Two Sides of Bail-Out Ben

Ben Bernanke: Income Inequality Is 'Creating Two Societies': "Pelley: The gap between rich and poor in this country has never been greater. In fact we have the biggest income disparity gap of any industrialized country in the world. And I wonder where you think that's taking America.

Bernanke: It's a very bad development. It's creating two societies. And it's based very much, I think, on educational differences. The unemployment rate we've been talking about. If you're a college graduate, unemployment is 5 percent. If you're a high school graduate, it's 10 percent or more. It's a very big difference. It leads to an unequal society, and a society which doesn't have the cohesion that we'd like to see.'"

Bernanke Defends Bond Plan; Urges More Stimulus : NPR: "Federal Reserve Chairman Ben Bernanke sought Friday to defuse criticism of the Fed's $600 billion bond-purchase plan by arguing that it's needed to boost the economy and reduce unemployment. But he warned that the Fed's program can't succeed on its own."