Federal Reserve Chairman Ben Bernanke is testifying before Congress today on the proposed $700 billion bailout plan, meeting much skepticism. What follows is a brief, clear pair of questions from Representative Baron Hill of Indiana, regarding the "main street" concerns, as seen on CNBC:
REP. HILL: Is it fair to tell my main street people back home that their stock portfolios are going to decrease dramatically?
CHAIRMAN BERNANKE: Very likely.
HILL: And their 401ks and retirement programs?
BERNANKE: Very likely.
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