Other congressional testimony painted a skeptical picture of the Wall Street bailout. Speaking before the House Budget Committee, Congressional Budget Office director Peter Orszag said the bailout could actually worsen the financial crisis. Orszag testified the bailout could trigger broader economic collapse because the assets of struggling financial firms could have even less value than currently believed. In an interview with the Washington Post, Orszag said, “The key question is: What are we buying, and what are we paying for it?”
CBO Chief: Bailout Could Worsen Econony
HeadlineSep 25, 2008