The Bush White House today warns of economic "calamity" if Congress won't bail out Wall Street, but despite the $700 billion price tag, the leading budget expert in Congress says there's no way to estimate the real cost. Today, Federal Reserve Chair Ben Bernanke told a joint committee of Congress that the economy needs the Wall Street bailout and needs it now. We hear from skeptical Democrats and Republicans as pressure increases and time grows short.
Congress Pushes Back on the Bailout
Sudeep Reddy - Wall Street Journal - @Reddy, Michele Bachmann - Congresswoman (R-MN), Brad Sherman - US House of Representatives (D-CA) - @BradSherman, William Poole - former President, Federal Reserve Bank of St. Louis