Roughly a year ago (Oct 2005), Helicopter Ben testified in front of the Senate. Here's a link to the Washington Post reporting on that: Bernanke: There's No Housing Bubble to Go Bust.
Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve.
U.S. house prices have risen by nearly 25 percent over the past two years, noted Bernanke, currently chairman of the president's Council of Economic Advisers, in testimony to Congress's Joint Economic Committee. But these increases, he said, "largely reflect strong economic fundamentals," such as strong growth in jobs, incomes and the number of new households.
I am documenting it here because I am going to relish watching Pinocchio squirm in front of the Senate next week.
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