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Will the first bailout budget run out quickly?
*Reuters, by David Lawder, December 19, 2008
“Paulson seeks second $350 billion in bailout funds
Treasury Secretary Henry Paulson said on Friday that government loans to Detroit automakers will prevent ‘significant disruption’ to the U.S. economy and called on Congress to release a second $350 billion tranche of bailout funds.
Paulson, in a statement following the White House’s announcement of up to $17.4 billion in loans for General Motors Corp., Chrysler LLC and Ford Motor Co., said the first $350 billion of the Troubled Asset Relief Program funds was effectively exhausted.”
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