "Chairman Bernanke needs to answer serious questions about his advice and actions leading up to, during and in the aftermath of the financial meltdown. Taxpayers can't afford another undetected housing bubble. Businesses can't afford another lending freeze. None of the unprecedented actions taken by the Federal Reserve have led to more jobs and financial security for families. And without meaningful transparency, no one knows exactly what he's done.
"In addition, the Fed's new claims that it's a born-again consumer advocate and bubble-fighter are just claims. Congress needs to enact legislation to protect consumers, prevent systemic risk and to audit and democratize the Federal Reserve."
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U.S. PIRG, the federation of state Public Interest Research Groups (PIRGs), stands up to powerful special interests on behalf of the American public, working to win concrete results for our health and our well-being. With a strong network of researchers, advocates, organizers and students in state capitols across the country, we take on the special interests on issues, such as product safety,political corruption, prescription drugs and voting rights,where these interests stand in the way of reform and progress.