I watched most of Paulson / Bernanke hearing today...
It can be condensed as follows:
Paulson/Bernanke: We need to bailout. We need it quickly. It will cost UP to $700 billion, maybe less, it WILL stabilize the financial market as needed.
Congress: How can we be sure the next Treasury Secretay won't come here 2 years from now asking for another U$ 700 billion?
Paulson/Bernanke: You can't.
They took 5 hours to say those lines.
It can be condensed as follows:
Paulson/Bernanke: We need to bailout. We need it quickly. It will cost UP to $700 billion, maybe less, it WILL stabilize the financial market as needed.
Congress: How can we be sure the next Treasury Secretay won't come here 2 years from now asking for another U$ 700 billion?
Paulson/Bernanke: You can't.
They took 5 hours to say those lines.
