Ben Bernanke's Goldman-Sachs secret

The Fed chairman displays a rare sense of humor during a Congressional hearing

By Andrew Leonard
January 18, 2008 1:50AM (UTC)
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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?


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.


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.

Andrew Leonard

Andrew Leonard is a staff writer at Salon. On Twitter, @koxinga21.

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Ben Bernanke Globalization Goldman Sachs How The World Works U.s. Economy Wall Street