Home / Business Tools: Save | Print | E-mail | Most Read | Comment
Geithner postpones unveiling financial bailout plan
Adjust font size:

US Treasury Secretary Timothy Geithner has postponed unveiling the Obama administration's new financial bailout plan to Tuesday as the Senate failed to pass its version of economic stimulus package last week.

"Secretary Geithner will postpone the release of the administration's Financial Stability and Recovery Plan until Tuesday," the Treasury said in a statement on Sunday. Geithner had been scheduled to announce the plan on Monday.

U.S. President Barack Obama Friday named a team of leading economists to help him on the stricken economy as he continued to push the Congress to quickly approve his massive stimulus plan.
US President Barack Obama (1st R) speaks before signing an executive order to establish the Economic Recovery Advisory Board in the East Room of the White House in Washington Feb. 6, 2009.

The administration wants to spend Monday focused on the Senate's effort to pass an economic recovery package, Treasury spokesman Isaac Baker explained.

The Senate will be likely to vote on the economic stimulus package early next week after the White House and the key senators reached a tentative agreement on the 780-billion-dollar package.

Now at 780 billion dollars, the tentative deal would be smaller than the original roughly 935-billion-dollar package. Many Republican senators have said they want the total package's cost down to about 800 billion dollars.

The financial plan that Geithner is expected to detail will spell out how the administration intends to loosen credit.

The first round of financial rescue program has so far provided around 350 billion US dollars to more than 360 banks.

(Xinhua News Agency February 9, 2009)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Geithner postpones unveiling financial bailout plan to Tuesday
- Geithner remarks 'may reflect' policy shift
- Geithner vows to deepen US-China economic ties
- Geithner approved as US Treasury Secretary

Jan. 8-9, Beijing Construction Innovation Country Forum Annual Meeting
Jan. 14-16, Nanjing China Expo Forum for International Cooperation
Jan. 29 - Feb. 1, Switzerland World Economic Forum Annual Meeting

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?