Fed's Bernanke: Credit easing is working


There was some good news for U.S. taxpayers and investors Friday: U.S. Federal Reserve Chairman Ben Bernanke said the Fed's credit easing program is working and the central bank expects to be repaid for its interventions to save AIG (AIG) and to facilitate the acquisition of Bear Stearns by JPMorgan Chase (JPM).

"From a credit perspective, these support facilities carry more risk than traditional central bank liquidity support, but we nevertheless expect to be fully repaid," Bernanke said in a Friday afternoon speech delivered at the Federal Reserve Bank of Richmond's 2009 Credit Markets Symposium.