January 19, 2008
Hint: his name's not on the dollar
Congresswoman Marcy Kaptur [(D-Ohio)] came to a House committee hearing on Thursday prepared to ask U.S. Treasury Secretary Henry Paulson tough questions about his involvement in the subprime mortgage crisis.
Unfortunately, she was questioning the chairman of the Federal Reserve.
The Ohio Democrat, at a House of Representatives Budget Committee hearing, said she wanted to know what Wall Street firms were responsible for the securitization of subprime mortgages.
She then asked: “Seeing as how you were the former CEO of Goldman Sachs…” But the only person testifying at the hearing interrupted.
“No, no, no, you’re confusing me with the Treasury Secretary,” said Federal Reserve Chairman Ben Bernanke.
“I’ve got the wrong firm? Paulson, Oh, OK. Where were you sir?” Kaptur said.
Bernanke noted that he was head of the Princeton University economics department.
I myself do not recall ever having seen either Bernanke or Paulson on television or in photos, so I'm not above Congresswoman Kaptur. Perhaps, like me, she gets her news via the National Public Radio and blogs. Regardless, it had to have been an embarrassing moment. It's always good to double-check the agenda and invite list when heading to a meeting.
Humour | By joe lance | 09:45 AM