Here is my question...
Bernanke is supposed to be some financial genius who will guide us out of this mess with his great wisdom, which consists of, ‘...an economic recovery depends on the government’s ability to stabilize weak financial markets’.
Isn’t that a lot like saying, “We’ll recover when we have economic growth”, or, “We need businesses to expand and create jobs”?
If I had been a Senator, I’d have asked, “Do you know anything that isn’t intuitively obvious to the most casual observer?”
BTW - I don’t believe the government can stabilize financial markets - too much bad debt. However, the banality of his comments struck me as amazing.