How the World Works

Ben Bernanke's Goldman-Sachs secret

In October, Representative Marcy Kaptur, D-Ohio, embarrassed herself during a Congressional hearing on broadband access with an out-of-the-blue rant against Internet smut. On Thursday, she distinguished herself once again while questioning Federal Reserve Chairman Ben Bernanke during a Committee on the Budget hearing.

KAPTUR: Number three, seeing as how you were the former CEO of Goldman Sachs, what percentage level -- oh, investment -- were you not...

BERNANKE: No, you're confusing me with the Treasury Secretary.

KAPTUR: I got the wrong firm?

BERNANKE: Yes.

KAPTUR: Paulson. Oh, OK. Where were you, sir?

BERNANKE: I was a CEO of the Princeton Economics Department.

KAPTUR: Oh, Princeton. Oh, all right. Sorry. Sorry.

(LAUGHTER)

I got you confused with the other one. I'm sorry. Well, I'm glad you clarified that for the record.

And How the World Works is glad to know that the nation's economy is in the hands of legislators who can't tell the difference between the Secretary of the Treasury and the Chairman of the Federal Reserve Board of Governors.

Posted in: Economy

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Is the Obama economic rescue plan a failure?
Swayed by GOP attacks, independent voters are abandoning ship. But the summer of stimulus love has hardly started
Are automaker woes skewing unemployment figures?
In the summer, the Big 3 usually idle factories and lay off workers. But this year, they're ahead of schedule
The Pope's liberal Christian values
Social justice, wealth redistribution, a new morality for Wall Street -- the pontiff throws down on capitalism

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