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Tougher rules to be placed on US bailout package
Kazakhstan News.Net
Monday 12th January, 2009
The troubled US financial system is about to see a revision of its much vaunted bailout package.
Both President-elect Barack Obama and Congressional legislators have been targeting the rescue plan, because of growing criticism that it has not done enough to boost the economy.
The US Treasury Department has already spent about half of the bailout money on banks and financial institutions, though this could soon be expanded to municipalities, small businesses and homeowners.
House Financial Services Committee Chairman Barney Frank has said legislators will soon vote on a bill that would impose tougher restrictions on how the bailout money is used.
The Democrat from Massachusetts said the measure would help the government do track how bailout money is being spent and give more help to Americans in danger of losing their homes.  Email this story to a friend
Comments on this story
` ~galljdaj+
01-12-09, 06:07 AM |
Tougher rules to be placed on US bailout package
The 'economic profits, the cream, has been already sucked out of the big pile. And, 'now you folks can play with what’s left!'
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Angie G
01-12-09, 04:02 PM |
Bail out money
Yes, we keep hearing that the system is about to se a revision on the bailout package! Well, what package! it seems those packages are getting harder and harder to obtain! Where is the money going? They say the money is going to the banks, really! Don’t you think it would make more sense to distribute the money to all our fellow tax payers! Why, it’s only obvious that when we have that extra money it’s going right back to the BANKS! If that extra $350 billions where in our fellow consumers hands it would surely up lift the economy. As a tax payer my first step would be to pay off my mortgage and have as little dept with my home lender, and purchase an Auto… Why give our money to the Auto and the bank industry if there just going to save it and not cycle the money as it should!
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MIKE G
01-12-09, 09:49 PM |
Where is the money going?
As far as the homeowners in trouble and looking for relief, the banks may be helping them and refinancing thier homes at a lower rate,so then where is the money that was giving to the banks? The banks are not losing any money. They are not helping anyone but themselves.. Try talking to a bank.. It’s a joke!
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Anonymous
01-13-09, 09:51 AM |
Barney Frank is the problem
Why is Barney Frank managing the financial affiars of America. He has no experience and has created part of this problem as a result of his lack of timely appropriate action to prevent it. He needs to resign.
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