Dodd: Congress must be careful with financial mess
(AP) - Senator Christopher Dodd says he's confident that Treasury Secretary Henry Paulson is the right man to deal with the nation's troubled financial markets.
But Dodd also says it's just as important to act responsibly asit is to move quickly on stabilizing the markets.
Dodd, chairman of the Senate Banking Committee, made his remarksMonday on "The Early Show" on CBS.
He says there will be split opinions in Congress on the Bushadministration's proposed $700 billion bailout plan.
The administration proposes the plan to purchase bad mortgageloans that have been weighing down financial companies.
Dodd says taxpayers need to be protected in whatever deal isreached, and that they should be, quote, "first in line" to getmoney back when the industry stabilizes.
For more on Sen. Dodd and the federal bailout, go to channel 612 on your iO digital cable box and select iO Extra.