White House bailout plan announced

Author:
Publish date:
Social count:
0

Treasury Secretary Timothy Geithner yesterday laid out the White House’s plan to rescue the financial system, and it is bigger than expected, with government playing a larger role in markets and banks.

Under the plan, administration officials will pump as much as $2.5 trillion into the financial system — $350 billion of it from the TARP fund, according to a report in The New York Times.

Many of the details of the program, however, remain unsettled.

Click here for the complete report.

Related

First set of tariffs on aluminum sheet announced

The U.S. Commerce Department announced the countervailing tariff amounts on aluminum sheet from China, with varying amounts imposed on different Chinese suppliers that are scheduled to take effect within two to five business days.