Friday, January 9, 2009

$266.9B doled out from $700B bailout

The following Associated Press story appeared on page 2C of the January 9, 2009 issue of the St. Paul Pioneer Press.

The Treasury Department announced Thursday that it has disbursed $266.9 billion from the $700 billion financial rescue program.
In its latest update to Congress, the department said it closed $65.4 billion in transactions since its last report on Dec. 2. Under the law that Congress passed Oct. 3, Treasury must provide a report summing up its activities once its commitments pass certain milestones. The new report included $187.5 billion provided to banks in an effort to get them to resume more normal lending and $19.4 billion for the auto industry.

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