Bernanke, Geithner Warn Against Europe-U.S. Comparison

Law360, Washington (March 21, 2012, 5:17 PM EDT) -- U.S. Treasury Secretary Timothy F. Geithner and Federal Reserve Chairman Ben S. Bernanke cautioned members of a U.S. House of Representatives committee Wednesday that taking drastic austerity measures to alleviate government debt too quickly would go against the lessons learned from Europe's financial crisis.

Bernanke and Geithner testified Wednesday in front of the House's Committee on Oversight and Government Reform to discuss the European debt crisis, which has left Greece, Portugal and other member nations reeling and banking institutions struggling to keep the governments from defaulting...
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