Treasury Secretary Timothy Geithner said Wednesday he would inform Congress as soon as possible if more taxpayer money were needed to bail out the banking sector as part of the effort to reinvigorate the economy. Geithner testified before the Senate Budget Committee one day after he sketched out his plan to spend as much as $2.5 trillion to aid banks, unfreeze consumer credit markets and stem the soaring foreclosure rate. This is part of his exchange with Republican Senator Lindsey Graham.

Sen. Lindsey Graham: “Will housing be fixed without any new money?”

Tim Geithner: “I don’t know that…uh —”

Graham: “On a scale of one to ten —- one, you won’t need any money; ten, you’re likely to need more money to fix housing -—”

Geithner: “For housing?”

Graham: “Yeah.”

Geithner: “Can’t tell you that at this point, but if we think there’s a good case for doing it, we’re going to come tell you how we’re going to do it.”

Graham: “OK, good. So, you have no clue.”

Geithner: “No, that’s not fair, Senator. Senator, what I will not do is, even if you are frustrated by the absence of details —”

Graham: “See, I just don’t believe that’s enough money to fix housing and banking. I just wish you would say that, because you’re going to come up here and ask us for more money. I know you will. Senator Conrad said on the floor. Let’s just get on with this thing. Let’s tell people some idea of what awaits them.”