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Paulson, Bernanke Grilled On Bailout Plan In House Committee

First Posted: 09-24-08 06:25 PM   |   Updated: 10-25-08 05:12 AM

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The debate over a proposed $700 billion government bailout of the nation's financial system raced forward on Wednesday as a key House committee took up the plan and the White House said that President Bush would address the nation in a prime-time speech.

The House Financial Services Committee, led by Rep. Barney Frank, D-Mass., grilled Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke over the details of the controversial proposal.

Lawmakers are taking up a range of issues from helping homeowners to protecting taxpayers to barring lofty pay packages at participating firms.

Read the whole story: CNN

Filed by Dan Duray  |  Report Corrections