November 8, 2007, 12:19 pm Bernanke: Merit of Super SIV âDepends on the Executionâ Fed Chairman Ben Bernanke said the Treasury-sponsored effort to create a âSuper SIVâ could help restore normality to markets but he stopped well short of an endorsement. Bernanke It âall depends on the execution,â he told the Joint Economic Committee. âIf it does involve the oversight of investors and a range of financial institutions, then ideally the assets should go into the MLEC [Master Liquidity Enhancement Conduit] at a fair value and at a market value. So ⦠if it works properly I think it would speed up the recognition of values in part because it would remove some of the risk of fire sales, of rapid drawing down of assets in some of these vehicles and allow the market to stabilize and begin to make a better longer term valuation of what these assets are worth.â He added, âIf thatâs the way it works, and again it depends on execution, it would remove some overhang from the market, it would create a stable financing source for those assets and it ought not to be inconsistent with the price discovery process.â