Bernanke tells US lawmakers 'financial turmoil is ongoing' - Bloomberg, Calls for liquidation tool for failed securities firm

July 10, 2008 10:00 AM EDT

Fed Chairman Ben Bernanke tells US lawmakers 'financial turmoil is ongoing' - Bloomberg. Urges consolidated supervision of investment banks. Calls for liquidation tool for failed securities firm. Fed aims to reduce nedd for government intervention. Says fed should get authority over payment systems.

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