Bernanke, Ben

     SCHUMER: But don't you feel there is a dichotomy between federal intervention, taxpayer money, to prevent systemic risk -- it's appropriate to do for a large investment bank; isn't it just as appropriate to do it in the housing market? Because that also prevent, as a whole, presents systemic risk issues.

     That's the dichotomy many of us are troubled about. Not saying one is a bailout and one is not a bailout or anything like that.

     BERNANKE: Well, the Federal Reserve was acting in its sphere of influence to address financial issues. As I've said, I think housing is very important and we need to address it. But of course that's the Congress' sphere of influence, not the Fed's.

From the Q&A session