The Senate Banking Committee has rejected the Government’s buyout plan and declared it lacking in detail and scope. The New York Times reports on the Committee’s response to the Treasury Secretary plan to rescue the nation’s financial system.

Mark Lander and Steve Lee Myers from the NYT look at Committee’s exasperation with the Government plan and explores the responses from Committee leaders:

“Treasury Secretary Henry M. Paulson Jr. received an angry and skeptical reception on Tuesday when he appeared before the Senate Banking Committee to ask Congress to promptly give him wide authority to rescue the nation’s financial system.”

Read the full story here.

Peter Fray

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