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Back to To the Point

To the Point

Congress Pushes Back on the Bailout

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.

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By Warren Olney • May 12, 2014 • 1 min read

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.

  • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

    Warren Olney

    former KCRW broadcaster

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    Andrea Brody

    Senior Producer, KCRW's Life Examined and To the Point podcast

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    Christian Bordal

    Managing Producer, Greater LA

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    Katie Cooper

    Producer, 'One year Later'

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    Sudeep Reddy

    Wall Street Journal

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    Michele Bachmann

    Congresswoman (R-MN)

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    Brad Sherman

    California congressman (D-Sherman Oaks)

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