Monday, February 9, 2009

Geithner to Unveil Bailout Plan for Financial Sector

A Treasury Department official says Treasury Secretary Timothy Geithner will unveil the Obama administration's new plan to rescue the financial sector on Tuesday.

Geithner had been scheduled to announce the plan Monday.

Treasury spokesman Isaac Baker said Sunday that the administration wants to spend Monday focused on the Senate's effort to pass an economic recovery package.

The financial plan that Geithner is expected to detail Tuesday will spell out how the administration intends to fund further bailouts for failing financial institutions.  The plan is expected to include the following details:

* Democratic politicians and other party leaders will be forced to pay all back taxes, generating an estimated $175 Billion.

* Banks and other Financial institutions will use a special version of TurboTax called "Bailout TurboTax", which will save them an estimated $83 billion in taxes.

Other details to come.


About This Blog

This blog is about my opinions and world view.  I am a conservative, evangelical Christian.  Generally speaking, if you post a comment, I'll allow you to express your view.  However, if you say something hateful, untruthful, or just generally something I don't like, I may remove it.

  © Blogger templates The Professional Template by 2008

Back to TOP