In Bubble Denial: Bernanke Says Student Loans Won’t Cause Crisis
- Post 08 August 2012
- By Copy Editor
(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said record U.S. student loan debt doesn’t put the financial system at risk the way mortgages did because most educational borrowing is backed by the government.
“I don’t think it’s a financial stability issue to the same extent that, say, mortgage debt was in the last crisis because most of it is held not by financial institutions but by the federal government,” Bernanke said today at a town hall meeting with teachers at the Fed in Washington....more...
Standard Note: Hey, isn't this the same guy that said there wasn't a housing bubble just prior to an entire market blowing up?
"Question all which is 'taught,' dig deeper, think clearly, respond profusely. Conformity is the antithesis of free thought and self-determination." -- Standard Pearls