Fierce criticism of the huge US rescue fund for the financial sector - je 24.09.2008 08

US Treasury Secretary, Henry Paulson, and Federal Reserve Chairman, Ben Bernanke, testified to the Senate Tuesday on the need to approve the 700- Bbillion dollar rescue fund for the stricken financial sector. But they faced fierce criticism from both Democrats and Republicans who say the proposal requires more careful discussion and consideration. In its current form, the fund, which is composed of taxpayers' money, would allow Paulson to spend at his own discretion. It would not include elements such as aid for homeowners or caps on pay for executives who many feel should be punished for their role in the crisis.