2008-12-31wsj.com

"The Treasury Department has committed nearly $10 billion more than the $350 billion Congress has authorized to date for the financial-sector rescue package, which could constrain how the incoming Obama administration deploys the rest of the fund.

Treasury's announcement Monday that it is directing $6 billion to auto-finance company GMAC LLC brought to $358.4 billion the total funds from the Troubled Asset Relief Program that have been pledged to a variety of programs and guarantees. That suggests Treasury is tapping into the second half of the $700 billion set aside in October before it has been released by Congress."


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Comments:

taps65 at 15:43 2008-12-31 said:
It has been sickening to read about all these while watching our neighbors get evicted. It's bad enough that homes and lives are wrecked, worse we get to shoulder the consequences published right in front of our eyes. History has shown that we have been forewarned. Permalink

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