Geithner: bailout program extended to October

[The Northerner]

Source: Associated Press

WASHINGTON – Treasury Secretary Timothy Geithner announced on Wednesday that the administration will extend the government's financial bailout program until next fall.

In a letter to House and Senate leaders, Geithner said the extension is "necessary to assist American families and stabilize financial markets."

Money from the $700 billion taxpayer-funded bailout program has helped rescue big Wall Street firms, auto companies and others. That's angered many Americans, who feel the government hasn't provided them with relief from high unemployment and rising home foreclosures.

Geithner said the Troubled Asset Relief Program that Congress passed in October 2008, will be extended until Oct. 3, 2010. He has the authority to extend the TARP simply by notifying lawmakers.



Read more: http://news.yahoo.com/s/ap/20091209/ap_on_bi_ge/us_bailout_extension

[elmerdem]

1. assist families? WTF?

Corporate Crime Families maybe!

[MannyGoldstein]

2. No Shit?

They're doing it for the children now, I see.