Quotes from Ben S. Bernanke

had been a principal reason behind Citi's pursuit of Wachovia.

In choosing Tim, the president-elect showed that he was willing to take some political heat to get the adviser he wanted.

which she feared would do more harm than good.

We ran through the options.

But he would remain in close touch with us in his new capacity as adviser to the president-elect.

instead. But Obama had made up his mind and pressed Tim to accept, which he eventually did.

undertaken in conjunction with the Treasury and other bank regulators).

of knowing what the job was likely to entail for both her husband and the family.

Our emergency liquidity lending took many novel forms.

also made me feel at home.

With Bear's securities as collateral, JPMorgan would then lend the Fed's cash to Bear.

But, as we couldn't say often enough, we weren't doing this for Citi, its executives, its creditors, or anyone on Wall Street, but in the interest of overall economic and financial stability.

Despite the bumps, and there would be more, Tim would remain cool in the face of adversity.

thereby serving as lender of last resort.

Her instincts were too populist for us to see eye to eye on policy, however,

letting Citi go was not an option.

His great strength, cultivated over his years in government, was his focus on getting the policy right, whatever the obstacles.

he tackled a diverse set of tasks,

He attracted smart and dedicated people, and he emphasized a team approach

They would prove crucial in containing global contagion.

It was one authority I was happy to lose.

1948). The formal ceremony was legally redundant, but it was a nice event for our relatives and for the staff.

with the intent of ultimately seizing their homes);

Because the loan was effectively for the benefit of Bear,