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January 16, 2009

Senate Releases Remaining $350B in Bailout Money
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On Capitol Hill, the Senate has voted to release the second half of the
$700 billion Wall Street bailout. The vote came despite ongoing concerns
over a lack of oversight and accountability in how the money is
dispersed. Following the vote, the Treasury Department announced an
additional $118 billion infusion for Bank of America. The new money
comes on top of the $25 billion Bank of America received under the first
bailout installment. Meanwhile, Democratic leaders in the House have
unveiled their version of an $825 billion economic stimulus package
offering new spending and tax cuts.



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