Bailout Could Deepen Crisis, CBO Chief Says

Asset Sales May Lead to Write-Downs, Insolvencies, Orszag Tells Congress

By Frank Ahrens
Washington Post Staff Writer
Thursday, September 25, 2008; D04

The director of the Congressional Budget Office said yesterday that the proposed Wall Street bailout could actually worsen the current financial crisis.

During testimony before the House Budget Committee, Peter R. Orszag -- Congress's top bookkeeper -- said the bailout could expose the way companies are stowing toxic assets on their books, leading to greater problems.