US Financial Rescue Plan Delayed to Second Week in February

Did Turbo Tim misplace "The Plan?"

Check Hank's locker. Zimbabwe Ben has a copy.

Or are they just giving the frat boys some extra time to 'arrange their affairs?'


Economic Times
US financial rescue plan delayed a week: Report
1 Feb 2009, 0639 hrs IST

WASHINGTON: The announcement of President Barack Obama's financial rescue plan will be pushed back a week to the second week of February, media reported on Saturday, citing administration sources.

"Administration aides are saying that they want to get the details right, that there are a lot of moving pieces, and so it's going to take an extra week," a news channel said. Administration officials are weighing elements to include in the plan, including whether to restrict executive compensation, how to get credit markets flowing and how to deal with the foreclosure crisis, channel said.

Efforts to get the first installment of the $700 billion bailout initiative were rushed, resulting in difficulties, and the Obama administration believes that "getting these details right might make sense," channel said.

President Barack Obama said earlier in the day the plan would be announced soon and would help lower mortgage costs for homeowners and spur the flow of credit to businesses and households.