Wednesday, April 22, 2009

Bailout current situation


By Xavier Guerrero (Copied from CNN)

The government continues to attempt to increase the range of their economic stimulus plan.

Still more bailouts are in the air, and Treasury Secretary Henry Paulson said Wednesday the government would broaden the reach of the $700 billion bailout plan to support non-bank financial institutions.

So far, the government has pledged about $172 billion of that $250 billion to a total of 52 banks, according to Keefe, Bruyette & Woods. That total may actually be higher, since the Treasury is relying on the banks to announce their participation in the program.


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Sources:

CNN.com



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