Bernanke backs public-private valuation approach

The involvement of both the public and private sectors is essential to accurately value illiquid assets before public funds are used to remove them from dealer balance sheets, Federal Reserve chairman Ben Bernanke told the Senate Banking Committee.

Appearing before the committee to present his semi-annual monetary policy report, Bernanke faced questions from senators anxious to hear more details about the $1 trillion Public-Private Investment Fund. The fund was announced by Treasury secretary

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