US Response to the European Debt Crisis

Here is a video of Timothy Geithner and Ben Bernanke discussing US loans. When answering questions about funding of the IMF for financial needs, Treasury Secretary Timothy Geithner responded by telling them not to worry because the loans are "backed by gold."

March 21, 2012
House Committee Oversight and Government Reform
C-Span

Timothy Geithner and Ben Bernanke testified on U.S. response to the European Union debt crisis. Chair Bernanke said the European debt crisis still poses risks to the U.S. economy, but recent stress tests on major U.S. banks shows that many would be able to survive an economic downturn. They also answered questions about the U.S. housing market and federal debt.

To watch the video CLICK HERE

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