New Bailout May Top $1.5 Trillion | WHAT REALLY HAPPENED

New Bailout May Top $1.5 Trillion

In announcing the plan, Treasury Secretary Timothy F. Geithner will not ask Congress for more funds than the roughly $350 billion that remain in the Treasury Department's original rescue package for the financial system, though congressional sources said such a request could come later if the new programs are unsuccessful. The rest of the money would come from other government agencies, such as the Federal Reserve, as well as private-sector contributions.

Webmaster's Commentary: 

The federal Reserve is NOT a government agency. It is a private company, no more "Federal" than "Federal Express."

Drop a note to the Washington POst and remind them of that.

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