US bank announcement put back
09-02-2009
The Obama administration has put back until Tuesday the unveiling of its new plan for America's frozen banking sector. National Economic Council director Larry Summers said the plan would include at least 50 billion US dollars to shore up the housing market, as well as new measures to stabilize banks and encourage them to resume lending. The revamp of the second half of the Bush administration's 700-billion-dollar financial bailout was to have been announced later today. But the Treasury Department deferred it as the Senate prepares to vote on Barack Obama's huge stimulus plan. It is expected to pass it tomorrow.
