Treasury Chief to Update Bailout Plan

By: Associated Press Email
By: Associated Press Email
Treasury Secretary Henry Paulson is set to talk about the ongoing rollout of the financial bailout plan.

Treasury Secretary Henry Paulson talks about efforts to heal the U.S. economy during an interview with The Associated Press at the AP's Washington bureau, Wednesday, May 7, 2008. Paulson said that the turmoil that has gripped Wall Street and took a turn for the worse yet again in March has eased somewhat. "There's progress," he said. "I think we're closer to the end of this than the beginning." (AP Photo/J. Scott Applewhite)

Washington (AP) Treasury Secretary Henry Paulson is set to talk about the ongoing rollout of the financial bailout plan.

Among the complaints critics are leveling at Paulson is that the administration isn't being tough enough on the banks getting government assistance.

There are also complaints that troubled assets are not being bought as planned, and that not enough is being done for people struggling with their mortgages.

Meanwhile, other problems have cropped up, such as pressure to give the auto industry $25 billion, and the need to pump another $40 billion into insurance giant aig.

Yesterday, the federal housing finance agency announced a new plan to help struggling homeowners with mortgages from Fannie Mae and Freddie Mac.


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