In an effort to boost confidence, the Federal Reserve announced Tuesday it would shore up business loans. Meanwhile, AIG executives were grilled by lawmakers just weeks after accepting a government bailout.
"… dramatic announcement continued efforts to stabilize the financial markets are essential chairman Ben Bernanke says the Fed will use its authority to -- up short term loans known as commercial paper. Which businesses used to stock inventory and meet payrolls it's the latest effort to unfreeze credit markets and while officials won't say how much it will cost. They estimate over a trillion dollars worth of loans would be eligible. That's on top of the 700 billion dollar bailout plan congress approved and the president signed last week. And Bernanke says it's still no silver bullet. All told. Economic activities like he'd be subdued during the remainder of this year and into …" at 0:26
"… the government isn't through with its efforts to fix the economic mess Fed Chairman Ben Bernanke hinted today that another interest rate cut. Could be coming soon in Washington or kidney. …" at 1:32