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Oil/War/Economy
December 19, 2008

Will the first bailout budget run out quickly?

Oil War Economy

"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."

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

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