people who already have money? a strong argument. by the way, we heard the just leave us alone argument from wall street before. that didn t work the last time. there are a lot of people that feel that all of this money has actually created market bubbles. when you look back, last summer around july, the fed hinted it would start pulling back some of the spending and markets did correct. you saw emerging markets go down sharply, commodities were down sharply. there are worries that this is creating risk in our economy. this is also ben bernanke s last press conference he ll be holding as fed chairman. what are you looking for? everyone parses his words so carefully. what are you looking forward to coming out of the meeting? what you want is clarity. the fed is not always clear and they kind of speak in their own sort of jargon. you want him to lay out exactly what are they looking for going forward. they ve done a good job to be fair. they said we want a stronger labor market, mo
one of the reasons they ve been doing that is because of political chaos. the fed is the economic stimulator of last resort. true. a lot of people worry that market bubbles are brewing because of that. that will be her big challenge, how to get us out of that. that s what i would consider a huge challenge, especially when you know what we ve been talking about all day. christine, ra in. rana, thank you. a developing story out of boston. the good news, most of boston school bus drivers are back on the road after a surprise strike. the bad news it left 30,000 students stranded and parents in the lurch. cnn s pamela brown is falling developments for us, live in bos boston. what do we know now, pamela. reporter: we know that acovereding to the mayor s office, normal bus service has resumed this morning. parents are encouraged to keep an eye on the situation, because even though buss are back on the roads, we simply don t know how long that s going to last.
paraphrasing here, told you so, as you may have seen live here on cnn, mr. obama returned to cooper union college which is near but not on wall street to make his case for the very reforms that so many wall street executives and their high paid lobbyists are fighting. i say return to cooper union because in 2008 candidate obama warned about reckless trading, market bubbles, gaps in oversight, all of which helped create the mess that we are still climbing out of. today he said a rule book for the 21st century is good business and the status quo is not. we have seen battalions of financial industry lobbyists descending on capitol hill, firms spending millions to influence the outcome of this debate. we ve seen misleading arguments and attacks that are designed not to improve the bill but to weaken or to kill it. we have seen a bipartisan process buckle under the weight of these withering forces.