by Daniel Costello

Chairman of the Federal Reserve, Ben Bernanke and Treasury Secretary Henry Paulson told a Congressional panel this morning that the economic crises remains severe and hinted the Feds may need more money on top of the recent $700 billion bailout plan to fix it.

If we have learned anything throughout this year," Mr. Paulson said, "we have learned that this financial crisis is unpredictable and difficult to counteract."

Could we soon reach a trillion dollars?

Update: link to the speakers' prepared testimonies below.

 

Henry Paulson Jr., U.S. Treasury Secretary

Ben Bernanke, Chairman, Federal Reserve

Sheila Bair, Chairman, Federal Deposit Insurance Corporation