Wall Street bailout closer to approval
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NBC WALL STREET BAILOUT MEETING
Today, the Bush Administration's finance team will testify about the massive bailout they say the economy desperately needs.
US Federal Reserve Board Chairman Ben S. Bernanke, President George W. Bush, Treasury Secretary Henry Paulson, and Securities and Exchange Commission Chairman Christopher Cox.
Published: September 23, 2008
Updated: September 23, 2008
Top administration officials will discuss the ongoing financial turmoil before a Senate panel this morning.
Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke go before the Senate Banking Committee to discuss the administration’s proposed 700 billion-dollar bailout plan,
which remains the subject of much negotiation.
There’s agreement on some modifications including congressional oversight and mortgage help. But a key sticking point is whether there should be limits on the compensation that Wall Street
executives can receive.
Banking Committee chairman Christopher Dodd says time is of the essence in getting the bailout approved.
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