WASHINGTON, Feb. 11 (UPI) -- The chairman of the U.S. Senate Budget Committee said the $312.5 billion left in a $700 billion bailout may not be enough to right the financial system.
Sen. Kent Conrad, D-N.D., in a committee face-off with U.S. Treasury Secretary Tim Geithner said, "I don't think the right answer is zero for the housing and financial sector."
Conrad warned Geithner to put in a request for additional funds before the annual federal budget debate, The Wall Street Journal reported Wednesday.
"I want to give you a fair heads up," Conrad said.
In the discussion, Geithner said the Bush administration's response to the financial crisis was "inadequate." The public was "skeptical" of the government's actions in part because the plan changed direction several times, Geithner said.
"The American people … are skeptical that their government has, to this point, used taxpayers' money in ways that will benefit them," Geithner said.
He said he didn't want to repeat the same mistake of providing details that would later be changed.
However, "we will come with the level of detail and care that you need to do your job," Geithner told committee members.
