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With the discussion becoming heated, the chairman of the Federal Reserve, Ben S. Bernanke, who was seated next to Mr. Paulson, interceded. He told the bankers that the session need not be combative, since both the banks and the broader economy stood to benefit from the program. Without such measures, he added, the situation of even healthy banks could deteriorate.
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ink their spending, which leads to businesses cutting jobs and even closing up shop.â
Mr. Bernanke, echoing Mr. Paulsonâs comments, said, âAmericans can be confident that every resource is being brought to bear,â including political leadership.
âI strongly believeâ that the application of the measures together with resilience of American economy âwill help restore confidence,â Mr. Bernanke said.
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