Bernanke, Paulson Put Fear of God Into Pols

Of meeting with officials, lawmaker says: 'We have never heard language like this'

By Harry Kimball, Newser Staff

Posted Sep 19, 2008 4:18 PM CDT

(Newser) – Lawmakers were astounded at the possible fallout of the crisis on Wall Street outlined last night by Fed chairman Ben Bernanke and Treasury Secretary Henry Paulson, the New York Times reports. “When you listened to him describe it you gulped,” New York Sen.... Read full story »

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Bernanke, Paulson Put Fear of God Into Pols

Of meeting with officials, lawmaker says: 'We have never heard language like this'

Congress • Ben Bernanke • Wall Street • Charles Schumer • Federal Reserve • Henry Paulson • Chris Dodd • Treasury Department • bailout • financial crisis

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More Newser Stories

Bailout Won't Bail Out Bernanke

Nation needs explanation of how it will help

Paulson Lost Some Cred

Demands and attitude have soured a once promising relationship between the administration and lawamakers

Fed, Treasury Fall Back on Existing 'Inadequate' Tools

With no federal deal, agencies limited to ad hoc solutions

Fed Won't Say Where $2T in Loans Went

Money is in addition to $700B Wall St. bailout; collateral unclear, too

Lawmakers: We Have a Deal

Dodd touts 'fundamental agreement' ahead of meeting with Bush

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