The United States Secretary of the Treasury is the head of the United States Department of the Treasury, concerned with finance and monetary matters

The Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States and one of the most important decision-makers of American economic policy.

Lawmaker mistakes Bernanke for Paulson at hearing

WASHINGTON (Reuters) - U.S. Congresswoman Marcy Kaptur came to a House committee hearing on Thursday prepared to ask U.S. Treasury Secretary Henry Paulson tough questions about his involvement in the subprime mortgage crisis.

Unfortunately, she was questioning the chairman of the Federal Reserve.

The Ohio Democrat, at a House of Representatives Budget Committee hearing, said she wanted to know what Wall Street firms were responsible for the securitization of subprime mortgages.

She then asked: “Seeing as how you were the former CEO of Goldman Sachs …” But the only person testifying at the hearing interrupted.

“No, no, no, you’re confusing me with the Treasury Secretary,” said Federal Reserve Chairman Ben Bernanke.

“I’ve got the wrong firm? Paulson, Oh, OK. Where were you sir?” Kaptur said.

Bernanke noted that he was head of the Princeton University economics department.

“Oh, Princeton, oh, all right, sorry. I got you confused with the other one … I’m glad you clarified that for the record,” she said.

Paulson was chairman and chief executive of Goldman Sachs before Bush tapped him to head the U.S. Treasury Department.

(Reporting by Neil Stempleman; editing by Gary Crosse)

 

On the surface this reads like a classic piece of satire, unfortunately it is true. There is nothing to be added to increase the humor or latent stupidity, but was too much of a jewel not to publish here.