Billions more needed for financial rescueSubmitted by ZeroFiction on Wed, 01/28/2009 - 23:09
And the hits keep coming...
WASHINGTON – The Obama administration is developing proposals to help rescue the banking system that could cost taxpayers hundreds of billions of dollars beyond the $700 billion bailout Congress already has approved.
Details are still being worked out. But the administration is looking to spend hundreds of billions more to address the foreclosure crisis, help banks get out from under weighty bad assets and expand liquidity programs.