Valuation

Bernanke Tosses Script, Discusses Asset Pricing 

You’ve got to give Federal Reserve chairman Ben Bernanke his due; the man isn’t afraid to leave the comfort of a prepared speech behind, a point he proved on Tuesday’s Congressional testimony, perhaps the most important testimony of his tenure thus far. The Fed chief ditched his prepared remarks to the Senate Banking Committee in order to discuss instead critical pricing issues surrounding the Treasury’s proposal to buy up distressed and impaired assets from U.S. financial institutions.