Senator Akaka questions nation's top money officials

Senator Daniel Akaka
Senator Daniel Akaka

CAPITOL HILL, Washington, D.C. (KHNL) - Senator Daniel Akaka wants to make sure your money isn't wasted by big government.

Akaka was one of the many senators on the banking committee, who grilled Washington's top money officials.

Federal Reserve chairman Ben Bernanke and Treasury Secretary, Henry Paulson, want a $700 billion bailout plan.

Bernanke says it's necessary to avoid a recession.

But Senator Akaka wants to consider more options, to solve America's economic crisis.

"$700 billion is a huge sum of money," said Akaka.  "We must deliberate and provide a solution that protects taxpayers as much as possible, and limits the potential of this new authority to be abused."

The House could vote on a bill as soon as Wednesday, September 24, followed by a Senate vote.