Big Bailout (3): Government Fixing the Crisis Government Caused

The Senate held hearings to grill Treasury Secretary Paulson and Federal Reserve Chairman Bernanke. . The Administration’s position, presented by  Secretary Paulson, is that Congress must immediately provide a way for institutions that hold poor quality mortgage backed securities to dump them.  The alternative, say Secretary Paulson and  Chairman Bernanke, would be an unthinkable “meltdown” […]