Blackstone's Peterson: Bailout Size Is Mind-Numbing

from National Public Radio

Congress and financial officials are busy wrangling over the proposed financial bailout package. The question is how to make sure this package works. Pete Peterson co-founded Blackstone Group, one of the country's biggest private investment firms. He says the size and the concept of the bailout package are mind-numbing. Peterson tells Linda Wertheimer that the credit crisis solution will have to be more imaginative than the one that fixed the savings and loan crisis nearly 20 years ago.

Broadcast Dates

• Morning Edition, September 23, 2008