WASHINGTON, Sept. 23 (UPI) -- U.S. Federal Reserve Chairman Ben Bernanke urged members of Congress Tuesday to act quickly to deal with "the crisis at hand" in financial markets.
In a statement prepared for the Senate Committee on Banking, Housing and Urban Affairs, Bernanke said a review of regulations was necessary "to avoid a repetition of what has transpired in our financial markets over the past year." However, he implored legislators to work first on passage of the $700 billion U.S. Treasury bailout plan.