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WASHINGTON: The Obama administration on Thursday sent its clearest signal yet that it is prepared to extend its $700 billion bailout for Wall Street for another year, even as lawmakers said they were frustrated that not enough was being done to help the average American.
WASHINGTON: The Obama administration's pay czar has asked American International Group to withhold some of the millions in bonuses promised to its employees.
WASHINGTON: A government watchdog said the US$700 billion bailout for the financial industry played a major role in rescuing the economy over the last year but also engendered anger and distrust among Americans because of secrecy and confusion about the way the program was handled.
WASHINGTON: Government officials put trillions of taxpayer dollars on the line to guarantee risky bank assets - a strategy that could cause permanent and costly market distortions, a government watchdog says. At the peak of the financial crisis, taxpayer money guaranteed assets worth US$4.3 trillion to help banks ride out the panic.
I refer to the Monday Starters column on 'Will discounts for your traffic summonses make you a careful driver?' (Nov 30). The instruments of any traffic law enforcement agency are in the form of notices and summonses for those caught breaking the law.