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24.09.2008 - US Fed chief urges bail-out action

The chairman of the US Federal Reserve has urged politicians to "act quickly" to support the proposed $700bn (Ј378bn) bail-out of the financial markets.
The US economic outlook was "quite adverse" if measures were not taken, Ben Bernanke said.

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Mr Bernanke said Congress must "address the grave threats to financial stability that we currently face".
On Tuesday politicians expressed strong scepticism about the bail-out following a five-hour Senate hearing on the plan.
Treasury Secretary Henry Paulson had told already the banking panel that delaying the $700bn (Ј382bn) bail-out would put the entire US economy at risk.
But both Democratic and Republican congressmen said they wanted assurances that the plan would benefit ordinary American home-owners as well as Wall Street.

(BBC)


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