Bernanke: Our Bailouts, QE Were Undertaken ‘with No Scandals, No Favoritism, No Errors’

SORKIN Mr Chairman this ░░░░░░░░ your house you get ░░░░░░░░ last word BERNANKE It ░░░░░░░░ a pleasure and honor ░░░░░░░░ work with the two ░░░░░░░░ I think one of ░░░░░░░░ things that was important ░░░░░░░░ avoiding of turf battles ░░░░░░░░ you look at military ░░░░░░░░ you see even in ░░░░░░░░ war that the different ░░░░░░░░ and the different groups ░░░░░░░░ sometimes pushing against each ░░░░░░░░ you know trying to ░░░░░░░░ their their turf We ░░░░░░░░ on had a sufficient ░░░░░░░░ about what the challenge ░░░░░░░░ and what the risk ░░░░░░░░ and that we had ░░░░░░░░ goals And we were ░░░░░░░░ to work for those ░░░░░░░░ goals even sometimes at ░░░░░░░░ expense of our individual ░░░░░░░░ or or departments So ░░░░░░░░ was that was really ░░░░░░░░ And I want to ░░░░░░░░ was going to say ░░░░░░░░ I want to you ░░░░░░░░ reiterate what Tim said ░░░░░░░░ the quality of the ░░░░░░░░ and the quality people ░░░░░░░░ are doing the analysis ░░░░░░░░ all of these we ░░░░░░░░ about all of these ░░░░░░░░ and these complicated capital ░░░░░░░░ and stress test these ░░░░░░░░ dozens if not hundreds ░░░░░░░░ you know people who ░░░░░░░░ the technicalities of banking ░░░░░░░░ and supervision who are ░░░░░░░░ to implement these programs ░░░░░░░░ with no as far ░░░░░░░░ I can recall no ░░░░░░░░ no you know no ░░░░░░░░ no errors nothing It ░░░░░░░░ just done extremely well ░░░░░░░░ the quality of the ░░░░░░░░ was actually a very ░░░░░░░░ part of this SORKIN ░░░░░░░░ PAULSON And they worked ░░░░░░░░ no bonuses Laughter SORIN ░░░░░░░░ re going to leave ░░░░░░░░ there Chairman Benanke Secretary ░░░░░░░░ and Secretary Geithner thank ░░░░░░░░ Thank you very very ░░░░░░░░ Applause)