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Just $15B left in first $350B of gov't bailout
AP
Tuesday, Dec 09, 2008
The government has just $15 billion left to spend
from the first $350 billion pot of financial bailout money, the
Treasury Department announced Monday.
The department said $335 billion has been allocated from the
first half of the $700 billion program, which was enacted on Oct.
3. The information was contained in a report to Congress.
Treasury Secretary Henry Paulson, who is overseeing the program,
is weighing tapping the second $350 billion. The main goal of
the program is aimed at getting financial institutions to lend
money more freely again, which would help revive the economy.
(ARTICLE CONTINUES BELOW)
Of the $335 billion spoken for, $250 billion has been pledged
for capital infusions to banks. In return, the government receives
partial ownership stakes in the financial institutions.
Full
article here
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