In Congress, Concern Over $700 Billion Bailout Treasury Secretary Henry Paulson today sought to make his case for Congress to approve a $700 billion plan to clean up the mortgage crisis on Wall Street. Paulson said the plan was expensive, but the only way forward. Congressional Democrats say they want oversight on how the money is spent.
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In Congress, Concern Over $700 Billion Bailout

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In Congress, Concern Over $700 Billion Bailout

In Congress, Concern Over $700 Billion Bailout

In Congress, Concern Over $700 Billion Bailout

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  • <iframe src="https://www.npr.org/player/embed/94868825/94868817" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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After a dramatic week on Wall Street that saw the rescue of some companies and the failure of others, Treasury Secretary Henry Paulson took to the airwaves Sunday to explain why he wants Congress to pass legislation to help him shore up the economy.

Paulson said access to $700 billion in taxpayer funds to buy up bad mortgage debt is what's needed to make the financial system operate normally again.

In Washington, criticism of the plan came even from Republican corners. And some Democrats say they want oversight on how the money is spent.