Saturday, January 19, 2008

CEO of Princeton Economics Department

Democratic Rep. Marcy Kaptur of Ohio launched into a lengthy question to Ben Bernanke during the Fed chairman's House testimony about community banks, securitization of home loans and investment banks' role in the crisis, ending with this point: "Seeing as how you were the former CEO Of Goldman Sachs…"

She was quickly stopped by Mr. Bernanke and the laughter in the room.

"I’ve got the wrong firm?" she asked, before being corrected that she was thinking of Treasury Secretary Henry Paulson. “Oh, OK. Where were you, sir?”

Said Mr. Bernanke: “I was the CEO of the Princeton Economics Department.

Hat tip to WSJ RTE.

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