Tuesday, November 18, 2008

Clash over $700bn bank bail-out

US Treasury Secretary Henry Paulson has clashed with members of Congress over the $700bn US financial bail-out plan.

Mr Paulson told a Congressional committee that injecting cash into banks was the most effective way to stabilise the financial system.

However critics on the committee said that more of the money should be used to help struggling homeowners avoid losing their homes.

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