September 19, 2008 / 3:26 PM / 10 years ago

Sen. Dodd: Congress must have input in bailout

Chairman of the Senate Committee on Banking, Housing and Urban Affairs Senator Christopher Dodd (D-CT) speaks about the mortgage crisis on Capitol Hill in Washington September 16, 2008. REUTERS/Jim Young

WASHINGTON (Reuters) - U.S. Senate Banking Committee Chairman Christopher Dodd on Friday warned the Bush administration that it must work with Congress this weekend on details of a Wall Street bailout package that has not been fully unveiled to lawmakers.

“None of us have any idea what the details are,” said Dodd, adding that the Treasury Department and Federal Reserve should not present a package next week as a “fait accompli.”

The Connecticut Democrat added that crafting the measure “will be very difficult,” but he said quick action was needed because “credit has seized up.”

Reporting by Richard Cowan, editing by Jackie Frank

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