Paulson, Bernanke Defend Bailout Plan

Months in discussing the bailout plan and testifying before a congressional panel, Treasury Secretary Henry Paulson and Fed chairman Ben Bernanke defend of the $700 billion financial bailout after declining the original strategy to buy toxic debt from banks. "There is no playbook for responding to turmoil we have never faced," Paulson says. "We adjusted our strategy to reflect the facts of a severe market crisis."