US bailout to see some changes

Kuala Lumpur News.Net
Sunday 11th January, 2009

The $700 billion US bailout plan may be about to undergo some changes.

The plan, which is was approved in October, has suffered growing criticism that it is not doing enough to help the economy improve.

About half of the bailout money approved by
Congress approved has already been spent, but a number of legislators have criticized the bailout plan for failing to loosen tight lending markets.

The lack of credit has made it difficult for Americans to sign up to loans for homes, cars and consumer items.

Some of Barack Obama's staff members have said they are working to expand the program to help not only banks, but also municipalities, small businesses and homeowners.

The changes are not related to Mr Obama's new economic stimulus proposal, which is a separate two-year plan that could cost as much as US$800 billion.

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