Obama extends bailout programme

The Obama administration extended the $700bn (€475bn) bailout programme until October, setting the scene for a Congress battle.

Obama extends bailout programme
Thu, 10 Dec, 2009 - 07:13

The Obama administration has extended the $700bn (€475.3bn) bailout programme until October, setting the scene for a Congress battle.

Democrats who favour using some of the leftover money to help generate jobs will clash with their Republican opponents who say it should be used to shrink soaring budget deficits.

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CourtsBusinessHeathrowPlace: Wall StreetPerson: ObamaPerson: Timothy GeithnerPerson: President Barack ObamaPerson: Jeb HensarlingPerson: John BoehnerPerson: GeithnerEvent: ChristmasOrganisation: Obama administrationOrganisation: CongressOrganisation: DemocratsOrganisation: RepublicanOrganisation: American International GroupOrganisation: Government Accountability OfficeOrganisation: DemocraticOrganisation: republicansOrganisation: AIGOrganisation: House RepublicanOrganisation: Bank of AmericaOrganisation: TARPOrganisation: GAO
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