Fed chief urges swift action on bailout
The Bush administration insisted Congress must move quickly to approve what one politician called the "mother of all bailouts" - a US$700bn (€483.5bn) proposal to buy a mountain of bad mortgage debt in a bid to free up the nation's credit markets.
Congressional leaders backed the plan's main thrust, saying passage might occur in a matter of days. But they said it must be expanded to include help for ordinary people as well as the big Wall Street financial firms who have lost billions through their bad investment decisions.
