Summers Says TARP to Be ‘Very Different’ Under Obama

The U.S. financial-rescue program will be “very different” under President Barack Obama than it was under his predecessor, said Lawrence Summers, director of the White House’s National Economic Council.

“The priority is to get credit flowing again,” Summers, appearing on NBC’s “Meet the Press” today, said of the second half of the $700 billion Troubled Asset Relief Program. “It’s going to emphasize transparency, it’s going to ... Full Story »

Posted by Leo Romero
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Posted by: Posted by Leo Romero - Jan 25, 2009 - 9:25 AM PST
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Edited by: Leo Romero - Jan 25, 2009 - 9:25 AM PST

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Patricia L'Herrou
2.6
by Patricia L'Herrou - Jan. 25, 2009

there's nothing here from mr. summers on how they intend to ensure that the money given to financial institutions does go to consumer credit or to ensure transparency or accountability from both financial institutions and the gov't offices. we read before the first dispersal that credit to consumers and transparency would be mandated. a signal from pres. obama isn't a description. so we seem to be in the same place, but this wasn't mentioned.. i'm sorry that this wasn't more of a probing story.

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Leo Romero
3.0
by Leo Romero - Jan. 25, 2009
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