Biden Says Banks May Get More, More, More
Posted on Jan 26, 2009
The vice president let it slip Sunday that the $700 billion TARP bailout bill could have a sequel. Also, Nancy Pelosi indicated that Congress might dole out more funds to financial institutions. Let’s see, that’s $700 billion on TARP, $850 billion for the still-pending stimulus package, plus the mysterious billions they’re tossing around at the Federal Reserve. ... Here’s hoping China doesn’t cut up our national credit card.
Banks and other financial institutions may need more than the $700 billion in public money that has already been approved to repair the nation’s feeble credit system, Vice President Biden and congressional Democrats said yesterday [Sunday].
In his first appearance as vice president on CBS’s “Face the Nation,” Biden said that Timothy F. Geithner will report quickly about the use of the second half of the financial bailout funds soon after the Senate confirms him as Treasury secretary, possibly today.
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