Forex News: Fed's Bernanke speaking in Washington

• SAYS FED MAY EXTEND WALL ST. LENDING ACCESS TO 2009
• FED WORKING WITH SEC, DEALERS ON CAPITAL, LIQUIDITY
• URGES TREASURY HAVE LEADING ROLE IN CLOSING FIRMS\
• SAYS LOANS TO PRIMARY DEALERS MAY WEAKEN DISCIPLINE
• CONGRESS MAY NEED TO BOOST INVESTMENT BANK OVERSIGHT
• SAYS SHORT-TERM FUNDING MARKETS IMPROVED SOMEWHAT
• ENDORSES PROPOSAL FOR DEALER LIQUIDATION PROCESS

Although Mr.Bernanke did not speak on interest rates or the economy, the health of Wall Street is certainly a concern of the markets.  Firms still need more capital to cover the tough times still ahead (e.g. Fannie Mae and Freddie Mac news from yesterday).  The proverbial pink elephant is still in the room (i.e. bad loans on balance sheets) and financial institutions will need capital to cover the losses.