Federal Reserve Chairman Ben Bernanke Tuesday faced angry members of the Senate Budget Committee as he answered questions concerning the latest bailout of American International Group (AIG), even as the Fed chief warned that an economic recovery hinges on the government's success in stabilizing shaky financial markets and their major players, reports Jeannine Aversa at the Associated Press.
Bernanke reportedly told the committee, "I share your concern, I share your anger. It's a terrible situation, but we're not doing this to bail out AIG or their shareholders. We're doing this to protect our financial system and to avoid a much more severe crisis in our global economy."
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