Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

What Next for Gaza? Lasting Ceasefire Agreed After 50 Days of War

Read more

FOCUS

Video: Milan is starting point for Syrian refugees’ European odyssey

Read more

MIDDLE EAST MATTERS

Terrorist ransoms: Should governments pay up for hostages?

Read more

ENCORE!

Kristen Stewart and Juliette Binoche star in 'Clouds of Sils Maria'

Read more

WEB NEWS

India: journalist launches "Rice Bucket Challenge"

Read more

WEB NEWS

Russian aid convoy: Mission accomplished?

Read more

WEB NEWS

Actor Orlando Jones lauches 'Bullet Bucket Challenge'

Read more

IN THE PAPERS

'Macron Economics'

Read more

BUSINESS DAILY

Macron-economics, the former banker turned minister

Read more

  • French unemployment rises 0.8% in July to record high

    Read more

  • UN probe accuses Syrian regime, Islamists of ‘crimes against humanity’

    Read more

  • France’s Hollande puts young ex-banker in top economy post

    Read more

  • Video: Iraq’s Yazidis flee to spiritual capital of Lalish

    Read more

  • Video: Milan is starting point for Syrian refugees’ European odyssey

    Read more

  • Airstrikes and Assad - Obama’s military conundrum in Syria

    Read more

  • IMF’s Lagarde investigated in French corruption case

    Read more

  • American journalist held captive in Syria arrives in US

    Read more

  • In pictures: The ministers in France's new government

    Read more

  • 'Lasting' ceasefire agreed for Gaza, Abbas says

    Read more

  • Far-right ‘Russian Jihad’ fighters cross into Ukraine

    Read more

  • American 'Islamic State fighter' killed in Syria

    Read more

  • Rebels 'shoot down' UN helicopter in South Sudan

    Read more

  • Air France pilots threaten September strike

    Read more

  • WHO seeks stricter regulation for e-cigarettes

    Read more

Paulson to leave rest of bailout package for Obama administration

Text by AFP

Latest update : 2008-12-09

US Treasury Secretary Henry Paulson said on Monday that it is likely he will leave the remainder of a 700 billion dollar bailout of the finance sector for when president-elect Barack Obama takes office on Jan. 20, 2009.

US Treasury Secretary Henry Paulson said in an interview Monday he would likely leave the remainder of a 700 billion dollar finance sector bailout fund for the incoming administration of president-elect Barack Obama.
   
The Wall Street Journal quoted Paulson as saying he would probably not tap the remaining 410 billion dollars of the rescue fund to launch any substantial new programs.
   
"I'm going to do what we need to do to keep the system strong but I'm not going to be looking to start up new things unless they're necessary, unless they make great sense," Paulson told the newspaper.
   
"I want to preserve the firepower, the flexibility we have now and those that come after us will have."
   
His preference to keep some money in reserve means many of the big decisions about how to use the fund, such as helping to stem a tide of foreclosures, will be delayed until Obama takes office on January 20.
   
Of the 700 billion dollars authorized by Congress last month to rescue the financial sector, 290 dollars has been disbursed.

Date created : 2008-11-18

COMMENT(S)