Fed won't bail Europe out, Bernanke tells lawmakers

WASHINGTON Wed Dec 14, 2011 5:12pm EST

U.S. Federal Reserve Chairman Ben Bernanke pauses during a news conference following a two-day policy session in Washington November 2, 2011.  REUTERS/Jason Reed

U.S. Federal Reserve Chairman Ben Bernanke pauses during a news conference following a two-day policy session in Washington November 2, 2011.

Credit: Reuters/Jason Reed

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke told Republican senators on Wednesday the Fed can't and won't provide bailout funds to support European banks or nations, lawmakers said.

"We're all concerned, is the American taxpayer going to be bailing out European nations and banks," Senator Lindsey Graham told reporters after a meeting with the Fed chairman.

"He said, no, he doesn't have the intention or authority to do that," Graham said.

(Reporting By Mark Felsenthal and Pedro Nicolaci da Costa; Editing by Chizu Nomiyama)

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Comments (9)
Gordon2352 wrote:
I have news flash for you, the Fed can’t afford to bail anyone out anymore, including the US.

Dec 14, 2011 5:06pm EST  --  Report as abuse
randydutton wrote:
What wasn’t stated is whether we will provide the money via the IMF.

Dec 14, 2011 5:15pm EST  --  Report as abuse
AZWarrior wrote:
I for one, can no longer trust any statement from my government. Make him post a bond.

Dec 14, 2011 5:53pm EST  --  Report as abuse
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